Steel major Arcelor ready to reconsider Mittal’s offer
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Steel major Arcelor ready to reconsider Mittal’s offer

Monday, May 22, 2006

Luxembourg’s largest steel company Arcelor is ready to study Mittal Steel‘s improved takeover offer, the former said on Sunday, opening the door to possible talks with Indian steel magnate Laxminivas Mittal. Arcelor Chairman Joseph Kinsch told reporters after a meeting of Arcelor’s board that the company’s directors would be ready to examine the details of Mittal’s latest offer once it has been approved by the CSSF (Luxembourg’s financial regulatory body).

Until Sunday, Arcelor, the world’s second-largest steel company, had firmly rejected world-leader Mittal’s bid to take the former company over and form a global steel giant. The softening of Arcelor’s stance comes after Mittal Steel raised its hostile cash-and-equity bid by a third on Friday and dropped a key demand for family control over the combined entity.

Media reports had suggested that Arcelor was trying to find another company to rescue it from being taken over by Mittal Steel. Possible candidates included Russian tycoon Vladimir Lisin and Russia’s Magnitogorsk Iron & Steel Works (MMK). Mittal’s move on Friday came after the value of its initial offer fell more than 10 percent behind the market worth of Arcelor, as the latter announced a buyback of its own shares at above-market prices to ward off Mittal Steel.

Laxminivas Mittal, who has hinted that the bitter takeover battle might have a hint of racism involved in it, told the French newspaper La Tribune that he was sure that the attractive nature of his revised offer would enable him to obtain over 50% of the Arcelor shares. He added that he was of the opinion that the involvement of a Russian third party would not be in the best interests of Arcelor’s shareholders.

Un Stick A Stuck Door Like A Pro

By Jessica Ackerman

Doors can stick for a variety of reasons that are usually easy to fix. Whether a door is stuck because of faulty hinges, humidity or dirt and grime, some simple steps and household supplies will get it open and swinging freely in no time. Try the easy solutions below for un-sticking a stuck door like a pro.

Wax

Candles are not only good for romantic lighting, they are handy for un-sticking stuck sliding glass doors. Long, white taper candles work the best for the job as they are easy to find, relatively inexpensive and leave little residue anywhere except the track. Using an unlit candle, rub the wax along the sliding ridges of the door frame. Apply a generous coating and then slide the door open and closed a few times. If it still does not slide easily, rub more wax along the tracks.

Baking Spray

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Non-stick baking spray comes in handy for more than keeping scrambled eggs from sticking to a fry pan. Spray a thin coat of cooking spray on stuck hinges and sliding door tracks. Be careful not to get any oil spray on the floor as it may stain carpets or hardwood surfaces.

Petroleum Jelly

Petroleum jelly is a great, all-around un-sticking agent. Its oily nature makes it a natural lubricant for stuck doors. Apply a thin coating to door hinges and tracks to make them open with ease. Petroleum jelly can stain if applied to wood surfaces, so take care with door frames and nearby wooden floors.

Wash the Door

Simply giving the door a good washing with warm, soapy water may be the only effort needed for un-sticking a stuck door. Pay careful attention to the edges of the door that touch the door frame. Dirt and grime may have collected along the edges making it difficult to open and shut the door completely. Wipe down the inside of the door frame, as well. Sometimes grime on the door frame is the cause of the stuck door.

Hinges

Try adjusting the door’s hinges if none of the other options work. Oil them first and see if that causes the door to open and close more smoothly. Over the course of time, most hinge screws loosen naturally from the weight and force of the door’s movement. Try tightening the screws to see if that will help with un-sticking the door.

Remember that a door should be level and even with the door frame. If it is hung too tight, it tends to stick higher up on the frame. If the door hinges have become too loose, the door tends to stick lower on the frame. Sometimes simply oiling the hinges will be all that is needed to un-stick the door.

Experiment with the different methods of un-sticking a door to find the remedy that will work best for the door and home in question. Begin by washing the door and then delve into the different lubricant options. Adjusting the hinges will typically be a last resort option, but if obvious loosening or tightening has occurred it is fine to begin there. Sliding doors usually just require a good lubricant on the tracks and a check to make sure that the door rollers are on the tracks. Un-sticking a stuck door like a pro takes just a bit of time and some common household materials.

About the Author: Jessica Ackerman from WallDecorandHomeAccents.com generously shares everything she knows about

decorative wall grilles

and

wall decor

.

Source:

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Wikinews interviews 0 A.D. game development team
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Wikinews interviews 0 A.D. game development team

Tuesday, March 22, 2011

0 A.D. is a historical, open source, strategy game, published by Wildfire Games. It focuses on the period between 500BC and 500AD. The game will be released in two parts: the first covering the pre-AD period, and the second running to 500AD. With development well underway, Wikinews interviewed the development team.

Aviv Sharon, a 24-year-old Israeli student responsible for the project’s PR, compiled the below Q&A, which the full team approved prior to publication.

Former Satyam CEO Raju, his brother and CFO arrested and detained in profit-fraud scandal
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Former Satyam CEO Raju, his brother and CFO arrested and detained in profit-fraud scandal

Monday, January 12, 2009

Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.

After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.

S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.

Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.

Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.

The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.

Contents

  • 1 The offences
  • 2 About Satyam Computer Services
  • 3 Impact on Satyam Computer Services finances and reactions
  • 4 Related news
  • 5 Sources

In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.

Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.

On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.

The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.

In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).

Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.

New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.

Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.

In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.

The New York Stock Exchange has terminated trading in Satyam stock as of January 7, while the National Stock Exchange of India said it will remove Satyam from its S&P CNX Nifty 50-share index from January 12.

India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.

“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.

In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.

The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.

Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.

Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.

Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.

Enhance Your Walkthrough Garden With Wind Chimes

Submitted by: Stephen Betzen

Whether oriental in design, or a Southwest festival of color and flora variety, you can enhance your walkthrough garden with the use of wind chimes.

Nothing more perfectly enhances the garden yard d cor and stimulates the senses like a quality crafted wind chime that has been precision tuned. Appealing to the eye, and alive with movement, wind chimes catch the wind and harmonize with nature; permeating the surrounding area with a tantalizing yet soothing aura of peace and tranquility.

The charm of a butterfly garden created to capture the color and activity of gossamer wings is further enhanced by the use of a wind chime. Stagger groups of wild and cultivated plants that are especially appealing to butterflies. But like wind chimes, all butterflies are not the same.

Butterflies have different nectar and flower color preferences. For instance, while the elegant Viceroy prefers milkweed and aster, the stately Monarch prefers goldenrod and thistle. Other favored flora varieties include butterfly weed, pink azalea, purple coneflower, marigold, and rosemary.

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For longer garden life and increased butterfly activity, mix flower varieties that bloom at different times of the year. Groups of flowers are more appealing and easier for butterflies to locate than single specimens.

A bird bath for water, surfaces for basking in the sun on cooler days, shady areas for resting on hot days, and a trellis with nectar-filled honeysuckle or jasmine will help round out and bring balance to the butterfly garden yard d cor.

Your completed butterfly garden will not only delight you and flutter its way into your heart. It will help conserve the butterfly population that has been harmed by chemicals, and their habitats diminished by house and road development.

Connect your walk through garden to the home by including a wind chime as part of your home decorating. The quaint charm of a country home d cor, especially, will be enhanced.

A low-maintenance type of walkthrough garden is a natural one. Natural gardens frequently exploit the benefits and tranquility of a lava rock waterfall, fountain, or garden pond. This creates a more humid environment for flora and will entice wildlife, drawn to an environment that meets their needs.

The addition of tranquil sounds made by wind chimes, pitched at a higher tone to compliment the sounds of gurgling water will increase feng shui.

Delightful, relaxing sounds made by visiting bees and birds will add to the melodic duet of the water and wind chime, to create an environment as audibly soothing as it is visually stimulating.

Purchase zone-appropriate plants that are native to the area perennial and wildflower varieties. These will be hardy, require little care, and will prove the most prolific. Do not overcrowd plants as they will be more susceptible to disease.

A well situated sun dial, a garden bench under a tree, and birdfeeders complete the garden s landscape design.

Wind chimes a great way to add beauty to your walkthrough garden yard d cor and put a song in your heart!

About the Author: Stephen Betzen is a loving husband/supporter/and friend to his wife Rachel Betzen. Rachel and Stephen are dedicated to socially and ethically responsible business practices. Lovers of gardening and simple living. They sell tuned

windchimes

online.

Source:

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US automaker bailout deal fails to pass Senate
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US automaker bailout deal fails to pass Senate

Friday, December 12, 2008

A US$14 billion bailout package deal for the “Big Three” United States automakers — Chrysler, Ford, and General Motors — has been rejected in the United States Senate after failing a procedural vote.

The bill was rejected after bipartisan discussions on the bailout broke down when Republican Party leaders insisted that the United Auto Workers (UAW) union agree to increase wage cuts by next year in order to bring their pay into line with those of Japanese automobile companies in the United States. The UAW refused to meet the demands.

The final vote count in the Senate was 52-35, eight short of the 60 needed to pass. Only ten Republicans joined forty Democrats and two independents in voting for the bill. Three Democrats voted with thirty-one Republicans against it.

Senate Majority leader Harry Reid said that he was “terribly disappointed” by the failure of the bill to pass. “I dread looking at Wall Street tomorrow. It’s not going to be a pleasant sight,” Reid said. “Millions of Americans, not only the auto workers but people who sell cars, car dealerships, people who work on cars are going to be directly impacted and affected.”

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Republican Senator Bob Corker was also unhappy about the rejection. “We were about three words away from a deal. We solved everything substantively and about three words keep us from reaching a conclusion,” he said.

Some Democrats now want U.S. President Bush to reserve a portion of the $700 billion bailout package earmarked for Wall Street to assist the flagging car industry.

Stock markets worldwide fell dramatically on the news, with Japan’s Nikkei average losing 484.68 points, or 5.6 percent, reaching a level of 8253.87 points. Shares in the auto companies Toyota, Nissan and Honda all dropped by no less than 10 percent apiece. European stocks, such as those in the United Kingdom and Germany, also lost ground, with the FTSE-100 index of leading shares falling 176.3 points to a level of 4,211 at midday.

Interview: Danny O’Brien of the Electronic Frontier Foundation
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Interview: Danny O’Brien of the Electronic Frontier Foundation

Tuesday, January 24, 2006

January’s second Interview of the Month was with Danny O’Brien of the Electronic Frontier Foundation (EFF) on 23 January in IRC.

The EFF is coming off a series of high-profile successes in their campaigns to educate the public, press, and policy makers regarding online rights in a digital world, and defending those rights in the legislature and the courtroom. Their settlement with Sony/BMG, the amazingly confused MGM v Grokster decision by the Supreme Court of the United States, and the disturbing cases surrounding Diebold have earned the advocacy organization considerable attention.

When asked if the EFF would be interested in a live interview in IRC by Wikinews, the answer was a nearly immediate yes, but just a little after Ricardo Lobo. With two such interesting interview candidates agreeing so quickly, it was hard to say no to either so schedules were juggled to have both. By chance, the timing worked out to have the EFF interview the day before the U.S. Senate schedule hearings concerning the Broadcast flag rule of the FCC, a form of digital rights management which the recording and movie industries have been lobbying hard for – and the EFF has been lobbying hard to prevent.

New BBC Radio 2 boss announced
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New BBC Radio 2 boss announced

Wednesday, January 28, 2009

The BBC have announced the appointment of Bob Shennan as controller for BBC Radio 2 and BBC 6 Music. Shennan was previously controller at news and sports station BBC Radio Five Live and head of Channel 4‘s abortive 4 Digital Group radio venture. Channel 4 had won a licence to launch three digital radio stations but dropped the plans at an advanced stage in the face of the economic downturn.

At Five Live Shennan increased listening figures to 7 million. Critics claimed that this was achieved through the introduction of phone-in shows and a decline in coverage of harder news. He also launched the part-time digital-only station BBC Radio Five Live Sports Extra.

The BBC’s director of Audio and Music told The Stage that Shennan is “an outstanding leader with extensive radio experience and a proven track record in station management”. He said that “Bob’s energy, enthusiasm and passion for Radio 2 will ensure that the station remains creative and vibrant, and continues to offer unique programmes to the widest possible audience”.

Radio 2 is Britain’s most popular radio station with 13.06 million listeners and a 16% share. 6 Music is the network’s digital-only sister station. The post of controller became vacant last year when Lesley Douglas resigned following the scandal over crude phone calls made by Russell Brand and Jonathan Ross to actor Andrew Sachs during a pre-recorded music programme.

Will The Trump Rally Continue In 2017!

Will the Trump Rally Continue in 2017! by Chip SmithWith some profit taking since the start of the Trump rally, should investor dig into their pockets and start to buy the Trump rally?That is a good question, but here are 3 reasons you should consider the Trump rally. 1) Transition away from bricks and mortar. Once Trump is in office, he will need to back himself up. But a lot of very positive things have happened since Donald Trump has stepped up and won the elections. CEO confidence is back, investor confidence has come back. Plus the fact with bricks and mortar businesses, deregulation is going to be a big event in 2017 and that will only strengthen the confidence in the average investor out there. The last 8 years has seen the biggest regulation burdens on businesses and the stock market in the last 50 years.2) Stick with what is working. The average investor has seen the Trump rally, and now knows its key to stick to areas that keep working. So once you take a bigger picture view in terms of where the extreme value is. The quality spread for the market is at all-time highs, and that would make it a very bullish scenario for small cap stocks. So what we have been seeing is sticking to what has been working last year in 2016. There is influx of new monies coming in to buy the ENERGY sectors, and also the FINANCIALS as they have been said to be very good under a Trump administration. Some are suggesting these are overbought, however, some smart brokers on Wall St are now telling their clients to own more banks and more energy.Expectations are super elevated right now, and the idea of fiscal spending under a Trump administration might be enough to put many companies into quicker solid earnings. Even if valuation is a continuing concern, you cannot say the market is cheap anymore. But the opportunity is looking at margins, and the way margins work.So if you are, tune your thinking into who has margins, and that do not have a lot of sensitivity. Those are going to be the companies you want to invest in the coming 12 to 24 months. These could include banks and energy. And there are always ways to find opportunities in the current market environment. 3) What could derail the Trump Rally?Even though the market is at all time highs, there are still things to worry about in 2017. We just have to think back to 2016. Remember a 4% pullback in the markets midyear last year, made people throw up their hands, and want to leave the business. That really is not a big move in terms of an overbought bull market move. So we have to remember with Trump and his policies not all of them will get through, and if that causes some large ripples in the market, rather larger, not just a few ripples in a small pond. What If You Knew Which Way The Stock Market Was About To Move Before It Happened?Article Source: eArticlesOnline.com

Football: Paris Saint-Germain pays world record €222m to sign Neymar
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Football: Paris Saint-Germain pays world record €222m to sign Neymar

Friday, August 4, 2017

Yesterday, French capital football club Paris Saint-Germain triggered a €222 million (about US$263m, £198m) buyout clause of Brazilian winger Neymar to sign him from FC Barcelona, making him the most expensive footballer of all time by breaking the previous fee record of Paul Pogba’s transfer from Juventus FC to Manchester United. Neymar signed a five year contract with Paris SG which runs until June 2022.

25-year-old Neymar made his professional debut for Santos FC in January 2009, netting 138 goals in 229 matches. He was signed by FC Barcelona in 2013. Since then, Neymar has scored 105 goals and provided 80 assists in 186 games for Barça. In four seasons at Camp Nou, Neymar won two LaLiga titles, three Copa del Rey trophies, and one each of Champions League trophy Supercopa de España. Neymar was part of Barcelona’s treble winning squad in 2014–15, and finished third in 2015’s FIFA Ballon d’Or. Neymar made an international debut at the age of eighteen. He has scored 52 goals in 77 games for Brazil.

I am extremely happy to join Paris St Germain.

Paris SG’s Qatari president Nasser Al-Khelaifi said, “Today, with the arrival of Neymar Jr, I am convinced that we will come even closer, with the support of our faithful fans, to realizing our greatest dreams”.

After penning a five-year contract, Neymar said, “I am extremely happy to join Paris Saint-Germain. Since I arrived in Europe, the club has always been one of the most competitive and most ambitious. And the biggest challenge, what most motivated me to join my new teammates, is to help the club to conquer the titles that their fans want.”

Neymar’s lawyer submitted a check of €222m to deposit Neymar’s buy-out clause at LaLiga’s headquarters, but it was rejected. LaLiga officials issued an official statement, which read, “We can confirm that the player’s lawyers came to the La Liga offices this morning to deposit the clause and that it has been rejected.[…] That’s all the information we are giving out at this moment.”

Later, Neymar’s legal representative delivered the check to FC Barcelona. A statement from Barcelona confirmed they received the payment and Neymar was no longer contracted to the club. The statement read, “On Thursday afternoon Neymar Jr’s legal representatives visited in person the Club’s offices and made the payment of 222 million euros in the player’s name with regards to the unilateral termination of the contract that united both parties.”((es))Spanish language: Esta tarde, representantes legales de Neymar Jr. se han personado en las oficinas del Club y han hecho efectivo, en nombre del jugador, el pago de 222 millones de euros, en concepto de indemnización por la rescisión unilateral y sin causa del contrato que unía a ambas partes. It also said, “the Club will pass on to UEFA the details of the above operation so that they can determine the disciplinary responsibilities that may arise from this case.”((es))Spanish language: el Club trasladará a la UEFA los detalles de esta operación para que depuren las responsabilidades disciplinarias que puedan derivarse de este caso. Financial fair play rules prevents European clubs from spending more than €30 million from their earnings. Paris SG was fined by UEFA in 2014 for violating financial fair play rules.

Manchester United’s manager José Mourinho, who spent about €105 million last season to sign Paul Pogba, and a reported fee of €75 million to sign Belgian striker Romelu Lukaku from Everton FC this season, said, “Expensive are the ones who get into a certain level without a certain quality. For £200m, I don’t think [Neymar] is expensive. […] I think he’s expensive in the fact that now you are going to have more players at £100m, you are going have more players at £80m and more players at £60m. And I think that’s the problem. […] So I think the problem is not Neymar, I think the problem is the consequences of Neymar.”

Liverpool manager Jürgen Klopp said, “I thought Fair Play was made so that situations like that can’t happen. That’s more of a suggestion than a real rule.”

French club Lille director general Marc Ingla, who had once served as Barça’s vice-president said, “It’s a blow for Barcelona. Neymar is an accelerator to this bright future of Ligue 1. The young talent pool we have here is the best in Europe. For sure we can still compete with PSG. Once you get on the pitch it’s 11 v 11 and all the transfer fees and salaries narrow a bit.”

Before the official announcement of the agreement, yesterday, Arsenal’s manager Arsène Wenger also remarked about the financial fair play and said, “Once a country owns a club, everything is possible. It becomes very difficult to respect the financial fair play because you can have different ways or different interests for a country to have such a big player to represent [that] country. It can’t justify the investments and looks unusual for the game. That’s why I always [support] football living with its own resources. You don’t look at the numbers in their absolute value anymore. Football has been for a long time out of normal society and the numbers are like the NBA in basketball, so it’s not comparable to normal life anymore. Those are the numbers. It was already out of context of society, so after it just becomes a bit extra. You cannot calculate what it brings in anymore, it’s just a number.”

On Wednesday, Neymar’s Lionel Messi posted on Instagram: “It was a great pleasure to have shared all these years with you, friend @neymarjr [Neymar]. I wish you good luck in this new stage of your life. See you tomorrow”((es))Spanish language: Fue un placer enorme haber compartido todos estos años con vos, amigo @neymarjr [Neymar]. Te deseo mucha suerte en esta nueva etapa de tu vida. Nos vemos Tkm.

Barcelona’s striker Luis Suárez dedicated an Instagram post for Neymar after Lionel Messi, and said, ” My friend i wish you the best in everything that comes!!! Also thank you for your support, for everything that i learned with you and for the unique moments that we spent together!!!! Keep like this and never change love you little bro”((es))Spanish language: Amigo desearte todo lo mejor en lo que viene!!! También agradecerte todo el cariño que me diste, por lo que aprendí contigo y por los momentos únicos que pasamos!!!! Seguí así y no cambies nunca te quiero hermanito.

Neymar has been assigned number 10 jersey.

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