Report: North Korean ex-premier returns to power after being demoted to plant manager

Report: NKorean ex-premier returns to power

SEOUL, South Korea – A news report says a former North Korean premier who was apparently sacked for proposing a wage system deemed too similar to U.S.-style capitalism has returned to power after being demoted to being manager of a chemical plant.
Yonhap news agency said Saturday that a North Korean …. Source  : Gaea News Network.

No plan to cap conventional life insurance charges: IRDA

CHENNAI – The Insurance Regulatory and Development Authority (IRDA) has said it has no plans to cap the charges levied by life insurers on traditional savings policies.

The insurance regulator also said it would approve the new Unit Linked Insurance Plan (ULIP) in time for the players to sell from Sep 1 onwards and it is …. Original article on Gaea Times at  : No plan to cap conventional life insurance charges: IRDA.

Morgan Stanley downgrades BlackBerry maker RIM

TORONTO – With its BlackBerry smart phone facing ban in India and other countries for security concerns, its new Torch 9800 device getting lukewarm response and its market share and stock falling, ratings of Research In Motion (RIM) to ’sell’ were lowerded by Morgan Stanley Friday.

From a high of about $150 in June 2008, RIM …. Source  : Gaea News Network.

Shorebank Emerges As Urban Partnership Bank

CHICAGO (GaeaTimes.com)- The failure of Chicago’s Shorebank has created sensation in the market and media. On Friday the banking entity was seized by the Federal regulators. They handed over its remaining good assets to the management team who decided to reopen it as Urban Partnership Bank. The management team that joined the bank not … Original source on Gaea Times at : Shorebank Emerges As Urban Partnership Bank.

After years of delays, Iran begins fueling first nuclear reactor with Russian help

Iran begins fueling first nuclear reactor
BUSHEHR, Iran – Iranian and Russian engineers began loading fuel Saturday into Iran’s first nuclear power plant, which Moscow has promised to safeguard to prevent material at the site from being used in any potential weapons production.

After years of delays, the fueling of the Bushehr plant in southern Iran marks … Read the original article on Gaea Times at : After years of delays, Iran begins fueling first nuclear reactor with Russian help.

Iranian and Russian engineers load fuel into Iran’s first nuclear power plant

Iran loads fuel into its first nuclear power plant

BUSHEHR, Iran – Iranian and Russian engineers have begun loading fuel into Iran’s first nuclear power plant, a major milestone as Tehran forges ahead with an atomic program despite U.N. sanctions.
The weeklong operation to load fuel into the reactor at the Bushehr power plant in southern Iran …. Source  : Iranian and Russian engineers load fuel into Iran’s first nuclear power plant.

ALL BUSINESS: Hedge funds, institutions direct money into bonds, gold and away from stocks

ALL BUSINESS: Big investors go for gold, bonds

NEW YORK – The smart money has moved away from stocks. So is the era of stock investing over?
It’s too early to tell, but one thing is certain: “Money goes where it is treated best, and that hasn’t been in stocks,” says Wade Slome, who advises high net-worth … Read : ALL BUSINESS: Hedge funds, institutions direct money into bonds, gold and away from stocks.

Big Chicago-based community bank, 7 others shut down; 118 total US bank failures in 2010

Regulators shut down big Chicago bank, 7 others

WASHINGTON – Regulators on Friday shut down a big community bank based in Chicago that has been known for its social activism but racked by financial troubles in recent months. A consortium funded by several of the biggest U.S. financial firms is buying its assets and pledging to …. Original source  : Big Chicago-based community bank, 7 others shut down; 118 total US bank failures in 2010.

Regulators shut down 4 California banks, 4 others; makes 118 US failures in 2010

Regulators shut 4 California banks, 4 others

WASHINGTON – Regulators on Friday shut down four California banks, a big community bank based in Chicago, and banks in Florida and Virginia. The closures boosted to 118 the number of U.S. bank failures this year.
The Federal Deposit Insurance Corp. on Friday took over the California banks: Butte Community …. Original article on Gaea Times at  : Regulators shut down 4 California banks, 4 others; makes 118 US failures in 2010.

SpaceX says drop test of capsule parachute system fully successful

SpaceX calls capsule drop test successful
MORRO BAY, Calif. – The California rocketry firm SpaceX says this month’s test of a parachute system to land a cargo or crew capsule safely in an ocean was fully successful.

The Hawthorne-based company said Friday that on Aug. 12 a capsule was lifted by a helicopter to an altitude of … Read the original article on Gaea Times at : SpaceX says drop test of capsule parachute system fully successful.

Regulators shut down big Chicago-based community bank, 3 others; makes 114 US failures in 2010

Regulators shut big Chicago-based bank
WASHINGTON – Regulators on Friday shut down a big community bank based in Chicago that has been known for its social activism but racked by financial troubles in recent months. A consortium funded by several of the biggest U.S. financial firms is buying its assets and pledging to operate the new … Read the original article on Gaea Times at : Regulators shut down big Chicago-based community bank, 3 others; makes 114 US failures in 2010.

Seneca Nation wants federal court to block NY tax on reservation cigarette sales

Senecas want exemption from NY cigarette tax

BUFFALO, N.Y. – The Seneca Indian Nation is seeking a federal order to stop New York state from following through with plans to tax reservation cigarette sales, tribal leaders said Friday.
Lawyers for the western New York tribe filed a request for a temporary restraining order in U.S. District Court …. Read the original article  : here.

ScanSource sales rise nearly 5 pct as company sees ‘resurgence of big deals’

ScanSource shares rally as large deals come back

SAN FRANCISCO – ScanSource Inc. shares jumped nearly 5 percent Friday after the seller of barcode scanners and retail payment terminals posted better-than-expected earnings and said it is seeing a “resurgence of big deals.”
Analysts Anthony Kure and Karl Ackerman with KeyBanc Capital Markets wrote in a note to … Read more >>>.

Cell phone group CTIA spent $2.03 million in second quarter to lobby gov’t on taxes, patents

CTIA spent $2.03M lobbying in second quarter

WASHINGTON – CTIA-The Wireless Association, which represents cell phone companies, spent $2.03 million in the second quarter to lobby the federal government on the taxation of employer-provided phones, among other issues, according to a disclosure report.
That’s in addition to money spent by CTIA’s members. AT&T Inc., for example, spent …. Original source  : Cell phone group CTIA spent $2.03 million in second quarter to lobby gov’t on taxes, patents.

Indiana’s unemployment rate rises to 10.2 percent, continuing slow increase for this year

Indiana jobless rate continues slow rise for 2010

INDIANAPOLIS – Indiana’s unemployment rate continued its slow rise during July, inching up to 10.2 percent even as the state gained about 8,700 jobs mostly in the manufacturing and construction sectors, figures released Friday show.
The 319,000 Indiana residents looking for work in July were about 17,000 more than …. Read the original article  : Indiana’s unemployment rate rises to 10.2 percent, continuing slow increase for this year.

Cal-Maine, nation’s largest egg seller, adds 800,000 dozen eggs to recall

Cal-Maine adds 800,000 dozen eggs to recall

JACKSON, Miss. – Cal-Maine Foods Inc., the nation’s largest egg seller and distributor, said it is recalling about 800,000 dozen eggs related to an expanded recall tied to a salmonella outbreak.
Cal-Maine said it was notified by an Iowa egg producer that between April 9 and Aug. 19, the producer … Read : Cal-Maine, nation’s largest egg seller, adds 800,000 dozen eggs to recall.

Regulators shut down 2 Florida banks, 1 in Virginia; makes 113 US failures this year

Regulators shut 3 banks in Fla, Va
WASHINGTON – Regulators on Friday shut down two Florida banks and one in Virginia, lifting to 113 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. took over Community National Bank at Bartow, in Bartow, Fla., with $67.9 million in assets, and Independent National Bank of … Original article on : Regulators shut down 2 Florida banks, 1 in Virginia; makes 113 US failures this year.

Second Iowa firm recalls 170 million eggs due to salmonella poisoning as investigation expands

Recall expands to more than half a billion eggs

WASHINGTON – More than a half-billion eggs have been recalled in the nationwide investigation of a salmonella outbreak that Friday expanded to include a second Iowa farm. The outbreak has already sickened more than 1,000 people and the toll of illnesses is expected to increase.
Iowa’s Hillandale Farms … Read : Second Iowa firm recalls 170 million eggs due to salmonella poisoning as investigation expands.

Photographer and AP agree to drop claims against each other in Obama poster dispute

Photographer and AP drop claims against each other
NEW YORK – A photographer who took a picture that the Barack Obama “HOPE” image was based on has dropped his claim that he owns the copyright to the photograph, instead of The Associated Press. The AP also dropped its claim against him.
The agreement between the …. Source  : Gaea News Network.

USTelecom spent $1.57 million in second quarter to lobby gov’t on taxes, broadband and more

USTelecom spent $1.57M lobbying in second quarter

WASHINGTON – The United States Telecom Association, which represents phone companies, spent $1.57 million in the second quarter to lobby the federal government on phone bill taxes, broadband buildout provisions of the stimulus bill and other issues, according to a disclosure report.
That’s in addition to money spent by USTelecom’s …. Read the original article  : USTelecom spent $1.57 million in second quarter to lobby gov’t on taxes, broadband and more.