Tuesday, June 22, 2010

Business News – Newsletter for June 22, 2010

Tuesday, June 22, 2010


Lights go out at ‘Jimmy Kimmel Live’ taping, Kimmel tapes show on laptop with computer webcam

Lights go out at ‘Jimmy Kimmel Live’ taping

LOS ANGELES – Jimmy Kimmel wasn’t going to let a little power outage stop the taping of his show.
Show publicist Chelsea Hettrick says the lights went out Monday night about an hour before ABC’s “Jimmy Kimmel Live” was set to begin taping at its Hollywood studio. She says …. Source article on Gaea Times at  : Lights go out at ‘Jimmy Kimmel Live’ taping, Kimmel tapes show on laptop with computer webcam.

German business confidence posts surprise rise in June despite debt crisis

German business confidence rises unexpectedly

BERLIN – A report shows Germany’s business confidence rose unexpectedly in June as the country continues to emerge from its economic downturn.
The closely-watched Ifo business climate index released Tuesday rose to 101.8 points from 101.5 points in May.
Analysts had been expecting a slight decline.
Hans Werner Sinn, president of the Munich-based group, …. Source  : Gaea News Network.

Italians declare 97 bn euros stashed off-shore

Rome, June 22 (IANS/AKI) Italians who stashed money in off-shore bank accounts declared 97 billion euros in the last eight months since the government announced amnesty for tax evaders.

Under a tax-evasion amnesty between September 2009 and April this year, Italians have disclosed their hidden off-shore funds worth 97 billion euros, the Bank of Italy said …. Source  : Gaea News Network.

World stock markets mostly down as Europe woes overshadow China’s yuan move

World stocks down as Europe woes overshadow yuan

SINGAPORE – World stock markets mostly fell Tuesday as renewed concern about Europe’s debt crisis overshadowed the initial enthusiasm over China’s decision to let its currency rise.
Investor sentiment was undermined after Fitch downgraded its debt rating on BNP Paribas SA – the largest bank in the eurozone by …. Original source  : World stock markets mostly down as Europe woes overshadow China’s yuan move.

Auto, taxi fares hiked in Delhi

NEW DELHI – The Delhi government Tuesday announced a steep hike in auto and taxi fares. For autos, commuters will now have to pay Rs.19 for the first two kilometres and Rs.6.50 for each subsequent kilometre.

The fare for black and yellow cabs has been hiked to Rs.20 for the first kilometre and Rs.11 for …. Original article  : Auto, taxi fares hiked in Delhi.

Spanish Parliament to vote on labor market reforms; Obama rings Zapatero to express support

Spanish Parliament votes on labor reforms
MADRID – Spanish parliamentarians are to vote on labor market reforms the government says are crucial to bringing down the country’s soaring 20 percent unemployment rate.
The reforms, which ease hiring and firing regulations, are to be approved or rejected in an afternoon session Tuesday.
The package follows an austerity …. Source article  : Spanish Parliament to vote on labor market reforms; Obama rings Zapatero to express support.

L&T bags orders worth Rs.827 crore

MUMBAI – Engineering and construction major Larsen and Turbro (L&T) Tuesday said its thermal power plant business unit has bagged two orders worth Rs.827 crore from GVK Power and the Chinese firm SEPCO for their power plant projects.

The order from GVK Power valued at Rs.602 crore is for construction, including certain electrical and …. Source  : Gaea News Network.

Industrial workers protest closures in Dhaka

DHAKA – More than 30 people were injured in continuing clashes in Ashulia Industrial Area in suburban Dhaka Tuesday morning as workers protested the closure of factories by employers.

The workers are protesting against the decision of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to close all apparel units in Ashulia for an indefinite period.
In … Read : Industrial workers protest closures in Dhaka.

Orissa to renew MoU with POSCO

BHUBANESWAR – The Orissa government is likely to renew its pact with South Korean Pohang Steel company (POSCO) to set up a $12 billion project in the state, which expired Tuesday, with some modifications.

POSCO had signed a memorandum of understanding June 22, 2005 for a 12 million tonne steel plant near the port town of …. Source article  : Orissa to renew MoU with POSCO.

Air India to fly direct daily between Melbourne and Delhi

MELBOURNE – Air India will fly daily direct services between Melbourne and Delhi in a significant move that will strengthen trade and cultural ties between Australia’s Victoria state and India.

Premier John Brumby and Industry and Trade Minister Jacinta Allan Tuesday signed a deal with Air India to fly daily direct services between Melbourne and …. Read the original article  : Air India to fly direct daily between Melbourne and Delhi.

Jerry Brown’s campaign tale of frugality overlooks his $1.8 million home, with view of SF Bay

Brown’s tale of frugality omits $1.8 million home

SACRAMENTO, Calif. – When he takes to the campaign trail, Jerry Brown is fond of reminding voters that he shunned the governor’s mansion in Sacramento in favor of a rented apartment during his first tour in the executive office and lived in a downtown loft in Oakland while …. Source article  : Jerry Brown’s campaign tale of frugality overlooks his $1.8 million home, with view of SF Bay.

US-Japan security alliance strained by base decision, other pressures on its 50th anniversary

US-Japan security pact turns 50, faces new strains
TOKYO – Uncertainty over a Marine base and plans to move thousands of U.S. troops to Guam are straining a post-World War II security alliance Japan and the United States set 50 years ago, but Tokyo’s new leader said Tuesday he stands behind the pact.
Prime … Read more »».

Chinese yuan edges lower against dollar, showing flexible exchange rates move both ways

China’s more flexible yuan edges down vs. dollar

SHANGHAI – Proving that flexibility is a two-way street, the Chinese yuan edged lower against the U.S. dollar in spot trading Tuesday, a day after surging to a new high following the central bank’s decision to let the currency trade in a wider range.
By early afternoon, the yuan …. Source article on Gaea Times at  : Chinese yuan edges lower against dollar, showing flexible exchange rates move both ways.

AP sources: Obama announcing new details of how health overhaul law will be enforced

AP sources: Obama revealing health law details
WASHINGTON – President Barack Obama is revealing details of how the government will enforce the health overhaul law, an announcement expected to focus on how insurance companies must treat consumers.
Administration officials were meeting privately Tuesday at the White House with insurance company CEOs and state …. Source  : Gaea News Network.

Sensex in red after Chinese currency euphoria dampens

MUMBAI – A benchmark index for Indian equities was trading in the red Tuesday as traders booked profits after a 300-point rise the day before and the global euphoria over China’s move towards a flexible currency died down.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,868.12 points, was ruling … Read more >>.

Delhi’s new Terminal 3 will have 78 aerobridges, 35 escalators

NEW DELHI – The humongous new Terminal 3 of the Indira Gandhi International Airport that opens July 3 will have all the amenities for passenger travel comfort, including the highest number of aerobridges in the world at a single site – 78. It is almost eight times more than what the present international terminal has. … Read more >>>.

Asian stock markets mostly down as Europe woes overshadow China’s yuan move

Asia stocks down as Europe woes overshadow yuan

SINGAPORE – Asian stock markets mostly fell Tuesday as renewed concern about Europe’s debt crisis overshadowed the initial enthusiasm over China’s decision to let its currency rise.
Investor sentiment was undermined after Fitch downgraded its debt rating on BNP Paribas SA – the largest bank in the eurozone by …. Source article  : Asian stock markets mostly down as Europe woes overshadow China’s yuan move.

Minnesota nurses authorize open-ended strike on 14 Minneapolis-area hospitals

Minn. nurses approve second strike at 14 hospitals

MINNEAPOLIS – Minnesota nurses who walked out for one day earlier this month voted overwhelmingly Monday to authorize an open-ended strike on 14 hospitals in the Minneapolis-St. Paul area.
The Minnesota Nurses Association said 84 percent of nurses voted yes to authorize the longer strike. The union needed at …. Source  : Gaea News Network.

Two Indians among Forbes billionaire heiresses to watch

WASHINGTON – Two Indian women – Roshni Nadar and Nisha Godrej – have been listed among Forbes magazine’s list of “a breed of heiresses who choose to live a lower-key life … and working to make a difference behind the scenes.”

In its latest annual list of notable heiresses, the US business magazine said it …. Read the original article  : Two Indians among Forbes billionaire heiresses to watch.

Disgruntled worker drives over people at Mazda plant in Japan, killing 1 and injuring 10

Worker runs over people at Japanese plant, 1 dead

TOKYO – A disgruntled worker slammed his car into employees at a Mazda factory Tuesday, killing one and injuring 10, stunning Japan just two years after an autoworker went on a deadly rampage in central Tokyo.
Toshiaki Hikiji, 42, was arrested about an hour later on attempted murder … Original article on : Disgruntled worker drives over people at Mazda plant in Japan, killing 1 and injuring 10.

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