| (AFX UK Focus) 2007-11-09 15:39 GMT: Telecom Italia confident it will reach FY net of 2.5-2.6 bln eur UPDATE
(Updates with further comments on tax inspection) MILAN (Thomson Financial) - Telecom Italia SpA CFO Enrico Parazzini said he is confident the company will close 2007 with a net profit of 2.5-2.6 bln eur. In a conference call, Parazzini said that the market consensus is for a full-year net profit of 2.5-2.6 bln and that he is "confident to deliver this kind of amount". The Thomson Financial consensus is for a net profit of 2.6 bln eur. He also said he expects the group to meet its target of reducing its net debt to below 3 times EBITDA this year. End-September, Telecom Italia had a debt of 37.443 bln eur. CEO Riccardo Ruggiero added that the management will recommend that the group's new owners maintain a commitment to distribute 80-85 pct of net profits in the form of a dividend.
Charges dropped against Arkansas' Smith
FAYETTEVILLE, Ark. (AP) -- Prosecutors have dropped forgery and theft charges against Arkansas running back Michael Lee Smith, who was accused of using a stolen credit card. A co-defendant provided a sworn affidavit that cleared Smith, Deputy Prosecutor Bill Jones said. "And I have nothing to dispute that and, therefore, am not going to file charges," he said. .
Merle Hay Mall kicks off holidays
The holiday season at Merle Hay Mall, 3800 Merle Hay Road, kicks off Saturday with Santa's arrival, a magic show and other family fun.
A Keith West Magic Show will be from 9 to 9:45 a.m. in the food court.
Free milk and donuts will be available while supplies last.
Santa will visit with children from 10 a.m. to noon. Crafts will be offered near Old Navy.
Free children's train rides will be available until noon in Lower Bridge Court.
Call 276-8551 for more information.
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The Register's standards: What we'll allow, what we won't
From the editor: Inviting robust conversation, but spelling out a few rules
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Battling for Payday Loans
When my Foolish colleague Selena Maranjian extolled the virtues of a virtual ban on payday loans for members of the military, I knew it was because she wants consumers to run their financial lives Foolishly. After all, living from paycheck to paycheck and having to make regular use of short-term loans is not a particularly wise use of one's financial resources. .
NYers Seek Fixes in Mortgage Mess
Sen. Charles Schumer and the Rev. Al Sharpton had different answers Thursday for how to make it easier for homeowners at risk from the mortgage crunch. Sharpton called for the Bush administration and the U.S. Senate to back off plans to restrict nonprofit downpayment assistance programs, which he said are crucial for many minority and working-class families trying to purchase a first home. .
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