Prince William helps rescue pair after ship sinks

LONDON?? Prince William joined a frantic rescue mission Sunday after a cargo ship sank in the Irish Sea, leaving several crew members missing.

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The second in line to the British throne, who is a Royal Air Force helicopter pilot and known professionally as Flight Lt. William Wales, was aboard an aircraft which rescued two crew members early on Sunday, after their vessel suffered a cracked hull in gale-force winds off the coast of north Wales.

Britain's ministry of defense said William had been co-pilot of the helicopter, which carried two people back to his base RAF Valley, on the Welsh island of Anglesey.

Authorities said five people remained missing after the 265-foot Swanland cargo ship, which had eight people on board, sent a mayday call at around 2 a.m. local time (9 p.m. ET).

'Challenging' conditions
Holyhead Coastguard said one body had been recovered from the sea, but that the fate of the other crew members was not yet known.

"We know that at least some of them are wearing immersion suits and have strobe lighting with them, however sea conditions are challenging at best," said Jim Green, a coastguard spokesman.

The Swanland was reportedly carrying 3,000 tons of limestone. Its crew members were believed to be Russian.

Video: Faraway duty calls for Prince William (on this page)

Rescue helicopters from RAF Valley and from Dublin coastguard base in Ireland were initially sent to the scene, about 20 miles? northwest of the Llyn peninsula in north Wales.

Helicopters from RAF Chivenor, in southwest England, and the Irish Coastguard are continuing to search for the missing crew, along with boats from the Royal National Lifeboat Institution.

"Two RNLI lifeboats, along with four search and rescue helicopters and two other commercial boats, are searching for the remaining six crew," the RNLI said in a statement.

Gale force winds battered the Irish Sea on Sunday and the coastguard said it is believed the poor condition could have caused the incident.

The Associated Press and msnbc.com staff contributed to this report.

Source: http://www.msnbc.msn.com/id/45451709/ns/world_news-europe/

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European investors? exposure to Chinese private equity - An insider?s perspective

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Source: www.cms-hs.com --- Sunday, November 27, 2011
Foreword While the EU 27 members are among the largest foreign investors in China, their investments consist mainly?of capital in non-financial businesses. As China is the fastest growing economy and export market, Europe?s enterprises have dramatically increased their presence in? the country. At the same time, European financial investors were still cautious.?With this study we wanted to provide deeper insights into what European investors are taking into consideration when deciding to carry out Chinese venture capital and private equity investments. Thus, this paper should?serve as a building block to a better understanding of?the Chinese venture capital and private equity industry on the one hand, but also, on the other hand, address the requirements and expectations of European asset owners and investors wishing to participate in?the growth opportunities in China... ...

Source: http://www.cms-hs.com/European_Investors_Chinese_Private_Equity_1111_en

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