EU fears Russia will refuse to leave

EU fears Russia will refuse to leave

By Tony Barber in Avignon

Published: September 5 2008 16:42 | Last updated: September 5 2008 23:40

There is growing concern among European Union governments that they will be unable to persuade Russia to withdraw its forces from a “buffer zone” in Georgia, which they occupied during their military victory last month.

The concern emerged on Friday at an informal two-day meeting of EU foreign ministers in the French city of Avignon. Leaders of the 27-nation EU last Monday urged Russia to withdraw its soldiers to positions held before August 7, when Georgia began a military operation to recapture the pro-Russian separatist enclave of South Ossetia.

The Russian forces crushed the Georgians and are at present stationed in what Moscow regards as a “security zone” outside South Ossetia, whose independence – along with that of Abkhazia, a similar enclave – Moscow recognised on August 26.

Nicolas Sarkozy, France’s president, and other EU leaders are due in Moscow on Monday for talks.

Although they stopped short of threatening economic or diplomatic sanctions against Moscow, they said they would postpone talks on a new partnership accord as long as the Kremlin failed to act

They also intend to seal a closer relationship with Ukraine at a summit next Tuesday, though without offering Kiev an explicit promise of eventual EU membership.

Sergei Lavrov, Russia’s foreign minister, told Karel de Gucht, his Belgian counterpart, in Moscow on Wednesday that Russia would keep its forces in the buffer zone as long as there were no “international mechanisms” to provide security.

Mr Lavrov also made clear the troops would not be removed as long as Georgia refused to sign an agreement on the non-use of military force in the future.

EU diplomats said Mr Lavrov’s stance, coupled with Russia’s recognition of Abkhazia and South Ossetia, underlined how difficult it would be to resume normal relations with Moscow in the near future.

“Security and stability must be ensured with Russian co-operation. But for that to happen, Russia must show that it will honour its commitments,” said Luis Amado, Portugal’s foreign minister.

In a deliberate display of unity in the face of Russia’s actions, all EU foreign ministers except Franco Frattini of Italy travelled together to Avignon on Friday in a special high-speed train from Paris.

But the unity appeared to have its limits.

Mr Frattini was in Moscow communicating the views of Silvio Berlusconi, Italy’s prime minister, who regards himself as having an especially close friendship with Vladimir Putin, the Russian prime minister.

Meanwhile, Frank-Walter Steinmeier, Germany’s foreign minister, raised the idea of convening an international inquiry into the causes of the Georgian war, with a view to basing the EU’s future relations with both Russia and Georgia on the outcome of the probe.

EU diplomats said Mr Steinmeier was undoubtedly aware that investigators might well conclude that Mikheil Saakashvili, Georgia’s president, bore some responsibility for the outbreak of hostilities on August 7. However, they noted that there appeared to be little enthusiasm for an inquiry in either Moscow or Tbilisi.

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A confusion of 'peacekeepers'

By Quentin Peel

Published: September 3 2008 03:00 | Last updated: September 3 2008 03:00

Exactly who is fooling whom in Georgia? Russia claims to have its troops there as "peacekeepers", although they were an important party to the conflict. Now the European Union intends to send 200 civilian peace "monitors", although they will not be allowed into the breakaway republics of Abkhazia and South Ossetia, where mass expulsions of ethnic Georgians have been taking place.

Monday's decision by EU leaders in Brussels demands Russian troops return to where they were on August 7, the day when hostilities broke out in South Ossetia. At that time, the vast majority were in Russia, many in the garrison town of Vladikavkaz.

At least, that is where they were supposed to be. If they were already inside South Ossetia on August 7, then the Georgian claim they attacked Tskhinvali that night in response to a Russian invasion will be proved true. Russia maintains its tanks only entered on August 8.

The trouble is, there is not a hope in hell Russia will pull its troops out of South Ossetia now. It has recognised the territory's independence and promised to reinforce its military security. The South Ossetians have officially requested the establishment of a full-scale Russian base there.

Nor will Russia pull out many of the estimated 9,000 troops it poured into Abkhazia, the other secessionist region that has now declared independence.

The EU leaders decided to "postpone" negotiations about a new partnership and co-operation agreement with Russia until the troops are back where they were on August 7. That is what the original ceasefire agreement, negotiated by Nicolas Sarkozy, French president, with Dmitry Medvedev, his Russian counterpart, clearly stated. Mr Sarkozy flies back to Moscow on August 8 to insist on the point.

If the EU is serious, it would mean the partnership talks would have to be postponed indefinitely, if the Russian troops do not go home. Or will the EU simply allow Russia to define the terms of its disengagement?

The best Mr Sarkozy can hope for is that they pull out of the so-called "buffer zone" they have set up around South Ossetia and Abkhazia, deep inside undisputed Georgian territory. That is the only area that 200 unarmed EU monitors will be allowed near. The same is likely to be true for another 100 military monitors from the Organisation for Security and Co-operation in Europe (OSCE).

Yet mass ethnic cleansing seems to have been taking place in the buffer zones and secessionist territories. The UN High Commissioner for Refugees estimates that some 138,000 people have fled south from the two territories. There is no reliable information from inside South Ossetia. The numbers suggest the vast majority of ethnic Georgians have been expelled.

OSCE monitors were told last week they could not enter even the Russian buffer zone as their safety from roaming bands of Ossetian militia could not be guaranteed. "Hard to understand why, if they are supposed to be in charge," an OSCE diplomat said.

Russian officials refer to their troops as "peacekeepers". Dmitry Peskov, spokesman for Vladimir Putin, Russian prime minister, said yesterday there were no "Russian troops" left in the Georgian buffer zones, only "peacekeepers". Whatever they are, they have failed to stop the ethnic cleansing.

By sending in the troops and tanks, and recognising Abkhazian and South Ossetian independence, Russia has changed the reality on the ground. Moscow insists negotiations to put monitors on their territory must be conducted with the independent governments. No one else in the OSCE or EU recognises them as independent.

As for the ceasefire's final point - that international discussions will be held "on the arrangements for security and stability in Abkhazia and South Ossetia" - Russia has simply pre-empted them by its own "arrangements". Any international negotiations seem an exercise in futility.

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Long View: We are now looking at a truly global slowdown

By John Authers, Investment Editor

Published: September 5 2008 21:07 | Last updated: September 5 2008 21:07

Navigating the market is about reconciling a series of dichotomies. At the heart of the drama of the last week, the worst for British stocks in six years, is an apparent paradox.

Friday’s US jobs data were terrible. Joblessness is at its highest in the US in almost five years. Attempts to deny that the world’s largest economy is in trouble are now futile.

But this came as the US dollar was in the ascendant. Since hitting rock bottom this year, the greenback has rallied more than 10 per cent against a trade-weighted index of currencies.

The collapse of sterling has been particularly dramatic. Worth $2.10 less than a year ago, today it is worth less than $1.80.

Explaining how the US dollar can do so well while its economy is in eclipse is critical for predicting how the market may behave during the next year.

Market movements are dictated by flows of funds. If money is flowing into a sector, for whatever reason, its prices will rise.

The latest US data have unleashed a flow of international capital in a fresh direction. But it needs to be viewed in context.

Ever since the credit crisis took hold in the summer of last year, the fall of equities has been braked somewhat by the hope that other countries had a degree of insulation against problems in the US.

The rally in the dollar began to take hold a few weeks ago when it became clear that the European economy was contracting. It had not been able to withstand the US slowdown.

Friday’s jobless figures make it harder than ever to believe that the US has engineered a “soft landing”. This means we are looking at a “worst-case scenario” – a truly global slowdown.

This will increase risk aversion. Any given bet looks less likely to make money, so investors will rush to remove those bets.

In the jargon, this is often called “deleveraging”: paying off debts. Because many hedge funds had been using a “carry trade” strategy – borrowing in currencies such as the yen or dollar, with their low interest rates, and putting money where rates were higher – cutting back on risk will involve money flowing back into the dollar.

Moreover, the flow of funds in recent years has been overwhelmingly out of the US. According to Emerging Portfolio Fund Research of Boston, $391bn flowed into non-US equity funds from 2003 to 2007 compared with only $7.3bn into US funds.

Starting with such a heavy bet on the world outside the US, the logical response to the latest news is to sell the non-US investments and repatriate into the US – either in equities that produce a lot of cash, such as consumer staples, or more likely into Treasury bonds.

Hence, terrible economic news for the US had the effect of sending money gushing towards the US, and pushing up the dollar.

There is no reason to expect this to stop any time soon. International investors still tend to be based in dollars, and the process of retreating from risk will probably be positive for the dollar for a while yet.

In a further paradox, this is bad news for investors in the US. The rising dollar will in due course damage US exporters; moreover, for the long years of the dollar’s decline, their equity investments had continued to profit from what Milton Friedman called “money illusion”. The performance of US stocks, denominated in dollars, did not seem bad, while international stocks’ returns looked great.

Investors who sent their money overseas probably did not realise that they were making a bet against the dollar. But that is becoming clear. Since world stocks peaked on Hallowe’en last year, dollar-based investors have suffered losses of 31.9 per cent in the emerging markets and 25.6 per cent in the developed world outside the US, according to MSCI indices. These are much worse than the return on the S&P, which is down 18.7 per cent. With the dollar gaining, it is almost impossible for them to make money in stocks.

The opposite is true for British sterling-based investors. An e-mail from a reader asked this week at what point the fall in sterling could be called a “crisis”. Sterling, on a trade-weighted basis, has tumbled more than it did in the autumn of 1992, when it was forced out of the exchange rate mechanism of the European Monetary System, so the question makes sense.

But the answer is that we are still nowhere near a crisis. A true foreign exchange “crisis” occurs when a government is trying to defend a fixed rate. It is not clear that a floating currency can suffer a crisis. That is particularly true if, as with sterling, it starts at a wildly overvalued level that must hamper the economy. Even at $1.78 to the pound, a quick comparison of prices in New York and London makes clear that the pound has not yet dropped to fair value.

And for British investors, the sudden devaluation has been a boon. In sterling terms, the S&P 500 is down only about 5 per cent since Hallowe’en. Americans who put their money into the FTSE 100 at that time are down 31 per cent.

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Rice buries enmity on historic step in Libya

By Heba Saleh in Cairo

Published: September 5 2008 22:52 | Last updated: September 5 2008 22:52

Condoleezza Rice, the US secretary of state, arrived in the Libyan capital Tripoli on Friday on what she described as a “historic visit” that was proof Washington had no “permanent enemies”.

“This demonstrates that when countries are prepared to make strategic changes in direction, the United States is prepared to respond,” said Ms Rice.

The US secretary of state, who arrived in the early evening, met Colonel Muammer Gaddafi and shared an iftar, the traditional meal that Muslims eat at sunset when they break their fast during Ramadan.

The highest-ranking US official to go to Libya in more than 50 years, her visit was made possible by an agreement between Libya and the US last month on establishing a fund to raise about $1bn (£566m) to settle remaining claims by victims of attacks linked to Libya, such as the bombing of Pan Am flight 103 over Lockerbie, Scotland, in 1988. The fund would also make payments to victims of a 1986 US attack on Libya.

Ms Rice was expected to use her visit to press Libya to deposit money in the compensation fund and to smooth the ground for US business to return to the oil-producing north African country. She was also expected to discuss with Col Gaddafi ways to deepen anti-terrorism co-operation between their two countries.

Officials also said that regional issues such as the conflict in Sudan were on the agenda. But beyond these practical aims the visit has vast symbolic significance because it will be taken to mean the US had finally acknowledged Libya’s return to international respectability.

This was a process that was aided first by Col Gaddafi’s decision to co-operate on the Pan Am bombing and by his announcement in 2003 that he had decided to relinquish efforts to obtain weapons of mass destruction.

“For all the bad relations that once existed between Libya and the United States, Libyans from the man on the street all the way up into the elite want better relations with the United States and, in particular, greater access to US education,” said Dirk Wandervalle, an American expert on Libyan affairs.

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India and US battle to lift nuclear ban

By Daniel Dombey in Washington and James Blitz in London

Published: September 5 2008 18:38 | Last updated: September 5 2008 18:38

The US and India were struggling Friday night to get the international community to lift a ban on nuclear trade with New Delhi immediately, leaving the fate of a high profile US-Indian civil accord in doubt.

After two days of negotiations involving 45 countries over whether to lift the ban, western diplomats said the Vienna meeting was likely to wind up Friday night without any agreement being reached to give New Delhi the exemptions it needs.

Western diplomats said that if the 45 members of the Nuclear Suppliers Group – a body that regulates the international trade in nu­c­lear material – failed to reach agreement, they would have to decide when to re-convene for further discussion. “The prospects for an agreement look incredibly distant,” said one diplomat from a state supporting the US stance on the deal. “We don’t see this as being the end of the process but there now will have to be reflection on when the NSG should meet again and what kind of deal can be agreed.”

Friday’s difficulty in reaching an agreement makes it unlikely that the accord will come into effect before President George W. Bush leaves office.

An agreement by the NSG is essential if the US Congress is to approve the deal. Friday night’s delay means the US Congress may now run out of time to ratify the deal before it adjourns at the end of September for elections, relegating the matter to an uncertain fate under a new president.

India and the US both argue that their deal would strengthen global non-proliferation efforts and reward what they say is India’s responsible record as a de facto nuclear weapons state. However, countries such as the Netherlands, Ireland, Austria, Switzerland, Norway and New Zealand have held out for a clear commitment to cease co-operation with Delhi in the event of a nuclear test.

There are also signs that the countries with concerns have been backed by China, following the publication this week of an opinion piece critical of the deal in the People’s Daily, the leading newspaper of the Chinese Communist party.

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US ship docks in occupied Georgian port

By Isabel Gorst in Tbilisi

Published: September 5 2008 17:29 | Last updated: September 5 2008 17:29

A US navy vessel bearing humanitarian aid for Georgia anchored on Friday off Poti, a Georgian Black Sea port still partially occupied by Russian forces.

The entrance of the US warship into Georgian waters risked provoking a fresh outburst from Russia, which has complained that the increasing presence of Nato vessels and US warships in the Black Sea upsets the balance of power in the region.

However, Andrei Nesterenko, an official at the Russian foreign ministry, said, “There is no talk of military action” in the Black Sea.

Two US vessels delivering humanitarian aid to Georgia last month avoided Poti, docking instead at Batumi, a port further south, outside the zone controlled by Russia during the conflict.

At the time Russia accused the US of smuggling arms to the Georgian coast under the guise of humanitarian aid deliveries.

An official at the US embassy in Tbilisi said the USS Mount Whitney was unloading aid at Poti for “logistical” reasons. Poti is larger than Batumi and is connected to Georgia’s east-west highway.

Russian warplanes destroyed a military base near Poti and sank several Georgian vessels in nearby waters during the conflict with Georgia over the separatist republic of South Ossetia last month.

The US and the European Union have condemned Russia’s continuing occupation of Poti as a breach of the French-brokered ceasefire agreement signed by Russia and Georgia.

Dmitry Rogozin, Russia’s permanent representative at Nato, warned this week that Russia would use military methods to track US vessel movements in the Black Sea.

However, Pavel Felgenhauer, a Russian defence expert, said, “I am sure Russia will not take any military action. No one wants an escalation.”

Huge capital flight from Russia and plunging Russian stock prices in the aftermath of the Georgian conflict would, in any case, diminish Moscow’s appetite for confrontation, he said.

The Mount Whitney’s arrival at Poti coincided with a visit by Dick Cheney, the US vice-president, to Ukraine, which, like Georgia, has angered Moscow by striving to join Nato.

During talks with Viktor Yushchenko, the Ukrainian president, on Friday, Mr Cheney discounted Russian opposition to the eastward expansion of the alliance.

“No outside country gets to veto,” he said.

Yushchenko has challenged Moscow by proposing to change the terms of a lease agreement under which the Russia bases its Black Sea fleet at the Ukrainian port of Sevastopol.

Serge Bagapsh, president of Georgia’s breakaway enclave of Abkhazia, has invited Russia temporarily to base its Black Sea fleet at Sukhumi on the Abkhazian coast.

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Trichet sees investor role in oil shock

By Ralph Atkins in Frankfurt

Published: September 5 2008 18:06 | Last updated: September 5 2008 23:44

The oil price shock that has hit global growth could have been exaggerated by financial speculation, Jean-Claude Trichet, European Central Bank president, suggested for the first time on Friday.

Going further than comments by other central bankers, Mr Trichet argued it was “reasonable conjecture” that financial investors had distorted commodity markets, leading to prices above those justified by fundamental supply and demand factors.

His remarks were significant because they indicated policymakers believe this year’s peaks in oil prices were unsustainable. Benchmark oil prices hit more than $147 a barrel in July but have since dropped by $40. Further falls would help to boost growth as well as assist central banks to fight inflation.

The ECB sees higher oil prices as a big factor in explaining the slowdown in eurozone growth, hitting consumer spending as well as demand for its exports.

Adding to the gloom, Germany on Friday reported a sharper-than-expected 1.8 per cent fall in industrial production in July. Data earlier this week had shown industrial orders fell for for the eighth month in a row.

Further falls in energy prices would strengthen ECB optimism that weak eurozone growth will be followed by a “progressive recovery” later this year.

Speaking at a Centre for Financial Studies “ECB watchers” conference in Frankfurt, Mr Trichet argued that, on one “benign” view, investors could have played a helpful role in commodity markets by expanding liquidity and making price-setting processes more efficient. The volatility created “might have been the price to pay to avoid even higher volatility in the future”, he said.

But the ECB president also said that financial investors had encouraged sellers to accumulate inventories or delay production, so as to take advantage of expected higher prices. This could have exaggerated changes in prices beyond what would have been expected by fundamental economic factors.

Mr Trichet added: “If this seems to me a reasonable conjecture, I admit, though, that existing evidence does not provide uncontroversial support to the notion.”

His comments echoed arguments by Alan Greenspan, former chairman of the US Federal Reserve, who said in an interview with the Financial Times last month that speculation was “importantly responsible” for the rapid move in oil prices.

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Schools look to expansion in the Gulf

By David Turner, Education Correspondent

Published: September 5 2008 23:04 | Last updated: September 5 2008 23:04

English private schools are expanding into the Gulf, seeking to capitalise on burgeoning demand from wealthy expatriates and locals and keep fees down in the UK.

Oundle School is to open an offshoot in Dubai in September next year; Wellington College is in advanced talks to open a sister academy in Bahrain in 2010; and Brighton College is “in negotiations” over a planned school in Abu Dhabi.

They follow on the heels of Repton, which became the first traditional English independent school to open a branch in the Gulf a year ago. It is expanding this month, adding a senior college to its Dubai prep. “We have stolen a march on everyone else,” says Carl Bilson, bursar at Repton.

In recent years, English private schools have sought additional sources of income by opening private schools in the Far East. Until now, however, they had shied away from the Gulf, deterred by fears that Islamic culture would make it hard to create sister schools with any resemblance to the original home model.

The business opportunity arises from the attractions of an English private school education to the growing number of expats and Middle Eastern families. Fluency in English, internationally recognised qualifications and centuries-old brands are part of their appeal.

Tradition and Englishness are also a selling point. There are already several international schools in the region. But Charles Bush, head of Oundle, says traditional English private schools have “a tremendous amount of expertise to offer”. Above all, some enjoy a reputation that could give them a head start.

Most of the schools operating abroad have to offer education in co-operation with local partners, whose quality may vary. But institutions that have expanded overseas say this can be solved by picking partners carefully. Mr Bilson of Repton says Evolvence, a Dubai-based alternative investor, is “buying our name from us. They’re buying our brand.” To protect its reputation, Repton “has acted in an advisory capacity”.

But the potential for spoiling their brand also makes some English schools wary of expanding abroad. The headmaster of one famous school told the Financial Times he had rejected the idea because, “I don’t want to damage the brand”.

Both Repton and Oundle expect to make money from their ventures, with Repton’s Mr Bilson saying he wants to do “anything that we can do” to keep a lid on UK fees.

Analysts say British schools will face tough competition from international rivals based in the US, Dubai and other countries. French schools can be popular even with English-speaking parents in the Gulf, for example, because of the comforting uniformity of French education the world over.

Harriet Plyler, of Good Schools Guide International, describes the Middle Eastern market for schools as “like the wild west. Things are growing up before your very eyes”.

Commenting on Dubai specifically – the place with the highest density of western expats – she adds: “People are moving out there so fast, and when they get there, there are simply not enough [school] spaces.”

English private schools are also late to the field compared with educational charities and companies, which have been operating in the Middle East for some years.

Nord Anglia, the education company, has “school improvement and teaching” contracts with the Abu Dhabi government for “about 20 schools”, according to Andrew Fitzmaurice, chief executive. It also does work in Saudi Arabia and Bahrain and will set up its own international school in Qatar “when we find the right site”.

Mr Fitzmaurice says the Gulf is a growth area for the company because “the Gulf states are using petrodollars to create human capital and sustainable economies. For that, they need their own people to be well educated.”

WCLS, the UK education company, already has a primary school in Qatar, Compass International, which teaches an English-style syllabus. The company also sees business opportunities elsewhere in the Gulf.

But Marcel van Miert, chief executive, warns that fees at Gulf private schools will “increasingly have to be big” because of high land prices and inflation. However, Repton Dubai fees, charged in the local dirham, are still slightly lower than the UK senior school’s at current exchange rates.

UK education charities are already in the Gulf too. One of the biggest UK operators is CfBT, which has 27 Abu Dhabi school contracts.

Wellington plans foreign invasion

Wellington College has revealed ambitious plans to expand into Bahrain and across Asia, but with a twist: Anthony Seldon, the headmaster, does not want to make any money from his overseas ventures, writes David Turner.

Other schools have talked of using sister schools abroad to subsidise bursaries or lower fees at their original British premises. But Mr Seldon says: “The plan is the project will cover its own costs.” He intends to establish a school in Bahrain in 2010, and is looking to set up one school each in India and the Far East in the next few years. “If one looks at most of Britain’s unique selling points in the 21st century, what do we have left? Manufacturing is outsourced, professional services are outsourced but education clearly is one of our strongest features. We ought to be supporting this move abroad. It’s taken a few hundred years to develop this expertise.”

Wellington’s overseas schools will follow an ultra-traditional model, adhering to the Berkshire school’s traditions. Local children will have to learn that Orange is not just a fruit or a colour but the name of a Dutch prince who served (incompetently) alongside the Duke of Wellington at Waterloo – and more importantly, the name of a house at all future Wellington schools abroad. Mr Seldon argues this is not parochialism, but a good way to teach international history.

His vision is “a family of schools” at home and abroad.

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States feel debt pinch

By David Oakley

Published: September 5 2008 23:32 | Last updated: September 5 2008 23:32

Bond yields of Portugal, Italy, Greece and Spain widened to record levels against Germany on Friday as fears rose that these economies could face increasing problems in a deteriorating financial climate.

Yields on benchmark 10-year Portuguese, Italian and Spanish bonds rose to their widest levels against Germany since the launch of the eurozone in January 1999, while those of Greece rose to highs not seen since it joined the single currency in April 2001.

Analysts warned that these countries could run into difficulties in funding their spending programmes as their economies slow and their debt costs rise, making them less competitive in relation to Germany, Europe’s biggest economy.

Yields have fallen to four-month lows this week, although in broader terms, they are still trading at about six-year highs.

The widening bond spreads come amid growing risk aversion after a big fall in global stock markets this week and increased concerns about the financial health of the banking system. Investors typically switch into German bonds in times of stress as they are the most liquid and are considered the safest.

The fourcountries all have high levels of debt with Greece running a current account deficit of 15 per cent of gross domestic product, Portugal 11 per cent and Spain 10 per cent. Italy has a low current account deficit but it has a debt to GDP ratio of 110 per cent.

Alessandro Tentori, chief European strategist at BNP Paribas, said: “Germany is in better shape in fiscal terms than the peripheral nations, which are likely to face greater difficulties in terms of funding.”

He added this may impact on growth, slowing their economies further. Spain and Italy are already in recession, according to some analysts, while the outlook is gloomy for Greece and Portugal. Other than the four Ireland and France could also come under pressure, although France has a low current account deficit and Ireland has low debt to GDP levels.

Giuseppe Marafino, a fixed income strategist at UniCredit, said: “In terms of growth Italy and other peripheral economies could start to lag behind Germany. In a climate of increasing risk aversion, Germany is in a better position to weather any difficulties. Its bonds are likely to do better than those of the peripheral eurozone economies.”

Meyrick Chapman, fixed income strategist at UBS, added: “Funding costs are almost bound to rise for borrowers. For peripheral government issuers, this will put pressure on their economies.”

Spreads between Germany and the peripheral nations have been gradually widening this week. But they rose to record levels on Friday as concerns grow over the global economy and the health of the financial sector.

In early evening trading in London, German 10-year bond yields stood at 4.0 per cent, leaving the yield spread between Spanish bonds and Germany at 41 basis points. Portuguese bond spreads rose to 52bp, Italian spreads rose to 67bp and Greek spreads to 73bp.

Although bond yields are slightly lower than at the height of the Bear Stearns crisis in the middle of March, they are near six-year highs with many analysts forecasting that they will rise further.

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The bountiful game

By Roger Blitz

Published: September 6 2008 03:00 | Last updated: September 6 2008 03:00

Late on Monday, a Real Madrid official telephoned Robinho, its Brazilian star striker, to tell him he had been sold. "You're on your way to Manchester," Robinho was told.

But when the 24 year-old arrived at the airport to meet his new employers, he was said to be confused. The welcoming party were sporting the blue of Manchester City rather than the red of United.

It may be an apocryphal story, but then again much of the reality of what happened that day in football seemed a lot stranger than fiction. Manchester City, a middling Premier League club struggling for decades in the shadow of its illustrious and infinitely more successful rival , had just announced that it was being bought for £210m by Abu Dhabi United Group, a group of investors who, it turns out, are acting for a member of the emirate's ruling family.

In a stroke, City had been transformed into the richest-backed club in the biggest league of the biggest sport in the world. Like the kid sporting shiny new boots on his first day back at school, the club was also kicking lumps out of the big boys in the playground by announcing it had broken the British transfer record, paying £32.4m for the temperamentally suspect Brazilian and giving him a salary of £160,000 a week.

This was giddying, even by the exalted standards of the Premier League, whose television reach extends to 660m homes in more than 200 countries. "This has become a club for the trillionaires," says Jon Smith, one of the longest-serving football agents in the business. "If you are a serious brand player, it's the only thing on this planet that gives you a quarter of the world's population every week."

The power of the brand is such that the super-rich club owners are now jostling with the dynasties of petrodollar-filled kingdoms. Not for the first time, the question arises: is the Premier League's money bubble full to bursting point?

It certainly looks unreal. Armed with its new-found riches, City toyed with its fiercest rival on the way to securing Robinho, mounting an audacious £30mplus bid for Tottenham Hotspur's moody but talented Dimitar Berbatov, a striker Manchester United had been trying to buy for months. United got their man in the end but City was tweaking its rivals' noses. City had not just outbid Chelsea for Robinho. Sulaiman al-Fahim, the front man for Sheikh Mansour bin Zayed al-Nahyan, brother of Abu Dhabi's ruler, casually listed the players City would bid for in the next transfer window. Among them was Cristiano Ronaldo, United's disenchanted Portuguese maestro, who Mr al-Fahim thought would be worth £135m.

Even allowing for the frenetic pace of modern-day football deals, this week's events were breathtaking. Robinho did not even have time for a medical (and it is understood only £3m of his transfer fee has actually changed hands because the City takeover is by no means complete). Two things are clear, though. First, football's ability to court big money, even in times of hardship, is undimmed. Kevin Keegan and Alan Curbishley resigned this week as respective managers of West Ham United and Newcastle United - clubs of similar stature to Manchester City - because their owners wanted to control spending. But while these clubs tighten belts, others loosen theirs. The transfer window that has just closed saw a record £500m in deals.

Second, investor interest in the Premier League has reached a level that threatens the established order of England's footballing elite. Until Monday, Roman Abramovich, Chelsea's Russian billionaire owner, ruled the footballing transfer merry-go-round. His personal wealth, derived from energy interests in Siberia and estimated by Forbes at £11.6bn, had for five years given the associate of Vladimir Putin, Russia's prime minister, first pick of world talent. Players such as Didier Drogba, Michael Ballack and Deco were lured to west London where they received huge salaries.

Manchester United, the most valuable club in the world, was happy to compete with Chelsea for trophies. Arsenal and Liverpool, the other powerhouses in English football, made up the "big four" that for three seasons running have taken up the four prized places in Europe's Champions League. But the arrival of "ultra-rich" investors such as Abu Dhabi signals that wealthy individuals including Mr Abramovich and families such as the Glazers, Manchester United's US-based owners, are about to face competition from rivals with far greater assets at their disposal.

All of them are bent on exploiting the formidable brand of the Premier League and its clubs. "They are like diamonds," says one person close to the Abu Dhabi takeover. Premier League clubs are cherished for a perceived immunity to economic squalls, according to Dan Jones from Deloitte, the consultancy: "It's not about making yield year-on-year or a regular dividend stream - it's about making a return on capital growth."

Against this background, profitability is relegated to second place. "It requires some suspension of your normal economic belief, but football is not unique," adds Mr Jones. "People buy wine, paintings, restaurants and hotels. They don't make them a lot of money but, should they want to sell them, they make their money back and more."

Under the current three-year contract, the Premier League commands domestic TV revenues of £1.7bn from the broadcasters Sky and Setanta and £625m for overseas rights. With 90,000 hours of coverage available across 380 matches, no sporting series can touch it for its penetration in so many markets over a timespan that stretches across 10 months of the year.

The Manchester City deal demonstrates how the Premier League is floating up and away from rival leagues. Nearly 20 years ago, England's top clubs saw they were struggling against more classy and appealing leagues such as Italy's Serie A and La Liga in Spain. The creation of the Premier League in 1992 and the collective sale of TV rights changed the landscape, to the extent thatsports such as American football and US basketball, which have reached maturity in their home market, look with envy at the Premier League's global reach.

The Americans themselves have made a land grab at the Premier League. Over the past few years, overseas investors have plucked the best clubs from the hands of family interests or local British entrepreneurs and US sports franchise owners have snapped up Liverpool and Aston Villa as well as Manchester United. They are not alone. A Russian entrepreneur owns Portsmouth, an Icelandic banking consortium bought West Ham United and Abu Dhabi's investors took Manchester City from Thaksin Shinawatra, former prime minister of Thailand, who paid £81m for the club last year.

Is there money to be made in football? The American investors still think so, believing that they can bring sophisticated marketing to clubs that have global name recognition but little idea how to profit from it. But some in the business note that interest from the US has stalled as the credit squeeze has taken hold. Sovereign wealth funds with different objectives are stepping in. Mr al-Fahim says one of the objectives of the Manchester City deal is to position Abu Dhabi as a "sports and cultural hub".

Abu Dhabi can expect to be joined at the Premier League's high table by Dubai, which wants to host global sports events. Dubai's ruling family nearly bought Liverpool two years ago and remain determined to prise it from its US owners. But these are by no means going to be the only new moguls in the Premier League. Rumours have in the last year linked Manchester United and Tottenham to interest from Asia. These and other clubs can safely assume that their values shot up this week.

Fifa and Uefa, football's world and European governing bodies, fret about such concentration in wealth and the imbalance between English and continental European clubs. But the signs are that some of the latter are ready to ape rather than -disparage their English counterparts, and put themselves up for sale.

None of this inflation worries the Premier League's gatekeepers. "People said we were a bubble going to burst," says Richard Scudamore, the league's chief executive. "They said it eight years ago, six years ago, four years ago. From all the indicators we've got, we don't think interest is lessening."

Willing sellers are still to be found. Bill Kenwright, longsuffering chairman of Everton, told supporters this week he wanted a foreign investor to enable the club to compete on the pitch and in the transfer market. He has hired Keith Harris, chairman of stockbroker Seymour Pierce, to find him a billionaire.

Mr Harris expects the knock-on effects of the Manchester City deal will keep him busy. "Some of it is going to be crazy spending, but there is a bandwagon beginning to roll again," he says.

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U.S. may take control of mortgage giants
Reuters
By Glenn Somerville and Al Yoon Reuters - Saturday, September 6 06:09 am

WASHINGTON/NEW YORK (Reuters) - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history.
(Advertisement)

The two government sponsored enterprises (GSEs) own or guarantee almost half of the country's $12 trillion (6.8 trillion pounds) in outstanding home mortgage debt.

The Wall Street Journal reported earlier on Friday that the U.S. Treasury Department is close to finalizing a plan to restructure the two companies that includes changes to their senior management.

The plan could be announced as early as this weekend, the Journal said.

U.S. Treasury spokeswoman Brookly McLaughlin declined to comment on the Journal report on Friday. Fannie Mae and Freddie Mac spokesmen also declined to comment. The Federal Reserve, which earlier this year gave both companies the right to borrow from its discount window if necessary, declined comment also.

The two firms would be placed in "conservatorship", the Washington Post said, citing sources familiar with the discussions.

The value of the company's common stock would be diluted but not wiped out, while the holdings of other securities, including company debt and preferred shares, would be protected by the government, the Washington Post said.

Senior Bush administration and Federal Reserve officials called in top executives of Fannie Mae and Freddie Mac on Friday and told them that the government was preparing to place the two companies under federal control, officials and company executives told the New York Times.

Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson were present at meetings with James Lockhart, the director of the Federal Housing Finance Agency, the regulator of the two companies, and with Fannie Mae CEO Daniel Mudd and Freddie Mac CEO Richard Syron on Friday, Reuters can confirm. There were separate meetings with the two CEOs.

The executives were told they and their boards would be replaced and shareholders value diluted, but the companies would be able to continue functioning with the government generally standing behind their debt, the New York Times said.

Daniel H. Mudd, chief executive of Fannie Mae, and Richard Syron, his counterpart at Freddie Mac, are expected to step down from their posts eventually, the Wall Street Journal reported.

Earlier, McLaughlin had told Reuters the department was "making progress on our work" with Morgan Stanley, the Federal Housing Finance Agency, and the U.S. Federal Reserve.

The U.S. Treasury had hired Morgan Stanley on August 5 to advise it on whether the companies were adequately capitalized and help it determine how it would use its new powers to support the GSEs.

An emergency plan approved by Congress in late July gave Treasury the authority to offer an undetermined amount of credit to the two companies, or take an equity stake in them if they ran into trouble. The housing legislation signed into law by President George W. Bush in July requires the companies agree to a Treasury backstop.

Shares of the two government sponsored enterprises (GSEs)have plunged about 80 percent since mid-May this year as the U.S. housing market slump resulted in the two companies reporting about $14 billion in losses in the past four quarters, eroding some of their capital.

"People have priced in an equity infusion that would wipe out shareholders," said Chuck Gabriel, managing director at Washington-based consultants Capital Alpha Partners. "On the other hand, they have come to understand you wouldn't have such an event without the GSEs agreeing to it."

Financial markets have come to expect that an investment by the U.S. Treasury would explicitly back the companies' $1.6 trillion in debt, but leave their shares nearly valueless.

The Wall Street Journal, citing people familiar with the matter, said the plan was expected to involve the creative use of authority the Treasury won from the U.S. Congress to pump capital into the two government-sponsored enterprises if it believed it was necessary.

Instead of giving each company a big capital infusion up front, the government plans to make quarterly infusions as the companies' losses warrant, sources told the Washington Post late Friday. This would be an attempt to minimize the initial cost of the rescue, the paper said.

Shares of Fannie Mae and Freddie Mac, which had rebounded since August 21 on speculation a government intervention might be averted, plunged in after-hours trading in New York on Friday.

Fannie Mae stock fell 16.9 percent to $5.85, while Freddie's shares declined 7 percent to $4.74.

Analysts at Citigroup, Merrill Lynch, and Goldman Sachs since mid-August have issued reports saying the companies had plenty of capital to operate for the near term, and both companies have successfully rolled over debt on schedule in the meantime. Yield spread premiums on the companies' senior debt narrowed as traders bet government funding would cut their risks.

However, the major credit rating companies since August 22 all cut their ratings on preferred stock of the two GSEs on expectations that the share price declines had cut access to capital, increasing the need for emergency financial support.

The companies never lost their access to capital markets where they raise money to support the U.S. housing market, but the biggest buyers of the debt have grown more cautious.

Foreign central banks reduced their holdings of "federal agency" debt in custody at the Federal Reserve in the past week for the seventh week in a row.

Russia has continued reducing its holdings of agency debt, Alexei Ulyukayev, first deputy chairman of Russia's central bank, said on Friday.

The U.S. Congress created Fannie Mae as a government agency in 1938, during the Great Depression, to buy government-insured mortgages from lenders, providing them fresh money to make more loans.

Fannie continued to function as a government-run agency during the 1940s and 1950s, even as it took steps toward privatization. In 1968, President Lyndon Johnson decided to turn Fannie into a shareholder-owned company.

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apan's Nomura eyes Lehman bid: report
AFP
AFP - Saturday, September 6 05:33 am

TOKYO (AFP) - The president of Japan's biggest brokerage house Nomura Holdings said the company was considering buying a stake in troubled US investment bank Lehman Brothers, a report said Saturday.
(Advertisement)

The move would be part of a plan to spend more than 200 billion yen (1.9 billion dollars) on investment in US and European financial institutions Kenichi Watanabe said in an interview in the Yomiuri Shimbun.

Lehman "is one of the candidates in which we plan to invest," Watanabe said without elaborating.

A number of overseas banks and securities firms are said to be considering bidding for a stake in Lehman, which suffered billions of dollars in writedowns and credit losses amid the meltdown in US subprime mortgages sector.

A news report from Seoul said the state-run Korea Development Bank (KDB) had offered to buy a 25 percent stake in Lehman for more than four billion dollars.

Japan's largest banking group, Mitsubishi UFJ Financial Group, has denied a news report that it was considering bidding for a stake in Lehman, which will report third quarter results next week.

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Japan-led consortium buys power firm: Temasek
AFP
AFP - Friday, September 5 05:31 pm

SINGAPORE (AFP) - A Japanese-led consortium has won the bid for Singapore's largest power generation company being sold by state-linked investment firm Temasek Holdings, Temasek said Friday.
(Advertisement)

The deal is worth 3.65 billion Singapore dollars (2.5 billion US) in cash, it said.

Temasek signed a share purchase agreement with Lion Power Holdings Pte Ltd, owned by a consortium comprised of Japan's Marubeni Corp and other firms, for 100 percent sale of Temasek's wholly-owned power firm Senoko Power, a news release said.

Marubeni operates in Japan and globally across a wide range of sectors from food to power.

Lion Power will also assume 323 million Singapore dollars worth of Senoko Power's net debt as of March 31, bringing the total value of the deal to about four billion dollars, Temasek said.

The transaction is expected to be completed by next Friday.

"The Lion Power consortium partners are all established industry players with strong track records in power investments globally," said Gwendel Tung, Temasek's director of investment.

Also part of the consortium are GDF SUEZ S.A, The Kansai Electric Power Co. Inc, Kyushu Electric Power Co. Inc. and Japan Bank for International Cooperation, Temasek said.

Senoko is the second of three local power generation firms Temasek is unloading as part of efforts to liberalise the domestic energy market.

Temasek said in March that it had signed a share purchase agreement with SinoSing Power Pte Ltd, a wholly owned subsidiary of China Huaneng Group, to sell Tuas Power Ltd for 4.235 billion Singapore dollars (2.96 billion US).

Temasek's third power generator is Power Seraya.

Last month Temasek reported a record profit of 18.2 billion Singapore dollars for the year to March, and said its portfolio rose in value to 185 billion Singapore dollars.

Temasek has controlling stakes in major regional firms and has invested billions of dollars in troubled US investment bank Merrill Lynch since late last year.

It is one of two Singapore government investment vehicles, along with the Government of Singapore Investment Corporation.

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Philippine minister says BHP to continue work at mine
Reuters
Reuters - Friday, September 5 12:14 pm

MANILA (Reuters) - BHP Billiton will continue development work at a Philippine nickel project despite a long-running dispute with its local partner, the minister in charge of the mining sector said on Friday.
(Advertisement)

BHP, the world's biggest miner, has been in disagreement with unlisted local firm Asiaticus Management Corp since late last year over when to start commercial production at the Pujada site in the southern region of Mindanao.

"They have no intention of withdrawing," Lito Atienza, the secretary for environment and natural resources, told Reuters after meeting with BHP officials including Chris Campbell, BHP's chief development official for stainless steel materials, and country manager Troy Charlton.

"At this point, we can graduate to specifics and (BHP) is willing to study Asiaticus' proposal," Atienza said, declining to go into specifics. "To me, this is a significant step."

The Philippine group has accused the Australian miner of moving too slowly in developing the nickel project and has been pushing for immediate commercial production. Pujada is estimated to have 200 million tonnes of nickel ore reserves with 1.3 percent nickel.

The government, which is hoping to attract $10 billion (5.68 billion pounds) in investments to the mining sector over the next three years and is banking on BHP being a key contributor, is trying to mediate between the industry giant and Asiaticus.

BHP has scaled back operations due to the dispute and is seeking to resolve it through international arbitration.

BHP has committed to invest up to $2 billion in the mine site including a nickel processing plant and has spent nearly $3 million so far for exploration, based on latest government data.

Only around $1.7 billion has flowed into the Philippine mining sector since 2004 when the Supreme Court allowed foreign companies 100 percent ownership of local mining projects.

Asiaticus had cancelled its joint venture agreement with BHP due to the disagreement, prompting BHP to halt exploration activities in Pujada since May.

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Lloyd's of London chairman calls for tax cuts
Reuters
Reuters - Friday, September 5 10:22 am

LONDON (Reuters) - The tax regime for Lloyd's of London must be eased if the 320-year old insurance market is to retain its international competitiveness, its chairman Lord Levene said in a speech late on Thursday.
(Advertisement)

"The tax treatment of Lloyd's in the UK must be amended for us to stay on top," Levene said.

"It is under threat from other markets, notably in offshore centres whose tax regimes are very attractive."

Lloyd's of London faces a mounting competitive threat from emerging insurance industry hubs such as Bermuda and Dublin.

Last year, several Lloyd's insurers, including Hardy Underwriting and Kiln , moved to Bermuda to take advantage of the island's lighter tax and regulatory regime.

Hardy announced its move in Dec 2007, and analysts said at the time that moving to Bermuda could halve the company's tax rate.

"(The government) now tell us that they understand the force of our argument and hope to reach a decision soon. I fear though that 'soon' may become a moveable feast, and we need a favourable decision now," said Levene.

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窓口負担3割の夫婦、１割負担に戻す　後期高齢者医療で厚労省

　厚生労働省は75歳以上が対象の後期高齢者医療制度で、夫婦の一方が同制度の対象者となることで、今年8月から医療費の窓口負担が1割から3割に増えた一部の高齢者について、元の1割負担に戻す方針を固めた。政令を改正し、来年1月から実施する。対象は全国で1万数千人とみられ、必要な財源は数億円の見通し。

　対象は夫婦のいずれかが75歳以上で後期高齢者医療制度に移り、一方が74歳以下で国民健康保険など既存制度に残ったケースのうち、夫婦のどちらかが「現役並みの所得」と判定されて3割負担に変更された人。与党からも「世帯全体の所得は変わらないのに、負担が増えるのはおかしい」との批判が出ており、見直すことにした。

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社保庁、厚生年金全記録を調査へ　改ざん疑惑受け

　社会保険庁は5日、厚生年金の支給額を算定する基礎となる「標準報酬月額（月給水準）」の改ざん疑惑を巡って、厚生年金の全オンライン記録を調べる方針を固めた。対象は同庁がコンピューターで管理している1億5600万件。不審な点が見つかった人には確認を求める通知を送る。調査のため、一定の条件に当てはまる記録を抽出するコンピューターシステムも開発する。

　調査方針は9日に開く「年金記録問題に関する関係閣僚会議」で報告する。記録の改ざんを年金加入者本人が見つけるのは難しいため、民主党などが社保庁に全記録のチェックを求めていた。

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ボーイング最大労組、スト突入　日本企業にも影響

　【ニューヨーク＝小高航】米ボーイングの最大労組、国際機械工労組（ＩＡＭ）は6日、主力のエバレット工場（ワシントン州）などで一斉にストライキに突入した。航空機世界首位の同社で生産停止が長引けば、日本企業を含め燃料高で低燃費機種を渇望する航空会社や、部品などのすそ野産業に影響が及ぶのは確実だ。

　「労使間の意見の隔たりが大きすぎた」。ボーイング民間航空機部門のスコット・カーソン社長兼最高経営責任者（ＣＥＯ）は5日夜、労使交渉が決裂したことを伝えるコメントを出した。ＩＡＭのトム・ブロブルスキー地区委員長は「我々労働者を軽視した結果だ」と経営側を非難した。

　ボーイングは同日、スト期間中は航空機の新規生産を断念すると発表した。ＩＡＭは工場労働者を中心に約2万7000人の組合員を抱える最大労組。スト入りにより、「７７７型」や「７４７型」など主力機種を生産するエバレット工場が機能停止に陥るためだ。

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個人向け債券の発行急増　１―８月、前年比３倍

　国内外の企業が日本の個人投資家向けに発行する債券が急増している。今年8月までに発行された普通社債（ＳＢ）と円建て外債（サムライ債）の合計額は 8000億円強と、前年同期の3倍に達した。金融市場の混乱を背景に、資金調達先を分散したい企業が株式などのリスク資産から逃避する個人マネーを取り込む動きを強めている。来週には野村ホールディングスとシティグループが起債する予定。世界の社債発行規模が縮小するなか、比較的安定した日本市場の堅調さが目立っている。

　社債とサムライ債の発行額は8月末時点で8411億円と前年同期の3.2倍に増加した。来週には野村とシティが個人向け債券を発行する予定だ。いずれも 3年物で表面利率はそれぞれ0.7―1.7％、2.5―3.5％程度とみられる。発行額は現在調整中。このペースが続けば、年間で過去最高だった2001 年（1兆2000億円強）を上回る可能性もある。

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トヨタ、超小型車「ｉＱ」一般試乗会　発売前、50組参加

　トヨタ自動車は6日、年内に発売予定の超小型車「ｉＱ」の一般向け先行試乗会を愛知県犬山市で開いた。ｉＱは全長が軽乗用車より約40センチメートル短い3メートル弱で、4人乗り乗用車では世界最小クラス。ガソリン高で需要が冷え込む国内や欧州での販売テコ入れを狙う目玉商品だ。トヨタが発売前の車の一般向け試乗会を開くのは初めて。

　試乗会には抽選で選ばれた約50組が参加。「走りが安定している」「内装が充実している」などと話した。犬山市に続き、月内に神奈川県大磯町、和歌山市でも同様の試乗会を開く。

　ｉＱは軽より大きい1000cc級のガソリンエンジンのほか、欧州向けでは1400ccのディーゼルエンジン搭載車も用意する予定。ガソリン車の燃費効率は国土交通省などが定めた新方式で1リットル20キロメートルを超えるもようだ。一部タイプでは走行1キロ当たりの二酸化炭素（ＣＯ2）排出量は99グラム程度。環境性能と小回りがきく点を売り物に、都市部の需要を掘り起こす。世界初という後方衝突用エアバッグも採用する。

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百貨店、上得意客囲い込み　三越、外商に特別カタログ

　百貨店各社が繁忙期の秋冬商戦に向け、購買額の多い上得意客のつなぎ留め策に知恵を絞っている。東武百貨店は店舗で食事や演奏会付きの招待販売会を開催。三越や高島屋は外商顧客向けに特別カタログを作成したり、特別販売会の期間を延長する。百貨店は売上高の前年割れが続いており、業績への寄与度が高い顧客の囲い込みを強める。

　東武百貨店は8月末、池袋本店（東京・豊島）の紳士服売り場を、午後8時の営業終了後に購入額上位客だけに開放。ジャズを聴き飲食も楽しみながら買い物ができる販売会を催した。招待客189人の9割近くが購入、計画を3割上回る約2000万円を売り上げた。小田急百貨店も2008年度は、外商顧客に限定した宝飾品などの販売会を前年の倍近い回数実施する。

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資源運搬船、運賃急落　5月最高値の半分

　高騰していた鉄鉱石や石炭、穀物などを運ぶ外航ばら積み船の運賃が急反落している。国際指標のバルチック海運指数（1985年平均＝1000）は5日現在、前日比211ポイント安の5663となり、7カ月ぶりの低水準を記録。5月20日の史上最高値（1万1793）に比べ52％急落した。

　外航不定期船市場で鉄鉱石船や穀物船の運賃は北京五輪が始まった8月上旬から下落が加速した。五輪開催の前後に鉄鋼など中国の素材メーカーによる資源や原料調達が止まり、輸送量が急速に鈍ったのが背景だ。新興国の資源需要拡大で高騰を続けたばら積み船の運賃は転換点を迎えたとの見方も出始めた。

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素材生産頭打ち、値上げで内需低迷　昭和電工・出光など

　素材の国内生産の頭打ち傾向が鮮明になってきた。昭和電工は来年1月に繊維原料の生産を半減、出光興産は10―12月の原油処理量を14％減らす。原燃料高を背景とする値上げで国内需要が低迷。内需を補ってきた中国向け輸出も減速し始め、紙やガラスでも減産が広がる。2002―03年ごろから続いてきた素材の生産拡大局面が終わることは、設備投資意欲を冷やし、景気の下押し要因になりそうだ。

　昭和電工は大分コンビナート（大分市）で、衣料用繊維や樹脂の原料となる酢酸の生産量を年13万トンから7万トン程度に減らす見込み。中国などアジア向け輸出の減少と原料高で採算が悪化しているため、繊維向けの生産から撤退し、樹脂向けなどに特化する。

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米デルも５万円パソコン　勢力図塗り替えも

　パソコン販売で世界シェア2位の米デルは5日、最低価格が約5万円の超小型ノートパソコンを日本で発売したと発表した。いわゆる「5万円パソコン」には世界首位の米ヒューレット・パッカード（ＨＰ）、同3位の台湾エイサーもすでに参入。外出時などに使う2台目需要を確実に取り込み、国内のノートパソコン市場の2割を占めるまでに成長している。シェア争奪の主戦場となっており、国内メーカーも対応を迫られそうだ。

　デルが発売したのは「インスパイロン・ミニ９」。価格は基本ソフト（ＯＳ）にリナックスを採用した最小構成品で4万9980円から。メモリーなどの仕様は顧客が選べる。重さは約1キログラム。米インテルの省電力ＣＰＵ「アトム」を採用しており、フル充電のバッテリーで屋外で約3時間40分使える。

　5日から同社の直販サイトで受注を開始した。今月中旬にはビックカメラなど家電量販店の店頭にも並ぶ見込みだ。国内に幅広い販売網を持つデルが参入することで、5万円パソコンの認知度が高まりそうだ。

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東電など出資の風力大手、洋上で大規模発電　英で2300億円投資

　東京電力と豊田通商が出資する風力発電大手、ユーラスエナジーホールディングスは英国に洋上の大型風力発電所を建設する。総事業費は約12億ポンド（約 2300億円）で、出力は50万キロワット。このほど英国政府から事業許可を得た。国内企業が本格的な洋上風力発電事業に取り組むのは初めて。欧州では各国政府の補助政策が後押しする形で再生可能エネルギーの需要が高まっており、収益が期待できると判断した。

　ユーラスが英国、デンマークの大手電力会社と3社で設立した事業会社が建設、管理を担当する。建設地は英国中西部の沿岸から14―23キロメートルの沖合。37万世帯が使用する電力をまかなうことができる。総事業費のほとんどをプロジェクトファイナンスで調達する計画だ。稼働は2012年以降の見通し。

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ニプロ、中印の営業要員2.7倍　新興国の開拓本格化

　ニプロは人工腎臓透析器（ダイアライザー）などの医療機器事業で新興国市場の開拓を本格化する。中国とインドの営業要員を現在の2.7倍となる計200 人とし、大都市中心だった営業体制を地方都市にまで広げる。他の新興国での販売も強化し、2011年度に海外売上高を現在の1.5倍の1000億円に引き上げる。医療水準の向上などで新興国の需要が拡大していることに対応する。

　増員するのは主に営業とメンテナンスのための要員で、現地で採用する。現在中国では北京や上海などに計45人、インドではニューデリーやムンバイなどに計30人を配置している。3年以内にそれぞれを100人規模に増やす。これにより大都市中心だった営業地域を大幅に広げる。

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双日がマグロ養殖に参入、大手商社で初めて

　双日がマグロ養殖事業に参入する。月内にも長崎県松浦市に全額出資子会社を設立、2010年から出荷を始める。当面は年間約360トンの出荷を見込む。大手商社のマグロ養殖への直接投資は初めて。世界的にマグロ需要が増える一方で漁獲規制も進んでいるため、自社養殖での安定調達を狙う。

　「双日ツナファーム鷹島」を設立し、新松浦漁業協同組合の組合員資格を取得する。資本金は3億円。松浦市鷹島の沖合500メートルに直径30メートルの大型いけすを6基設置。初年度と2年目は5000匹、3年目から1万匹の稚魚ヨコワを投入する。約2年かけて30―40キロまで成長させて、市場などに出荷する。

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北電、原発重要度増す　泊３号機、９割完成

　北海道電力が建設中の泊原子力発電所（後志管内泊村）３号機の建設工事が最終段階に入った。進ちょく率は今夏に9割を達成。発電コストの安い原発増設への期待は大きく、計画通り来年12月の営業運転開始を目指す。ただ稼働後も発電電力量の半分近くを火力に頼る構図は変わらない。原油高で収益基盤が揺らぐ中、３号機が経営改善にどこまで寄与するか不透明さもある。

　３号機は2003年に着工。緑化、塗装など一部を除き、土木・建築工事はほぼ完成し、電気・機械の据え付け工事も9割を終えた。9月中にも機器の機能試験を始め、年内に核燃料を搬入する予定。汐川哲夫常務（泊原子力事務所長）は「昨年は（建設現場で）不審火の問題もあったが、今年は順調。来年2月には試験運転を始めたい」と自信を見せる。

　電気出力は91万2000キロワットと１、２号機の1.5倍。運転をコントロールする中央制御室はポンプや弁など個々の機能に対応したレバーやボタンを押して操作する１、２号機と異なり、コンピューターの画面で操作するデジタル型の制御システム。

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韓国ポスコ、川崎・東扇島の工場完成　車用鋼板加工

　韓国ポスコが川崎港の人工島、東扇島に建設中だった自動車用鋼板の加工・物流拠点「川崎コイルセンター」が完成した。同社の鋼板加工センターとしては国内で4番目となる。週明けにも本格稼働する予定だ。

　ポスコの日本法人、ポスコジャパンや日産トレーディングなどが出資する「ＰＯＳＣＯ―ＪＹＰＣ」（川崎市）が運営主体となる。同センターの倉庫・加工場部分は鉄骨平屋建てで、高さは約16メートル。事務棟を含めた延べ床面積は約1万3200平方メートル。総投資額は約30億円。

　加工場には鋼板を切断するスリッターを2台設置し、年間約10万トンを加工できるという。主に関東地域を対象にした物流基地としても機能する。

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田崎真珠、固定資産42億円売却　神戸の寮など５カ所

　田崎真珠は5日、経営再建のため、社員寮や社宅など42億9900万円の固定資産を売却すると発表した。売却先や日程は未定。売却の窓口は日本不動産ソリューション。現段階では業績修正はしない。

　神戸市東灘区にある約1600平方メートルの土地と寮や社宅などの建物（帳簿価格19億3900万円）、兵庫県三木市の約12万2200平方メートルの土地と研修所（同14億500万円）など5カ所を売却する。

　同社は経営再建のため10月下旬に独立系投資ファンドのＭＢＫパートナーズの傘下に入る。

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首相が夫人と「銀ブラ」　退陣表明後の週末、記者団には沈黙

　福田康夫首相は6日、退陣表明後、初めての週末を貴代子夫人と東京・銀座や都内のホテルで過ごした。グレーのスーツにネクタイ姿で眼鏡店に入り、レンズを交換した後、短時間、画廊に立ち寄って公邸に戻った。

　首相は1日の退陣表明以降、記者団に沈黙を続けている。この日も「眼鏡を新調したのか」と問われ「いや、レンズ」と答えただけ。昼食後も無言で車に乗り込んだ。

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首相がサラリーマン化　中曽根元首相が苦言

　中曽根康弘元首相は6日のテレビ東京番組で、福田康夫首相の退陣表明について「石にかじりついても職責を尽くすものであり、気概が薄れている。首相がサラリーマン化した。日本の民主主義が弱まっている」と苦言を呈した。

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三浦元社長の逮捕状審理、決定27日に言い渡し　ロス郡地裁支部

　【ロサンゼルス＝共同】1981年の米ロサンゼルス銃撃事件で逮捕され、サイパンで拘置中の元会社社長三浦和義容疑者（61）＝日本では無罪確定＝による逮捕状取り消し請求の第4回審理が5日午後（日本時間6日午前）、ロサンゼルス郡地裁支部で開かれ、バンシックレン判事は26日午後（同27日午前）に決定を言い渡すと述べた。審理は事実上結審した。

　今年2月にサイパンで逮捕されて以降続いてきた三浦元社長の身柄に関する司法手続きは、逮捕状の有効性をめぐる26日の判断次第で、米本土への移送か釈放かに向けて動きだす可能性がある。

　判事は審理終了に当たり「判断にはさらに分析が必要だ。（三浦元社長側の請求を）認めるか、否定するかの単純な判断はしない」と述べた。

　5日の審理では検察側と弁護側が、判決が確定した事件で再び罪に問われない「一事不再理」と、容疑者・被告に不利益となる処罰をさかのぼって行わない「遡及処罰の禁止」の2つの争点について、判事の質問に答える形であらためて応酬した。(13:09)

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２力士、また大麻陽性　協会の立場厳しく

　検査結果は再び「クロ」だった。簡易検査で大麻に陽性の反応を示していた2力士は6日、民間機関の精密検査でも陽性と判明。日本相撲協会は苦しい立場に追い込まれた。北の湖理事長は「本人はずっと否定している」と検査をやり直す意向を示したが、信頼性の高い国際公認の検査機関が突きつけた事実は重く、協会を取り巻く状況は一段と厳しくなった。

　露鵬（28）が所属する東京都江東区の大嶽部屋では正午過ぎ、師匠の大嶽親方が部屋前で記者会見。時折むっとした表情をみせながら「我々に結果を詳しく説明する前から、容疑者扱いするのはおかしい」と不満をあらわに。

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大相撲大麻疑惑：２力士とも陽性　協会は８日に臨時理事会

　大相撲の露鵬（２８）＝大嶽部屋＝と白露山（２６）＝北の湖部屋＝の兄弟力士の大麻使用疑惑で６日、東京都内の検査機関で２人の尿サンプルを精密分析した結果、当初の簡易検査と同じく大麻への陽性反応が出たことが明らかになった。

　検査は同じ尿を二つに分けたうちの一つ（Ａ検体）からの反応で、露鵬はさらにもう一つの検体（Ｂ検体）の検査を求めた。日本相撲協会は白露山にも、Ｂ検体の精密分析の希望を確認したが、回答はなかったという。露鵬のＢ検体の分析結果は８日までに判明する。

　協会は８日に再発防止検討委員会を開いて結果を報告。その後、臨時理事会を招集して、２人の処分を含めた対応を話し合う方針だ。

　日本アンチ・ドーピング機構（ＪＡＤＡ）専門委員で、日本相撲協会の再発防止検討委員会の大西祥平委員は「結果はＡ、Ｂ検体の分析結果がそろうまで発表できないが、Ａで陰性であれば、Ｂの再検査を要請する人はいない」と、２人ともＡ検体で陽性が出たことを示唆。さらに「師匠（北の湖理事長）と白露山については何の連絡もない」と、再検査の意思を求めたにもかかわらず、回答がないことを明らかにした。

　また、検査過程に不正があったかどうかについても「検討委の親方がトイレの中でしっかり確認し、保管した容器にも細工の跡はなかった」と、強く否定。「あとは日本で一つしかない国際機構（世界反ドーピング機関＝ＷＡＤＡ）公認の機関がすること」と検査機関の信頼性の高さを強調した。

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露鵬＆白露山、専門機関検査でも●…大相撲大麻疑惑

北の湖「また違う所で検査してもらいたい」

　日本相撲協会による抜き打ちの簡易尿検査で大麻に陽性反応を示したロシア出身の幕内露鵬（２８）と十両白露山（２６）は、民間の検査機関による精密検査でも大麻に陽性反応を示したことが６日、分かった。協会関係者が明かした。北の湖理事長（元横綱）は同日、「また違う所で検査してもらいたい」と強弁したが、辞任圧力がさらに強まるのは必至で、理事長の進退問題は最終局面を迎えた。

　同協会は４日に両力士の検体を提出。関係者によれば、検査機関の三菱化学メディエンスから５日夜に相撲協会に通知された。簡易尿検査で大麻に陽性反応を示したことについて、露鵬、白露山は一貫して使用を否定していた。

　ただ、白露山の師匠でもある北の湖理事長は５日、両力士が服用していた鎮痛剤などの成分分析も含め「何度でも調べればいい」と話し、陽性と出た場合でも、別の機関に検査を依頼する考えを示していた。６日も「本人たちは使用をずっと否定しているのだから、この段階で何かを言えるものではない。いろんな鎮静剤などの成分が入っているかもしれないので、Ｂ検体をまた違うところで検査してもらいたい」と話した。

　しかし、日本で唯一のドーピング検査機関で出た結果を疑うかのように別の検査を重ねれば、相撲協会が導入を検討しているドーピング検査も形骸化することになる。

　再発防止検討委員会の中には、「私たちのやっていることは何だったんだ、ということになる」と理事長発言をいぶかる声もあった。若手や中堅の親方の間でも、トップの対応に不信感が強まっており、理事長の首も風前のともしびだ。

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両力士再聴取を検討…任意捜査続ける警視庁

　大相撲の幕内露鵬（２８）と十両白露山（２６）の大麻陽性問題で６日、精密検査でも陽性だったことが明らかになり、警視庁は今後、両力士から再度事情を聴くことを検討し、任意で捜査を進めるとみられる。

　警視庁組織犯罪対策５課には、６日午前の段階では、日本相撲協会側から精密検査の結果は伝えられていないという。

　２日の簡易検査で、両力士が陽性反応を示したことを受け、警視庁は同日、任意で事情聴取。両力士は「やったことはない」と大麻使用を強く否定し、２日深夜から３日未明にかけて実施した所属部屋などの家宅捜索でも大麻所持を裏付ける押収物はなかった。

　大麻取締法に使用の罰則はなく、警視庁は関係者からの聴取など任意捜査を続けることを決定。捜査幹部は「簡易検査の精度が低いとは思っていない。精密検査の結果を注目している」と話していた。

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理事長の進退問題も？大麻問題で異例の臨時総会開催

　日本相撲協会の役員以外の親方で組織する「年寄会」（朝日山会長＝元大関大受）が、一連の大麻問題についての対応を協議するため、６日に東京・両国国技館で異例となる臨時の総会を開くことが分かった。

　関係者によると、年寄会としての意見を集約して協会幹部に伝える見込みで、白露山の師匠でもある北の湖理事長の進退を問う声も上がる可能性があるという。

　臨時の年寄総会は、２００４年９月に当時の伊勢ケ浜親方（元大関清国）が週刊誌上で、現役力士が無気力相撲を取ったり、筋肉増強剤を使用しているなどと批判したことへの対応を話し合うために開催された例がある。

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構わない。何かいけない？北の湖理事長、暴走ＳＨＯＷ

　北の湖理事長の頭の中では、協会トップの理事長としてよりも、部屋の師匠としての判断、思いの方が上なのかもしれない。解雇された元幕内の若ノ鵬に続く露鵬（大嶽）、白露山（北の湖）兄弟の大麻疑惑で迷走する大相撲界。５日午前、両国国技館内で行われた横綱審議委員による稽古総見の後、北の湖理事長はまな弟子の白露山について改めてこう言った。

　「やっていない、と本人が言っているんだから、徹底的に調べてもらうのが一番。どんな成分が出たか。（使用している）痛み止めのクスリと比べてみるのもいいんじゃないか。警察で調べてもらってもかまわない」

　この前日には、さらに踏みこんだ、こんな暴走発言もしている。

　「精密検査の結果が出ても、それが１００％とは言えない。本人が否定している以上、もう１回と言わず、（納得するまで）ドンドン調べてもらえばいい」

　これでは、２日の抜き打ち検査はなんのためにしたのか。およそ意味をなさない。したがって注目の２人の秋場所（１４日初日、両国国技館）の出場についてもこうなる。

　「構わない。何か、いけないの。出るつもりで稽古させている」

　当事者意識が薄いと批判を浴びるのも当然。朝青龍以外には寛容な脚本家の内舘牧子委員でさえ、こう言って北の湖理事長の対応を冷ややかに切り捨てた。

　「弟子を信用し、かばってやりたい気持ちはよくわかる。でも、この問題はそういう情緒に流されるべきではない」

　精密検査の結果が出ても、それを否定している以上、どんなに時間を費やしても終わりが見えない。

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それでもボクはやってない…露鵬、厳しい表情で否定

　精密検査でも大麻の陽性反応が出た大相撲のロシア出身力士、幕内露鵬（２８）は６日正午すぎ、東京都江東区の大嶽部屋前で記者会見し「結果は信用できない。絶対にやっていない」と大麻の使用を重ねて否定した。

　大嶽親方と弁護士と共に現れた露鵬は水色の羽織はかま姿。「自分は相撲が大好きで、一生懸命やるしかない」と、厳しい表情で疑いを否定した。塩谷安男弁護士も「一連の検査や手続きが不透明だ」と検査に疑問を投げ掛けた。

　会見には数十人の報道陣が押し寄せた。

■外国人の対応怠ったツケ

　スポーツライター玉木正之さんの話　警察の厳正な捜査が求められる。朝青龍の仮病疑惑など、相撲界は外国人力士への対応を怠り、いよいよツケが回ってきた。各相撲部屋が外国人を力士採用するのはいいが、日本の伝統文化を継承させるという自覚に欠けている。相撲界は暴力事件など騒動続きで、日本相撲協会の理事会には、もはや自浄能力はない。内輪のＯＢだけで構成する理事会は問題解決能力に限界があることを露呈しており、外部の人間を入れ刷新を図らねばならない。

■理事長辞めるべき

　相撲ファンで知られる評論家塩田丸男さんの話　２力士が否定を続けようと、ここまで精密に検査をした結果だ。厳粛に受け止め、北の湖理事長は決然と辞め、新たな理事長の下で国技としての相撲、角界をどう再生していくのかを問う機会とすべきだ。また再検査を要請するなどと言っているのは逃げの一手じゃないか。粘り腰を発揮すべき首相が政権を放り出す一方で、辞任すべき理事長が地位に恋々とするのではあべこべだ。

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【角界大麻汚染】理事長雲隠れ、「年寄総会」紛糾…大揺れの角界 (1/3ページ)
2008.9.6 23:30
大麻問題への対応を協議する臨時「年寄総会」に臨む親方ら＝６日午後、東京・両国国技館大麻問題への対応を協議する臨時「年寄総会」に臨む親方ら＝６日午後、東京・両国国技館

　揺れ続ける角界に６日、また大きな衝撃が走った。ロシア出身の露鵬、白露山兄弟の精密検査の結果は再び「陽性」。急遽（きゆうきよ）開かれた「年寄総会」は紛糾し、北の湖理事長の辞任要求が飛び出すなど異例ずくめの展開となった。「ほぼ１００％の精度」とされる精密検査。角界の重大局面にもかかわらず、白露山と師匠の北の湖理事長は姿を見せず、識者からは「無責任な対応に憤りを感じる」との声も聞かれた。

　　■年寄会

　「うるさい、やめろ」－。発言者に対して、怒号が飛ぶ。６日午後２時、東京・両国国技館地下の大広間で７９人の親方が出席して開かれた臨時の年寄総会。１時間半に及んだ異例の会合は非公開で実施された。

　出席者によると、大嶽親方が弟子の露鵬の潔白を主張する文書を読み上げたところ、ある親方から冒頭のやじが飛び、両親方は激しいにらみ合いになった。

　北の湖理事長への辞任要求も出た。ある親方は「理事長を尊敬しているが、ここは一度身を引いた方がいい」と意見を述べ、賛同者もいたという。ただ、退陣を求めるのは時期尚早との声も同程度あった。

　最終的に理事会開催を要求することでまとまり、年寄会会長の朝日山親方（元大関大受）が総会終了後、協会執行部に伝えた。報道陣から「これは北の湖体制に対するクーデターか」と問われた朝日山親方は「そういうことじゃない」と声を荒らげた。

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北の湖理事長の進退問う声も…８日の理事会で対応を検討
臨時年寄総会に出席した親方たち（両国国技館で）

　大相撲の幕内力士の露鵬（２８）（大嶽部屋）と十両の白露山（２６）（北の湖部屋）のロシア人兄弟が、専門の検査機関による尿検体の分析結果でも大麻吸引の反応が出た問題で、日本相撲協会は８日、両国国技館で再発防止検討委員会と理事会、評議員会を開き、力士らの処分を含めた対応を検討する。

　白露山の師匠でもある北の湖理事長の進退を問う理事もおり、協会、理事長ともに厳しい対応を迫られる。

　検査は世界反ドーピング機関（ＷＡＤＡ）に公認された国内唯一の検査機関「三菱化学メディエンス」（本社・東京）が実施。五輪などでドーピング検査を行う世界最高水準の機関で、薬物違反によるメダルはく奪などは、こうした機関の検査に基づいて行われる。

　相撲協会アンチドーピング委員会の大西祥平委員（慶大スポーツ医学研究センター教授）は、今回の検査について、「最終結果ではなく、内容は言えない」としたが、協会関係者の話では、当初、指摘された「第三者の吸った大麻の煙による副流煙の可能性」が、検出濃度によって否定されたといい、自ら吸ったことが確定的となった。さらに、両力士は６日現在、Ｂサンプル検査を受ける意思表示もしていない。

　また、相撲協会の役員を除く年寄会（会長・朝日山親方＝元大関大受）は６日午後、国技館で臨時年寄総会を開催、「検査機関の最終結果が出る前に理事会が主導し、明確な対応策を出すべきだ」とする意見をまとめ、相撲協会に理事会招集などを求めた。一方、協会の一部理事は「月曜日の理事会で理事長が進退について話をすべきだ。なければ理事の方から問うことになる」と、辞職を求める意向を示した。

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北の湖理事長退任求め親方衆がクーデター

横綱審議委員会けいこ総見で険しい表情を見せる北の湖理事長
横綱審議委員会けいこ総見で険しい表情を見せる北の湖理事長

　北の湖理事長（５５＝元横綱）の退任を求め、「クーデター」の動きが出てきた。６日、日本相撲協会の役員を除く親方衆で組織する年寄会（朝日山会長＝５８、元大関大受）の臨時総会が、東京・両国国技館で行われることになった。大麻疑惑の渦中にある平幕露鵬（２８＝大嶽）と十両白露山（２６＝北の湖）をかばい、８日にも判明する精密検査の結果を受け入れようとしない同理事長に反発する声が、協会内でも噴出。同会が理事長退陣要求を決議し、それを受けて理事会が招集されれば、北の湖理事長の退陣は避けられない状況になった。

　一連の大麻騒動に追われる角界に、大きなうねりが起き始めた。年寄会会長の朝日山親方はこの日、「もう、隠しても仕方のないことだ。明日（６日）、両国国技館で（臨時年寄会）やるよ」と明言した。開催理由については「こういう状況だから若い親方たちの声を聞くということ。議題がどうのこうのは言えない」と説明した。

　８月に元平幕若ノ鵬容疑者が大麻所持で逮捕、解雇された。それを受け、２日の力士会で抜き打ち簡易尿検査を行い、露鵬と白露山のロシア人兄弟力士から大麻の陽性反応が出た。協会は２人の尿検体を、世界反ドーピング機関から唯一公認を受ける三菱化学メディエンス（東京都港区）に検査を依頼。早ければ８日にも精密検査の結果が出る。

　しかし、白露山の師匠でもある北の湖理事長は「２人が否定している以上、（結果が黒でも）１００％とは言えない」と発言。２人が服用していた鎮痛剤に反応した可能性などをあげ、さらに追加検査を求め、処分や自身の進退についても「事件化されていない段階ですぐには決めない」と反論し始めた。

　協会トップが、自分たちが始めた「抜き打ち検査」を事実上骨抜きにし、権威ある機関の精密検査も信用せず、自分の弟子たちをかばい続ける。この姿勢には、ある有力親方も怒りの声を上げた。「理事長は協会全体を見なければいけないのに、自分の弟子や露鵬をかばい続けるのはおかしい。鎮痛剤を使用している力士は数多いのに、２人だけに反応した事実は大きい。テレビで普段通りにサウナへ通う姿が映されているが、こういう非常時に緊張感が足りないと思う」と厳しく指摘した。

　また、別の中堅親方は「協会としてドーピング検査を年内に実施しようとして動いているのに、それと同種の検査を否定すること自体が考えられない」。さらに別の親方も「理事長は決断が遅すぎる。これまでの不祥事の際もそうだったし、今回も遅らせようとしている。もう、このまま見過ごすわけにはいかない。ついに（クーデターが）始まったという感じだ」と、北の湖理事長の能力を疑う声が一気に噴出し始めた。

　臨時年寄会がどう動くかは、始まってみなければ分からない。しかし、師弟の関係同様に「上には逆らわない」体質の角界で、下からの突き上げが起きようとしていること自体が極めて異例だ。ある５０代の親方は「もちろん理事長退陣要求を決議する可能性はある」と断言した。この決議を受けて、理事長に反発する理事が動いて臨時理事会が招集されることも考えられる。理事会では、現在９人の理事のうち３分の２以上の出席で議事を決議できる。解任動議が出され、出席理事の過半数が賛成すれば、クーデターは完了する。身内にも反発され始めた北の湖理事長は、まさに土俵際に追い込まれた。

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露鵬、白露山クロ　それでも強制捜査に高い壁
2008.9.6 23:32

　露鵬と白露山から大麻陽性反応が出たことに、警視庁は「クロ判定は織り込み済み」と受け止めている。

　しかし、大麻取締法は大麻の「所持」は禁止しているものの、「使用」を禁じる条文はない。

　警視庁は今回の結果を受け、改めて両力士から任意で事情を聴く方針だが、両力士の関係先から大麻所持の証拠となる大麻や吸引具が見つかっていないことから、両力士の強制捜査は難しい状況だ。

　警視庁組織犯罪対策５課によると、日本相撲協会からは鑑定結果について正式な報告はないという。同課は簡易鑑定で大麻陽性反応が出た２日夜、両力士から任意で事情聴取。露鵬が所属する大嶽部屋と白露山が所属する北の湖部屋、自宅マンションを家宅捜索したが、両力士は大麻使用を否定し、大麻を所持していたと疑われる証拠物も出てこなかった。

　同じ禁止薬物の覚醒（かくせい）剤の場合、尿検査で覚醒剤成分が検出されれば、覚せい剤取締法違反（使用）容疑に問える。だが大麻の場合、尿から成分が検出されても、それだけでは罪に問えない。「尿検査による成分検出は、本人が大麻所持を否認した場合の補強材料にすぎない」（薬物犯罪に詳しい弁護士）のが現実だ。

　ある捜査幹部は「大麻成分を特定でき、どのくらいの量かもわかる専門機関による検査なので、結果は証拠となり得る。しかし、モノ（大麻）の押収がないままでは逮捕する事案にならない」と話す。

　捜査幹部は「当初から精密検査でクロが出るつもりで調べていた」と今回の結果に驚きはみせない。同課は再度、両力士から任意で聴取するとともに、近しい関係者から話を聞き、調べを進める。

　これまで大麻所持はおろか使用も認めていない両力士だが、仮に今後、使用や所持を認める供述が出てきた場合はどうなるのか。

　同課は「本人の供述だけでは、所持していた場所や量の裏付けを取るのは難しい」と厳しい表情。

　角界の大麻汚染は、両力士と同じ北オセチア出身で親しい元若ノ鵬、ガグロエフ・ソスラン容疑者（２０）が、大麻取締法違反（所持）の疑いで逮捕されたことが発端となった。仮に同容疑者と一緒に大麻を吸ったとすれば、同法の共同所持違反容疑に問われる可能性もあるが、同容疑者は「１人で吸った」とかかわりを否定している。

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事故米転売：三笠フーズ社長「私が指示」　二重帳簿認める

　米卸売加工会社「三笠フーズ」（大阪市北区）が殺虫剤やカビに汚染された米を食用として転売していた問題で、同社の冬木三男社長（７３）が６日午前、同区内で、問題発覚後初めて会見した。冬木社長は「私から指示した。利益が出るということで私が決裁した」と述べ、転売を指示していたことを認めた。また同社が、不正を隠すため二重帳簿を作っていたことも明らかにした。

　冬木社長は会見の冒頭、「このたびは皆様に多大なるご迷惑と心配をおかけしました」と話し、深々と頭を下げた。そのうえで「現在、農水省の指導で製品の回収をしています」と語った。

　動機については「経営が苦しくてやってしまった」と弁明。「１０年くらい前に買収した会社が（不正を）やっていた。５、６年前に（現場から）提案があり、私が『やれ』と言った」と不正のきっかけを説明した。

　流通経路に関しては「焼酎メーカー数社や製粉関係に売った」「菓子と焼酎、ブタの餌以外にはない」としたが、「調査を受けている段階なので」と具体的な転売先は明らかにしなかった。

　今回の米は、有機リン系殺虫剤のメタミドホスや発がん性カビ毒アフラトキシンＢ１に汚染されていたとされる。冬木社長は「（危険性の認識は）基本的には持っていた。深く反省している」と陳謝した。

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事故米転売：業界「最悪の事態」、消費者団体は行政批判

　コメを使う加工食品の業界団体に驚きと困惑が広がった。また、消費者団体からは食品業界や行政への不信をあらわにする声が上がった。

　「食の安全が叫ばれている時に論外の出来事。何てことをしてくれたのか」。日本酒造組合中央会（東京都港区）の小野博通理事は怒った。同会は、清酒や焼酎の蔵元など約２０００業者で構成され、今回転売先となった焼酎メーカーも属している可能性がある。

　せんべいやおかきなどのメーカー約５００社で組織する全国米菓工業組合（同区）は、幹部が急きょ農林水産省に出向いて情報収集。今井教夫顧問は「米菓に使われているのかどうか……」と不安を隠さない。

　全国各地でコメのブランド化事業を手掛ける米穀店「スズノブ」（東京都目黒区）の西島豊造社長（４５）は「最悪の事態だ。今年は食への不信感が高まる中でお米が見直され、米屋も元気が出始めていた。米業界も菓子、焼酎業界も停滞しかねない。どうやって信用を取り戻したらいいのか」と語気を強めた。

　また、日本消費者連盟（東京都新宿区）の富山洋子・代表運営委員は「業者はもちろん許せないが、さらにそれを見逃していた行政の手ぬるさにも怒りを覚える。食品偽装が続いて農水省は取り締まりを強化しているというが、形ばかりなのか」と批判した。

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事故米転売：１０年以上前から？　買収企業の手法引き継ぐ

　米卸売加工会社「三笠フーズ」（大阪市北区）が殺虫剤やカビに汚染された米を食用として転売していた問題で、同社九州工場の宮崎雄三前所長（４９）は６日、９７年に同社が買収した米穀・飼料販売会社が以前から転売を繰り返し、三笠フーズがその手法を引き継いでいたことを明らかにした。１０年以上前から事故米が食用に出回っていた疑いが浮上し、大阪府警と福岡県警は食品衛生法違反の疑いもあるとみて、情報収集を始めた。

　宮崎前所長によると、買収した会社は福岡県大刀洗（たちあらい）町の宮崎商店で、宮崎前所長の父親（７６）が創業した。父親は同商店が買収されて以降、三笠フーズ九州工場所長に就任し、同社に事故米の転売を提案したという。三笠フーズの冬木三男社長（７３）も転売に同意し、社内に指示した。

　その後、三笠フーズは主体的に転売を進め、常態化していったという。事故米と正規米を混ぜて販売していたが、１００％事故米だったこともあった。

　今回、三笠フーズが不正を隠すために二重帳簿を作成していたことも発覚した。農林水産省に提出する帳簿は事故米を工業用に出荷したように伝票を偽造する方法だった。

　一方、冬木社長も６日の会見で「（事故米の取り扱いは）１０年前ごろに別会社を買い取ってから始めた。その会社側の人間から、買い取って数年後に転用について教えられた。私から（転売を）指示していた」と同様の事実関係を認めた。その上で「経営が厳しくてついやってしまった」と利ざやを稼ぐことが目的だったと謝罪した。両府県警は、農水省からの告発を受け次第、事故米転売をめぐる不正の実態解明に乗り出すとみられる。

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橋下大阪知事：廃止方針の児童文学館の仕事ぶりを隠し撮り

　大阪府の橋下徹知事は６日、廃止方針を打ち出している府立国際児童文学館（吹田市）の普段の館内の様子を調べるため、職員に内緒で２日間にわたってカメラ撮影していたことを明らかにした。橋下知事は「なんの努力の形跡もうかがわれない」と映像を見た感想を述べた。「隠し撮り」について「民間だったら当たり前のリサーチ」と話したが、その手法は議論を呼びそうだ。

　橋下知事の指示を受けた私設秘書が８月、撮影した。橋下知事は「（新たな来館者を増やすための）取り組みは一切感じられなかった」と文学館を酷評。子供たちが漫画ばかり読んでいたとして、「実際は漫画図書館」と不満を表した。映像は府議会などでの公表を検討する。

　文学館の北田彰常務理事（５９）は「びっくりした。府民サービスを心がけて、いつ誰が来てもきちんと対応している」と困惑気味に話した。６月から個人向けに書庫などの見学ツアーを始め、５０回で延べ約５００人が参加したといい「４～６月の来館者は横ばいだったが、７月は昨年の４割増、８月は５割増になっている」と反論。さらに「子ども文化を残すという方針から、漫画も収集対象としてきた。『漫画ばかり』と言われるが、７０万点ある資料のうち１４％に過ぎない」と話した。

　府は財政再建案で、文学館を来年度中に廃止し、機能を中央図書館（東大阪市）に移転する方針を示している。

　橋下知事は「行政は予算を付けても、執行の管理ができていない。本当にやっているのかチェックするのが僕のやり方」と話し、廃止が検討されている他の施設などについても府職員らに「隠し撮り」させる方針を示した。

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中田英寿氏、１日で１億6000万円獲得

　金メダル効果でストップ高？　競泳の北島康介、サッカー元日本代表の中田英寿氏ら有名アスリートのマネジメントを手がけるＰＲ会社「サニーサイドアップ」が５日、新興市場の大阪証券取引所ヘラクレスに上場した。初値は２７６０円で公募・売り出し価格の２８００円を４０円下回ったが、その後買い注文が集まりストップ高の３１６０円で初日の取引を終えた。

　企業概要を示す同社の「目論見書（もくろみしょ）」によると、中田氏は第３位の大株主で５万２０００株（全体の６・９１％）を所有し、この日の終値換算で１億６４３２万円の資産を得た。そのほか北島、陸上の為末大が各８００株で２５２万８０００円を、元サッカー選手の前園真聖氏、ヤクルトの五十嵐亮太投手、歌手の大黒摩季らが各４００株で１２６万４０００円を得た計算になる。

　同社は８５年に設立。有名人の肖像権などを管理するマネジメント事業や、企業ＰＲに関するコンサルティング事業などを展開。０８年６月期連結決算は売上高約６７億円、純利益約１億５０００万円だった。

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増水の多摩川で水難事故相次ぐ、男性２人死亡

　６日午後１時４０分ごろ、東京都昭島市拝島町４の多摩川で釣りをしていた同市の男性（７６）が川に落ち、約２００メートル下流で救出されたが、間もなく死亡した。

　昭島署の発表によると、男性は親類と一緒に釣りをしていた。

　同２時ごろには、約２５キロ上流にある奥多摩町境の境渓谷キャンプ場で、多摩川に落としたサンダルを拾おうとした男性が流された。男性は約４・５キロ下流で救出されたが、間もなく死亡した。

　青梅署の発表では、男性は３０歳前後とみられ、川岸でバーベキューをしていた。キャンプ場関係者によると、現場付近の水深は約２メートルで、通常より約５０センチ増水していた。

　上流の小河内貯水池管理事務所では、大雨が続いた８月下旬以降はダム放水量を増やしているという。

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トルコ大統領がアルメニアを初訪問、関係正常化協議へ

　【エレバン＝宮明敬】トルコのギュル大統領は６日、同国大統領として初めて隣国のアルメニアを訪問し、サルキシャン大統領と会談した。

　２０世紀初めにオスマン帝国下で起きたアルメニア人虐殺をめぐる立場の違いから、両国間には国交がないだけでなく、１９９０年代前半のナゴルノカラバフ紛争以来、国境も閉鎖されてきた。今回の訪問は関係正常化の突破口になると同時に、米ロの新たな冷戦の舞台になりつつある南カフカス地方の政治力学を変える可能性もある。

　会談内容は明らかではないが、トルコ側随行員によると、ギュル大統領は〈１〉アルメニア人虐殺を検証する歴史家合同委員会〈２〉国境開放などを協議する関係正常化委員会――の設置を提案したほか、カフカス地方安定化のため、南カフカス３国にロシア、トルコを加えた５か国協議体の必要性を強調したという。両首脳は、同日夜行われる２０１０年Ｗ杯サッカー地区予選、アルメニア―トルコ戦も一緒に観戦する。

　両国関係の転機は、欧州連合（ＥＵ）加盟を目指して、人権問題の克服など民主的改革を進めるトルコの現政権に対し、今年４月に就任したアルメニアのサルキシャン大統領が融和的外交路線を打ち出したことで訪れた。

　ただ、アルメニア人虐殺をめぐる両国間の亀裂は深刻で、アルメニアの民族主義勢力が６日、「虐殺を認めろ」などど書いた横断幕を掲げてギュル大統領一行を“歓迎”したほか、ギュル大統領もトルコ国内の野党勢力の反発に配慮、試合終了後直ちにトルコに戻る予定だ。

　アナトリア半島東部で第１次大戦中に起きたアルメニア人虐殺については、アルメニア側は１５０万人が死亡したと主張、欧米諸国の大半もこれを歴史的事実と認めている。しかし、トルコはこれを否定する立場を貫いてきた。

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原子炉や核燃料の対印輸出解禁、ＮＳＧ承認

　【ウィーン＝石黒穣】原子力関連技術の輸出管理にあたる原子力供給国グループ（ＮＳＧ）臨時総会は６日、核拡散防止条約（ＮＰＴ）未加盟のインドを例外として扱い、原子炉や核燃料の対印輸出を解禁することを、日本など加盟４５か国の全会一致で承認した。

　ＮＳＧによる輸出解禁承認は米印原子力協力協定発効の条件となっていた。

　承認されたのは、核開発を行っている国への原子力技術提供を禁じているＮＳＧ輸出規制指針について、インドへの適用を例外的に免除する措置。

　オーストリア、ニュージーランドなど慎重派は、インドが核実験を行えば例外扱いを自動的に解消する規定を設けようとしたが、インドの意向を受けた米国が無条件の輸出解禁で譲らず、難航した。

　米国が修正案で、核実験実施の場合に加盟国による「協議」が行われるとの内容を盛り込み、慎重派と妥協した模様だ。

　インドの核保有に対する国際的な制裁措置は現在、ＮＳＧによる輸出禁止だけが残っていた。今回の例外扱いは、インドに対する制裁措置を全面解除し、インドの核保有を事実上容認するもので、イランや北朝鮮に有害なメッセージを発し、ＮＰＴ体制のほころびを広げる懸念も指摘されている。