UPDATE 2-Carrefour exits Greece ahead of crucial election - Reuters
* Carrefour to sell stake in Greek joint venture
* Will take 220 mln euro non-cash charge
* Former JV partner will be a Carrefour franchisee
* Carrefour shares up 2.8 percent
By Christian Plumb and Dominique Vidalon
PARIS, June 15 (Reuters) - Carrefour, Europe's biggest retailer, is selling out of Greece in a sign companies are finding it increasingly difficult to do business in a country where demand has plunged due to a debt crisis and whose future in the euro is at risk.
The French group said on Friday it was selling its stake in a Greek joint venture to local partner Marinopoulos, which will become its franchisee.
The move comes as companies struggle to cope with a slump in demand in Europe's most indebted countries, which also include Ireland, Portugal, Spain and Italy, and ahead of elections this weekend which could decide whether Greece stays in the euro.
Also on Friday, Italy's biggest utility Enel said it was selling its Irish business. Last month Britain's Marks & Spencer took a 44.9 million pound write-off on its Greek business.
Carrefour, which saw first-quarter sales plunge 16 percent in Greece, said it was taking a 220-million-euro ($277 million) mostly non-cash charge as a result of the deal.
The world's second-biggest retailer behind Wal-Mart Stores made 2.2 billion euros of sales in Greece last year, but Espirito Santo analysts estimate the business lost around 40 million euros.
"It's not a bad move even if it costs them money," said analyst Laurence Hoffman from Oddo Securities.
The sale is one of the first decisions by Carrefour's new boss Georges Plassat, who is due to address shareholders for the first time on Monday amid hopes he will give some clues on his turnaround plan for a group that has been hit hard by its exposure to sluggish European markets.
"It's quite positive," said another analyst who declined to be named. "Greece was a market which had been dragging on them. They have their hands full with other projects. It's better for them to concentrate on saving their French operations."
Carrefour shares were up 2.8 percent in early trading in Paris, leading the benchmark CAC40, though they are still down 20 percent so far this year.
Carrefour said the sale would allow the joint venture, which also operates in Cyprus, Bulgaria, Albania and other Balkan countries, "to meet the challenges of Greece's prevailing economic environment."
Carrefour Marinopoulos, formed in 1999, will continue to operate as a franchisee of Carrefour in those countries, with the French company providing products in exchange for a fee.
The venture has 41 hypermarkets, 287 supermarkets and 479 convenience stores in Greece and Cyprus.
Marinopoulos also has partnerships with other global brands in Greece, including Marks & Spencer, Gap Inc, Starbucks Corp and LVMH's Sephora unit.
Carrefour said on Thursday it had acquired Argentina's struggling discount supermarket chain EKI to strengthen its footprint and expand its convenience store network in the country, without giving financial details.
FDA urges markets to pull shellfish from SKorea - eTaiwan News
The decision follows an FDA evaluation that determined that the Korean Shellfish Sanitation program no longer meets adequate sanitation controls. The federal agency is in discussions with South Korean authorities to resolve the issue.
The sanitation program's deficiencies caused the FDA to remove five South Korean firms that shuck and pack shellfish from the Interstate Certified Shellfish Shippers List on May 1. The warning covers all fresh, frozen canned or processed mollusks from South Korea. Some contaminated fish may have entered the U.S. before May 1. International shippers on the list are included under the terms of the shellfish sanitation agreements between the FDA and the countries of origin.
An FDA spokesman, Curtis Allen, said Thursday the decision to call for the removal of the mollusks from the market was precautionary and began with an investigation into norovirus outbreaks in November and December.
"We want to ensure that all foods coming into the United States are safe for consumption," Allen said Thursday.
Curtis said no illnesses from eating the shellfish have been reported this year. Four norovirus illnesses, including three in Washington state, were reported in 2011. Norovirus causes vomiting or diarrhea.
In a statement released Thursday the FDA said that no other shellfish shippers on the certified list were affected. Mollusks harvested in non-Korean waters are not affected either.
Concerned consumers are being advised to check the package label for country of origin or to contact the store where the shellfish was purchased or the manufacturer. The FDA recommends consumers dispose of mulluscan shellfish from Korea or any products made from them.
Aides stop former RSS chief from speaking to media - Times of India
PUNE: Former Rashtriya Swayamsevak Sangh (RSS) chief K S Sudarshan was stopped from interacting with the media by his own men at a function held at Balgandharv Rangmandir on Thursday.
Sudarshan, who was in the city to attend a felicitation programme, was seated in the audience and not among dignitaries on the stage. When some media persons requested him to speak, Sudarshan readily agreed. However, his aides sitting nearby immediately surrounded him. They said that Sudarshan does not speak to the media without prior permission. Sudarshan looked puzzled by the reaction of his own men. "Why will I not speak? I am going to speak to them," he said. However, his aides did not relent and told the media persons to go away. "You need to understand the RSS system. Don't insist and go away. I know you are going to ask him about RSS," one of his associates said. Sudarshan remained a mute spectator as the journalists left the scene.
Sudarshan's early years as the sarsanghachalak were tumultuous with the BJP in power at the Centre. The Sangh Parivar came under attack for the post-Godhra riots in Gujarat and the Jinnah controversy triggered by Advani during a trip to Pakistan. Sudarshan, who retired in 2009 citing health reasons, made headlines for making controversial statements. In 2010, the Sangh had to express regret over one such statement he made against Congress president Sonia Gandhi. The Sangh had then clarified that Sudarshan's views on the Congress president do not represent the views of the organisation.
Sudarshan has kept a low profile since then and is guarded from making any statements, said an RSS worker present at the functioN.
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