zoom Denmark’s A.P. Møller – Mærsk A/S has entered the second phase of its share buy-back program, which will be limited to a maximum of 75,000 A shares and 300,000 B shares valued at DKK 3.32 billion (USD 550 million).Maersk has initiated the DKK 5.6bn (USD 934m) share buy-back program back in August, said to be executed during a 12 months period.During the first phase of the program, Maersk had bought 33,608 A shares and 134,533 B shares for around USD 400 million.The second phase of the program will run from November 24, 2014 to February 28, 2015.Maersk has appointed Danske Bank as lead manager for the second phase of the share buy-back.After the completion of the first phase, Maersk holds 33,608 A shares and 237,315 B shares, equal to 0.2% and 1.1% of the share capital, respectively.Press Release
The United Nations Security Council today extended sanctions aimed at preventing Liberia from exporting rough diamonds, saying the situation in the West African country continues to pose a threat to international peace, but lifted the ban on the export of round logs and timber as it applauded the country’s new President for her efforts in managing the nation’s forests.Voting unanimously, the Council renewed for six months the sanctions that call on Member States to prevent the direct or indirect import of all rough diamonds from Liberia, regardless of whether such diamonds originated there, in order to allow the Government to set up an “effective Certificate of Origin” regime for such trade.Turning to the country’s forestry resources, the Council applauded the Government’s “commitment to transparent management” of the sector “for the benefit of Liberians” and also President Ellen Johnson Sirleaf’s recent announcement of a moratorium on timber exports and new concessions, pending the passage of appropriate forestry legislation.“The Security Council…decides not to renew the measure…that obligates Member States to prevent the import into their territories of all round log and timber products originating in Liberia,” the resolution states, adding that the 15 members also urge the “speedy adoption” of such forestry legislation. It will review this decision after 90 days.The Council also requested that Secretary-General Kofi Annan renew for an additional six months the mandate of the Panel of Experts that was appointed in July 2005 to assess the implementation and impact of the sanctions regime in Liberia.The Council first imposed wide-ranging sanctions on Liberia in May 2001 after receiving reports that the West African country’s natural resources were fuelling conflict in the region.
“It was boredom therapy,” he added. “I just thought it could make someone laugh if I transcribed it and posted it up, it was just silly really.”I think the fact that the song just repeats itself is enough make people go insane.”Contrary to the view that hold music provides consumers only with a particular kind of hell, research has found it in fact serves an effective purpose.One survey found that 73 per cent of callers to consumer lines preferred hold music to beeps or silence. Another concluded that those hearing hold music will wait an additional 30 seconds before finally giving up on a call. Following his self-imposed assignment, Mr Drever-Smith had only disparaging judgement to pass on HMRC’s taste in music. “It’s quite mundane but it’s jazzy – which is kind of hilarious because it’s so out of place, it’s like they just slammed two completely different songs together,” he said of the piece. Mr Drever-Smith, 26, from Hull, is a classically trained drummer It’s a frustration of modern life. Every time you try and call a major government agency or corporation, it can feel like hours before you finally get through to a human. So when musician Alan Drever-Smith, 26, found himself on hold during a 40-minute call to HMRC, he decided to put his skills to good use and began to transcribe the service’s entire hold jingle.The classically-trained drummer from Hull received over 800 shares after posting the sheet music on Facebook – and admitted there was no love lost for the minute-long ditty once he finally finished the call. “As a musician, I was giggling because it was such rubbish – the tune is jarring and it’s just horrible to listen to, it’s almost comical.”Five minutes had passed, and I had my laptop in front of me, so I just had a spark of mischief after hearing that same tune repeated 20 times.” Mr Drever-Smith’s Facebook post of the transcribed music – complete with the musical instruction to any prospective players to repeat: ‘D.C. Ad Nauseum’ – has received a deluge of comments since he shared it. Despite gaining him this attention, Mr Drever-Smith says HMRC’s is far from the worst piece of hold music he says he has ever been subjected to. “I’ve heard Vivaldi’s ‘Spring’ used quite often and that’s a lovely tune, but it’s horrific when it’s converted for hold music where it’s destroyed completely.”I’d definitely volunteer myself to make a new version, but I think any music is horrific if repeated indefinitely. Mr Drever-Smith described the hold music for HMRC as ‘mundane but.. jazzy’Credit:Kirsty O’Connor/PA “You never get the chance to listen to a song in its entirety, it just lasts a minute then starts over. That just makes it much worse.”But it does make you wonder – as a musician you want your music to be heard and this hold music has definitely been heard by millions.”As a self-employed drummer, Mr Drever-Smith is no stranger to the drudgery of phoning HMRC – finding himself on a call to the organisation at least five or six times a year. “It just made it so much worse at the end when it says ‘thank you for your patience’ after making you sit through all of that – it just adds insult to injury,” he said. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.