Business News – Weekly Newsletter for September 6-13, 2010

Business News – Weekly Newsletter for September 6-13, 2010

Monday, September 13, 2010

Sensex continues strong, up 308 points

MUMBAI – A benchmark index for Indian equities built on its early morning gains and was ruling almost 308 points higher than its previous close in afternoon trade Monday.

Other Asian markets too rallied, strengthening the buying sentiment at the bourse here.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened … Read : Sensex continues strong, up 308 points.

World shares climb, following US, as fears of double-dip recession ease

World markets climb as double-dip fears ease

SINGAPORE – World stocks advanced Monday following solid gains in the U.S. as fears eased that the global economy could slip back into recession.
Most investors took heart after the U.S. Labor Department on Friday said private employers added 67,000 jobs in August, more than analysts expected. However, the jobless …. Original source : World shares climb, following US, as fears of double-dip recession ease.

IGCAR to develop advanced boiler for coal- fired power plants

CHENNAI – The Indira Gandhi Centre for Atomic Research (IGCAR) in Kalpakkam has decided to design and develop a 800 MW advanced, ultra super-critical boiler for use in coal-fired power plants.

IGCAR has signed a Memorandum of Understanding (MoU) with power equipment manufacturer BHEL and power generating company NTPC.
As per plans, IGCAR will design …. Source article on Gaea Times at : IGCAR to develop advanced boiler for coal- fired power plants.

Oil hovers above $74 a barrel in Asia as traders eye US unemployment, China demand

Oil hovers above $74 as traders eye US economy

SINGAPORE – Oil prices slipped to near $74 a barrel Monday in Asia as traders weighed whether growing Chinese demand can offset weak U.S. fuel consumption amid high unemployment.
Benchmark oil for October delivery was down 25 cents at $74.35 a barrel at late afternoon Singapore time in … Read : Oil hovers above $74 a barrel in Asia as traders eye US unemployment, China demand.

RCom calls off tower deal with GTL Infra

NEW DELHI – Anil Ambani-promoted Reliance Communications (RCom) Monday said it is not going ahead with the merger of its telecom tower arm with GTL Infra and would scout for other prospective investors.

“RCom is engaged in discussions with other strategic and financial investors to pursue a similar transaction aimed at significant reduction in the company’s …. Source article : RCom calls off tower deal with GTL Infra.

Star of documentary on Japan’s dolphin hunt says activists may need to ease up to end killing

‘The Cove’ star: Dolphin activists need to ease up

TOKYO – The star of an Oscar-winning documentary about a Japanese village’s infamous dolphin hunt said Monday that activists trying to stop the killing might need to back off and allow the Japanese people to tackle the issue themselves.
“The Cove” highlighted the story of a handful of … Read more : Star of documentary on Japan’s dolphin hunt says activists may need to ease up to end killing.

Twinings tells staff to train foreign replacements

LONDON – Employees at a famous tea firm in Britain are in a shock after they came to know that they would have to train foreign workers who will replace them.

Twinings, founded in 1706, announced last year it would be closing its factory in North Shields town with the loss of 263 jobs, the Daily …. Original source : Twinings tells staff to train foreign replacements.

Star cornerback Darrelle Revis agrees to terms on 4-year deal with Jets

Revis, Jets agree to terms on 4-year deal
NEW YORK – Revis Island is open for business again – just in time for the New York Jets to start their Super Bowl run.

All-Pro cornerback Darrelle Revis and the Jets agreed in principle to a four-year contract Sunday night, reaching a deal a week before the team’s …. Source article on Gaea Times at : Star cornerback Darrelle Revis agrees to terms on 4-year deal with Jets.

WTO chief wants G20 leaders to discuss pushing forward global trade deal

WTO chief wants G20 push on global trade deal
SEOUL, South Korea – Group of 20 leaders should use their November summit to make a serious push for the conclusion of stalled global trade negotiations, the head of the WTO said Monday.
World Trade Organization talks aimed at a new global commerce pact – the … Read : WTO chief wants G20 leaders to discuss pushing forward global trade deal.

China praises ’sound’ relationship with US during talks with economic, security officials

China praises ’sound, stable’ relationship with US
BEIJING – Senior U.S. and Chinese officials met Monday to steady relations beset by tensions over currency, trade and military affairs.
With crucial elections coming up in November, U.S. President Barack Obama is under huge pressure to kick-start the economy with unemployment at just under 10 percent. China’s …. Source : China praises ’sound’ relationship with US during talks with economic, security officials.

Using algae to trap carbon dioxide, Orissa show how

NEW DELHI – The green slimy algae can play a major role in reducing carbon dioxide in the atmosphere and cleaning industry-polluted air. The Orissa government is launching a project to capture carbon dioxide using algae, the first such venture in India, with the rising number of industries in the state.

The Rs.95-lakh/Rs 9.5 million project … Read the original article on Gaea Times at : Using algae to trap carbon dioxide, Orissa show how.

Asian shares climb, following US, as fears of double-dip recession ease

Asian markets climb as double-dip fears ease

SINGAPORE – Stocks in Asia advanced Monday following solid gains in the U.S. as fears eased that the global economy could slip back into recession.
Most investors took heart after the U.S. Labor Department on Friday said private employers added 67,000 jobs in August, more than analysts expected. However, the … Read : Asian shares climb, following US, as fears of double-dip recession ease.

Work on first fast-breeder fuel cycle facility next year

CHENNAI – Work on India’s first fast-breeder fuel cycle facility (FRFCF) is expected to start next year with the project’s regulatory clearances reaching the final leg.

“Construction work on the Rs.5,000-crore facility is expected to start in 2011 and get over by the end of the 12th Five Year Plan period,” Baldev Raj, director of …. Original source : Work on first fast-breeder fuel cycle facility next year.

Pulsar 220 New Model Launched

COLOMBO, SRI LANKA (GaeaTimes.com)- Bajaj Auto which is one of the leading India based motorbike manufacturers has recently launched a revamped version of its popular Pulsar model in Sri Lanka. The revamped Pulsar 220 boasts of a plethora of new features and stylish looks. The new version labeled Pulsar 220 DTS-I has … Read : Pulsar 220 New Model Launched.

Chinese official defends trade policy, says Beijing will boost imports, help world recovery

China vows to boost imports, help world recovery
BEIJING – A Chinese official defended the country’s trade record Monday as a top economic adviser to President Barack Obama visited Beijing amid renewed pressure by American lawmakers over Chinese currency controls.
China’s deputy trade envoy, Chong Quan, rejected complaints that Beijing intentionally boosts its trade surplus …. Original article : Chinese official defends trade policy, says Beijing will boost imports, help world recovery.

Sensex soars in early trade

MUMBAI – A benchmark index for Indian equities soared in early trade Monday and was ruling 130 points higher within minutes of opening bell.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,124.29 points, was at 18,352.68 points, 131.25 points or 0.72 percent up from its previous close at 18,221.43 …. Source article on Gaea Times at : Sensex soars in early trade.

Oil slips to near $74 a barrel in Asia as high US unemployment bodes ill for crude demand

Oil slips to near $74 as US jobless rate rises

SINGAPORE – Oil prices slipped to near $74 a barrel Monday in Asia as a stubbornly high U.S. unemployment rate undermined confidence in stronger demand for fuel.
Benchmark oil for October delivery was down 35 cents at $74.25 a barrel at midday Singapore time in electronic trading …. Read the original article : Oil slips to near $74 a barrel in Asia as high US unemployment bodes ill for crude demand.

Money Market Operations as on Sep 03, 2010

…. Read the original article : Money Market Operations as on Sep 03, 2010.

Asian shares climb after solid gains on Wall Street, as US jobs data beats expectations

Asian markets climb after positive US jobs data

TOKYO – Stocks in Asia nudged higher in early trade Monday, after shares in the U.S. rose last week on the back of strong jobs data.
Japan’s benchmark Nikkei 225 stock index was up 1.1 percent, or 96.79 points, at 9211.82. South Korea’s Kospi rose 0.4 percent, or 7.49 …. Source article on Gaea Times at : Asian shares climb after solid gains on Wall Street, as US jobs data beats expectations.

YouTube launches Hebrew interface

JERUSALEM – Online video sharing website YouTube has launched a Hebrew-language interface in Israel, which will allow the users to view and share Hebrew contents on the website.

The new interface allows customisation of the popular video site in order to properly view Hebrew language content, Xinhua reported quoting the Israel Globes business website.
“Two … Original article on : YouTube launches Hebrew interface.

China rejects currency pressure amid visit by US envoys, says Beijing will set pace of change

China rejects currency pressure amid US visit

BEIJING – China rejected pressure over currency Tuesday amid a visit by two high-level U.S. envoys, saying Beijing will set the pace of exchange rate reforms.
Currency has re-emerged as an irritant in U.S.-Chinese relations as American leaders face pressure to create jobs ahead of November elections. Lawmakers who want … Read this article on Gaea Times at : China rejects currency pressure amid visit by US envoys, says Beijing will set pace of change.

Strike paralyses parts of India (Afternoon Lead)

KOLKATA/NEW DELHI – Millions of people struck work and scores of flights were cancelled as a 24-hour nationwide strike called by eight trade unions against rising prices and privatisation disrupted life in parts of India, particularly those ruled by Left parties.

The strike was virtually complete in the Communist Party of India-Marxist (CPI-M) ruled states … Read the original article on Gaea Times at : Strike paralyses parts of India (Afternoon Lead).

Travel misery for millions as Tube strike hits London

LONDON – A strike by workers on the London Underground (Tube) caused severe disruption and delays for millions of travellers Tuesday, early reports showed.

Maintenance staff, drivers and station employees joined a 24-hour strike called by unions in protest against staff cuts which they claim pose a threat to security on the line and at unmanned …. Read the original article : Travel misery for millions as Tube strike hits London.

High gold prices leave Ahmedabad’s small time jewelers worried

AHMEDABAD – At least 60 percent of small-scale jewellery businesses have been affected in Ahmedabad as the price of gold increasing.

With the festival season round the corner, the number of customers at jewellery shops is dwindling, leaving shopkeepers worried.

“Ahmedabad …. Source article : High gold prices leave Ahmedabad’s small time jewelers worried.

Sensex holding up, but choppy

MUMBAI – A benchmark index for Indian equities opened on a positive note Tuesday and is ruling 61 points higher than its previous close in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,571.73 points, is at 18,623.53 points, 63.48 points or 0.34 percent up from its previous …. Source : Gaea News Network.

Report: China passenger car sales up 18 percent in August, on subsidies, lower prices

Report: China passenger car sales up 18 pct in Aug

SHANGHAI – Sales of passenger cars in China – the world’s biggest market – rose 18 percent in August from a year earlier, a report said Tuesday, as government subsidies and price cuts by dealers helped spur demand.
Passenger car sales totaled 1.02 million vehicles in August, … Original source on Gaea Times at : Report: China passenger car sales up 18 percent in August, on subsidies, lower prices.

Kolkata-Dhaka Maitree Express cancelled Sept 11-12

NEW DELHI – Maitree Express, running between Kolkata and Dhaka, will not make its weekend trips this week on account of Eid.

A decision to cancel the weekend trips of the bi-weekly train, leaving Kolkata Sept 11 and returning from Dhaka the following day, has been taken on the request of Bangladesh Railway, said an official [..] Read the original article: here.

Indian firms to up hiring in October-December quarter: Survey

NEW DELHI – Indian companies are planning to add headcount to their payrolls in the quarter ending December, with education sector leading the way, according to a survey released Tuesday.

“Job seekers can remain excited about new job opportunities in India as India’s employers expect the hiring momentum to continue at a robust pace going into …. Source : Gaea News Network.

Finnair to start daily Helsinki-Delhi service from January

HELSINKI – Nordic carrier Finnair will start a daily service between Helsinki and New Delhi from the first week of January while making takeoff and landing times from and to the Indian capital more convenient for passengers soon.

“Our passenger load factor has been the highest from Asia, notably India. We are waiting for deliveries of …. Original article : Finnair to start daily Helsinki-Delhi service from January.

Trade unions’ strike hits life, businesses in Orissa

BHUBANESWAR – The one-day nationwide shutdown called by eight trade unions Tuesday partially hit normal life and businesses in several industrial towns of Orissa.

The roads were deserted in Rourkela, Sundergarh, Jharsuguda and Berhampur as the operators kept buses and commercial vehicles off the roads, a senior state police official told IANS.
Mining operations in …. Original source : Trade unions’ strike hits life, businesses in Orissa.

Barclays CEO John Varley to retire, investment bank head Robert Diamond to move up

Barclays CEO John Varley to step down
LONDON – John Varley, who guided Barclays bank through the credit crisis without resorting to a government bailout, will retire next year as chief executive, to be succeeded by the head of the group’s highly profitable investment banking operation, the company said Tuesday.

Robert E. Diamond Jr., 59, will take …. Source : Barclays CEO John Varley to retire, investment bank head Robert Diamond to move up.

Industrialists, economists slam frequent strikes

KOLKATA – As West Bengal slipped into yet another unproductive day Tuesday, thanks to a national strike called by trade unions, industrialists and economists felt that such shutdowns only inconvenienced people and led to loss of business.

Sanjay Budhia, chairman, Confederation of Indian Industry (CII) National Committee on Exports, told IANS: “Bandhs (shutdowns) mean loss of …. Original article : Industrialists, economists slam frequent strikes.

Strike is 99 percent successful: INTUC chief Sanjeeva Reddy

NEW DELHI – More than 100 million workers across India took part in the one-day strike called by eight trade unions Tuesday, said G. Sanjeeva Reddy, president of the Congress-backed INTUC, who claimed that the protest had the backing of party chief Sonia Gandhi.

“The strike is 99 percent successful,” Reddy, a Rajya Sabha MP and …. Read the original article : Strike is 99 percent successful: INTUC chief Sanjeeva Reddy.

Sharp decline in labour exodus, says Chhattisgarh

RAIPUR – The Chhattisgarh government Tuesday said the number of people migrating out of the state in search of jobs has seen a sharp decline, but the opposition dismissed this as a tall claim.

“Just 40,884 workers migrated from the state in fiscal year 2009-10, which is 10 times lower than the figure of 565,000 in … Original article on : Sharp decline in labour exodus, says Chhattisgarh.

Oil falls to below $74 in Asia as investors eye strength of US economy, crude demand

Oil falls below $74 as traders look to US economy

SINGAPORE – Oil prices fell to near $74 a barrel Tuesday in Asia as investors mull the strength of the U.S. economy and demand for crude.
Benchmark oil for October delivery was down 83 cents at $73.77 a barrel at late afternoon Singapore time in electronic trading … Original source on Gaea Times at : Oil falls to below $74 in Asia as investors eye strength of US economy, crude demand.

More contests, more at stake, looser rules send election spending into the stratosphere

No recession here: Election spending sets records

WASHINGTON – Turns out politics, for all its focus on the gloomy economy, is a recession-proof industry.
This year’s volatile election is bursting with money, setting fundraising and spending records in a high-stakes struggle for control of Congress amid looser but still fuzzy campaign finance rules.
Based on the latest financial …. Source article on Gaea Times at : More contests, more at stake, looser rules send election spending into the stratosphere.

Jets’ Revis calls visit from Ryan, Johnson ‘breakthrough’ in contract negotiations

Rex, Woody visit helped seal Revis deal for Jets

FLORHAM PARK, N.J. – Darrelle Revis and Rex Ryan looked at each other, huddled in a conference room in Florida, and immediately knew they had the same game plan.
The New York Jets’ star cornerback wanted to get back on the football field.
The brash and boisterous coach badly … Read : Jets’ Revis calls visit from Ryan, Johnson ‘breakthrough’ in contract negotiations.

London commuters struggle to work as strike over job cuts shuts much of subway system

London commuters struggle as strike closes subway

LONDON – Millions of Londoners are struggling to get to work by road, rail boat and bicycle as a strike by London Underground workers shuts down much of the city’s subway system.
Thousands of maintenance workers, drivers and station staff walked off the job for 24 hours in a dispute …. Source : London commuters struggle to work as strike over job cuts shuts much of subway system.

Poor response in Bangalore to strike call

BANGALORE – Public sector banks were shut but life was near normal as Bangalore saw little response to the nationwide strike called by trade unions Tuesday against price rise and privatisation.

There was poor response to the strike in other parts of Karnataka like Mangalore, Hubli, Shimoga, Davangere and Mysore as well.
In Bangalore, schools, … Read the original article on Gaea Times at : Poor response in Bangalore to strike call.

Nationwide strike cripples life in Tripura

AGARTALA – The nationwide industrial strike called by major trade unions to protest increasing prices and privatisation crippled life in Left-ruled Tripura.

“The strike was total with people expressing their anger against price rise, retrenchment, underpayment, poverty and many of the economic policies of the UPA (United Progressive Alliance) government,” Centre of Indian Trade Unions (CITU) …. Source : Nationwide strike cripples life in Tripura.

India now has over 650 million mobile phone connections

NEW DELHI – India’s mobile phone market continued to expand at a robust pace with total connections estimated at 652.42 million as on Aug 1, thanks to 16.92 million new subscribers joining the network in July, official data showed Wednesday.

According to the Telecom Regulatory Authority of India (Trai), the wireless phone user base grew … Read this article on Gaea Times at : India now has over 650 million mobile phone connections.

As Rahul spoke, farmer suicides continued in Vidarbha

NAGPUR – Five debt-trapped farmers in Maharashtra’s Vidarbha area committed suicide even as Congress general secretary Rahul Gandhi was visiting Akola in the region, a farmer watchdog group said Wednesday.

The suicides on Tuesday came on the eve of the main festival of the farming community, Pola, and three days before the 10-day Ganapati festival, … Original source on Gaea Times at : As Rahul spoke, farmer suicides continued in Vidarbha.

Piramal concludes sale of formulations business to Abott

MUMBAI – Piramal Healthcare Wednesday announced it has concluded the first part of its $3.72-billion deal to sell its domestic formulations business to Illinois-based Abbott Healthcare.

In a regulatory filing with the Bombay Stock Exchange (BSE), Piramal Healthcare, which owned popular brands such as Phensedyl, Paraxin and Pentids, said the sale include 350 trademarks, as also …. Source : Gaea News Network.

Mobile subscriber base crosses 652.42 million mark

NEW DELHI – The number of mobile subscribers in the country crossed the 652.42 million mark in July, with the addition of 16.92 million connections, official data show.

According to the Telecom Regulatory Authority of India (Trai), the wireless user base grew 2.66 percent to 652.42 million in July from 635.51 million in the previous … Read the original article on Gaea Times at : Mobile subscriber base crosses 652.42 million mark.

FBI: Thai Airways plane searched, no explosives or credible threat found, no arrests

FBI: Aircraft searched, no credible threat found

LOS ANGELES – The FBI says investigators have found no explosives aboard a Los Angeles-bound Thai Airways flight in which a bomb threat was found scrawled on a bathroom mirror.
FBI spokeswoman Laura Eimiller says investigators conducted a thorough search of the plane Tuesday night and found no evidence to … Read more : FBI: Thai Airways plane searched, no explosives or credible threat found, no arrests.

Sensex back in green after shedding 104 points in early trade

MUMBAI – A benchmark index for Indian equities moved back into the positive terrain in afternoon trade Wednesday after retreating over 104 points in the earlier session on profit taking.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), opened deep in the red on negative Asian cues.
However, the index recouped …. Original article : Sensex back in green after shedding 104 points in early trade.

Former NM governor, little known nationally, mulls presidential run on small gov’t platform

Former NM gov is little known but has big ideas

DAVENPORT, Iowa – Despite two terms as governor of New Mexico and recent visits to 26 states, most Americans have never heard of Gary Johnson.
The former Republican governor is mulling a run for president, and his libertarian views and small government platform fit the disenchantment many … Original source on Gaea Times at : Former NM governor, little known nationally, mulls presidential run on small gov’t platform.

Chicago mayor’s race promises to be most competitive in decades as Daley steps aside

Chicago mayor race wide open as Daley steps aside
CHICAGO – Suddenly, the race for Chicago mayor is on. Mayor Richard M. Daley has thrown the competition for the city’s top job wide open by announcing he won’t run for a seventh term, ending 21 years of token opposition and prompting speculation about who’s …. Read the original article : Chicago mayor’s race promises to be most competitive in decades as Daley steps aside.

ADWATCH: Political ads stretch health care facts, omit others in volatile election year

ADWATCH: Ads attacking health plan miss some facts
WASHINGTON – President Barack Obama’s health care initiative is getting toxic on the campaign trail.
With the country sharply divided over the sweeping new insurance law, Republicans and their allies are taking to the airwaves to attack it as elections near, often resorting to exaggeration and omissions …. Original article on Gaea Times at : ADWATCH: Political ads stretch health care facts, omit others in volatile election year.

Looking to show action on economy, Obama to promote trio of proposals for growth Wednesday

Obama to pitch trio of economic proposals
WASHINGTON – President Barack Obama is pitching a trio of economic proposals Wednesday in an effort to show the public he’s taking action to spur economic growth.
During a trip to Cleveland, the president will outline a $50 billion infrastructure investment, a permanent expansion of research …. Read the original article : here.

Japan machinery orders post biggest rise in 7 months in sign of higher business confidence

Japan machinery orders up 8.8 percent in July

TOKYO – Japan’s machinery orders, a key gauge of future business investment, rose the most in seven months, a sign that companies are more confident in the economic recovery.
The 8.8 percent jump in July from June was the second straight month of increase as solid overseas demand bolstered …. Source article on Gaea Times at : Japan machinery orders post biggest rise in 7 months in sign of higher business confidence.

Most Asian stocks fall on renewed worries over European bank debt, yen’s surge against dollar

Asia stocks down on Europe debt worries, yen surge

BEIJING – Most Asian stock markets slid Wednesday, pressured by the yen hitting a fresh 15-year high and new concerns about European banks after a report they may have more risky government debt than thought.
Japan’s benchmark Nikkei 225 stock index dropped 214.73 points, or 2.2 percent, to … Read : Most Asian stocks fall on renewed worries over European bank debt, yen’s surge against dollar.

A White House visit ahead, China’s president calls for stable ties with US

China’s Hu calls for stable ties with US
BEIJING – Trying to smooth over recently rocky relations before he visits Washington, Chinese President Hu Jintao told aides to U.S. President Barack Obama on Wednesday that he wants to see healthy and stable ties between the two countries.
The meeting between Hu and a … Read : A White House visit ahead, China’s president calls for stable ties with US.

German exports dip 1.5 percent on the month in July; up 18.7 percent year-on-year

German exports slightly lower on month in July

BERLIN – Official data show that German exports dipped by 1.5 percent in July compared with the previous month but were still up a strong 18.7 over the same month last year.
The monthly drop reported by the Federal Statistical Office on Wednesday followed two months of big gains. …. Read the original article : German exports dip 1.5 percent on the month in July; up 18.7 percent year-on-year.

Fruit bats destroy apple crop in Himachal

SHIMLA – Fruit bats, which play a critical role in controlling pests, have become a menace in the Jubbal-Rohru belt in the upper Shimla region of Himachal Pradesh, destroying a ripe apple crop.

Bats leave claw marks on most of the fruits, making these unfit for human consumption.
Roshan Lal Manta, an apple grower in Bhamnoli …. Read the original article : Fruit bats destroy apple crop in Himachal.

Suicides, depression cost Japan’s economy $32 billion last year

Depression costs Japan’s economy $32 billion

TOKYO – Suicides and other depression cases cost Japan’s economy about 2.7 trillion yen ($32 billion) last year, the government said Wednesday, releasing such data for the first time in a bid to raise public awareness of the nation’s long-battled social woe.
The figure included an estimated income of 1.9 trillion … Read this article on Gaea Times at : Suicides, depression cost Japan’s economy $32 billion last year.

Dollar falls to 15-year low against Japanese yen, trades at low 83-yen level

Dollar sinks to 15-year low against Japanese yen

TOKYO – The U.S. dollar sank to a new 15-year low against the yen on Wednesday as investors continued to buy the Japanese currency as a safe haven for their money amid uncertainty about the global economic recovery.
The dollar sank to 83.32 yen in afternoon trade in Tokyo. [..] Read the original article: here.

Oil falls below $74 in Asia as traders eye equity slump, EU bank debt worries

Oil falls below $74 on EU bank debt worries

SINGAPORE – Oil prices skidded below $74 a barrel Wednesday in Asia as traders followed regional stocks down on reports European banks may be saddled with more debt than previously estimated.
Benchmark oil for October delivery was down 40 cents at $73.69 a barrel at late afternoon Singapore … Read the original article on Gaea Times at : Oil falls below $74 in Asia as traders eye equity slump, EU bank debt worries.

India seeks Canadian investment in food processing

TORONTO – Subodh Kant Sahai, India’s minister for food processing industries, has called upon Canadian companies to invest in the fast growing sector of the Indian economy.

Sahai, who is here to seek investment and knowhow, said the Indian food processing sector was growing by more than 14 percent and many Canadian companies have evinced keen … Read more »».

GE and PepsiCo in India among 12 ACE finalists

WASHINGTON – GE and PepsiCo in India are among 12 American companies selected as finalists for the Secretary of State’s prestigious 2010 Award for Corporate Excellence (ACE).

Chosen from a record number of 78 nominations submitted by American ambassadors around the world, ACE finalists are international business leaders who recognize the vital role that US businesses … Read more »»».

Asian stock markets encouraged by Portugal debt auction, softer yen; Europe mixed

Asian shares mostly rise as Europe worries ease

SHANGHAI – World stocks were mostly higher Thursday as news of a successful bond sale by Portugal eased worries over Europe’s debt woes. But Chinese shares fell on fears that authorities might do more to cool the property sector.
European markets were mixed in early trading, with Britain’s FTSE … Read : Asian stock markets encouraged by Portugal debt auction, softer yen; Europe mixed.

China shares fall on renewed fears of property curbs ahead of monthly economic data

China shares fall on renewed property curb fears

SHANGHAI – Chinese shares fell Thursday on fears of possible new government curbs on real estate as investors waited for monthly economic data.
The benchmark Shanghai Composite Index lost 38.94 points, or 1.4 percent, to close at 2,656.35. The Shenzhen Composite Index for China’s smaller second exchange also shed …. Original article : China shares fall on renewed fears of property curbs ahead of monthly economic data.

Massive diamond unearthed from Lesotho mine

LONDON – A magnificient 196-carat rough white diamond has been unearthed at a mine in Lesotho, the firm owning the mine said here. The find is, however, dwarfed by the Cullinan diamond.

The diamond that measures 1.18 inches across is expected to get a “substantial” price when it is sold by Gem Diamonds. The dazzling rock …. Source : Massive diamond unearthed from Lesotho mine.

India car sales hit all-time high in August on holiday buying despite rising prices

India car sales hit all-time high in August

MUMBAI, India – Car sales in India surged to a record for a second straight month in August on strong demand before the holiday season, despite rising prices and supply constraints.
Figures released Thursday by the Society of Indian Automobile Manufacturers showed that car sales hit 160,794 vehicles in … Read : India car sales hit all-time high in August on holiday buying despite rising prices.

Prices of pulses, fruits keep India’s food inflation high

NEW DELHI – High prices of pulses, fruits and milk pushed up India’s annual food inflation higher to 11.47 percent for the week ended Aug 28 from 10.86 percent for the week before, official data released Friday showed.

The annual inflation rate for the primary articles groups also inched up higher to 15.4 percent from 15.19 … Read : Prices of pulses, fruits keep India’s food inflation high.

Korea National Oil Corp. rules out higher bid for UK’s Dana Petroleum

KNOC rules out higher bid for UK’s Dana Petroleum

LONDON – Korea National Oil Corp. says it won’t raise its hostile takeover bid for Britain’s Dana Petroleum.
The statement released Thursday follows Dana’s publication of a defense document which argued that the company was worth significantly more than KNOC’s offer of 1.87 billion pounds ($2.9 billion), or …. Original article : Korea National Oil Corp. rules out higher bid for UK’s Dana Petroleum.

Karzai’s brother used Kabul Bank funds to make a killing

LONDON – Afghan President Hamid Karzai’s brother made a half-million pound profit in eight months on a high-end villa in Dubai bought with a loan from the troubled Kabul Bank.

Mahmoud Karzai, a high-profile businessman in Afghanistan, borrowed seven million UAE dirhams (1.23 million pounds) from Kabul Bank, in which he is also the third …. Read the original article : Karzai’s brother used Kabul Bank funds to make a killing.

Alliance to build residential, commercial projects in Chennai

CHENNAI – Expecting a steady demand, Bangalore-based real estate developer Alliance has shifted focus to Chennai and is looking at developing projects of five acres or less to grow big in the city.

“The city has a healthy mix of industries unlike Bangalore, Hyderabad which are software focused. The market will be good for us as …. Original article on Gaea Times at : Alliance to build residential, commercial projects in Chennai.

Gov’t forecast: Moderate spending increase as 32 million gain coverage under health overhaul

Gov’t: Spending to rise under health care overhaul
WASHINGTON – The nation’s health care tab will go up – not down – as a result of President Barack Obama’s sweeping overhaul. That’s the conclusion of a government forecast released Thursday, which also finds the increase will be modest.
The average annual growth in … Original source on Gaea Times at : Gov’t forecast: Moderate spending increase as 32 million gain coverage under health overhaul.

Protect environment for sustainable development: Sonia

NEW DELHI – Farmers should get adequate compensation for their land, Congress president Sonia Gandhi said Thursday and stressed that the environment should be protected to ensure sustainable development.

“We must protect the environment to ensure sustainable development. In whatever we do, we should not forget forest and environment. Farmers should be provided adequate compensation,” Gandhi …. Original article on Gaea Times at : Protect environment for sustainable development: Sonia.

Lanco achieves financial closure of Orissa power project

MUMBAI – Lanco Infratech Thursday said a 1,320 MW thermal power plant in Orissa, developed by group firm Lanco Babandh Power, has achieved financial closure.

“The project, estimated to cost Rs.6,930 crore, would be financed with a debt of Rs.5,544 crore and an equity of Rs.1,386 crore,” said the company in a regulatory filing. … Original article on : Lanco achieves financial closure of Orissa power project.

Euro slides to $1.2693, reversing slight gains on Portuguese bond auction

Euro slides to $1.2693
BERLIN – The euro has slipped back below $1.27, giving up slight gains it made thanks to a relatively successful bond auction in Portugal.

The euro bought $1.2693 in Thursday morning European trading, down from $1.2724 in New York late Wednesday.
Strong investor interest in Wednesday’s Portugese auction helped assuage concerns over the indebted … Read this article on Gaea Times at : Euro slides to $1.2693, reversing slight gains on Portuguese bond auction.

Indian tea prices firming up, exports up, production down

GUWAHATI – The beleaguered Indian tea industry is on a comeback trail with exports increasing and prices firming up in the weekly auctions despite adverse climatic conditions hitting production and rampant pests eating away the crop in some areas.

“Exports rose by about 14 million kg to 107 million kg from January to August, compared to …. Source article : Indian tea prices firming up, exports up, production down.

Cuba’s communist system gets panned by unlikely source _ revolutionary leader Fidel Castro

Fidel latest to say Cuba’s communism doesn’t work

HAVANA – Cuba’s communist economic model has come in for criticism from an unlikely source: Fidel Castro.
The revolutionary leader told a visiting American journalist and a U.S.-Cuba policy expert that the island’s state-dominated system is in need of change, a rare comment on domestic affairs from a man …. Read the original article : Cuba’s communist system gets panned by unlikely source _ revolutionary leader Fidel Castro.

Google launches ‘Instant’ service

LONDON – Google search is now faster than before as the company has launched a live-updating service that will save surfers 2-5 seconds of online search time.

The product, named “Instant”, will begin to roll out search results around the world from Thursday night, the Daily Telegraph reported.
Google searches will now predict … Read more >>.

Expat embraces Indian Dynamism; launches website to support charity

New Delhi, Sept.9 (ANI-Business Wire India): A simple vision of one person has helped build an empowered organization that supports many charities in India.

With an intention of creating an avenue for people to learn more about her work, the charities supported by and how people …. Original article : Expat embraces Indian Dynamism; launches website to support charity.

Wipro, Oracle strengthen ties, to foster growth for customers

Bangalore (Karnataka), Sept.9 (ANI-Business Wire India): Wipro Technologies, the global IT services division of Wipro Limited and Oracle have announced an expansion of their existing partnership aimed at enhancing development and implementation of best-in-class solutions for customers.

Wipro joins Oracle … Read more >>.

Instamedia secures 4 mln dollar investment from Times of India Group

Shimla (Himachal Pradesh), Sept.9 (ANI-Business Wire India): Instamedia Network, the web’s leading content network and creator of Software as a Service (SaaS) based content platform, Instapress, has secured a four million dollar in Series A funding from Times Internet Limited, … Read more : Instamedia secures 4 mln dollar investment from Times of India Group.

Spanish miners stay underground to demand pay arrears

Madrid, Sep 9 (IANS/EFE) Two groups of Spanish coal miners are staging protests by refusing to surface from mines to demand payment of back salaries and a lasting solution to the problems of the sector.

Fifty-two miners working for the Union Minera del Norte, or Unisma company, have enclosed themselves up at that firm’s … Original article on : Spanish miners stay underground to demand pay arrears.

Oil hovers near $75 in Asia after report shows US crude supplies drop more than expected

Oil hovers near $75 amid US crude supply drop

SINGAPORE – Oil prices hovered near $75 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting demand may be improving.
Benchmark oil for October delivery was up 1 cent at $74.68 a barrel at midday Singapore time in electronic trading …. Original article on Gaea Times at : Oil hovers near $75 in Asia after report shows US crude supplies drop more than expected.

Finnair launches advanced emissions calculator

HELSINKI – Nordic carrier Finnair has launched an advanced emissions calculator and says it is the “only one in the world to be based on actual quarterly cargo, passenger and fuel consumption figures, not averages or assumptions”.

“We wanted to devise a calculator whose figures are indisputable because transparency is one of the cornerstones of our …. Read the original article : Finnair launches advanced emissions calculator.

Dubai World says it has 99 percent of lenders on board with its $24.9B restructuring bid

Dubai World wins over most creditors to debt plan

DUBAI, United Arab Emirates – Dubai World says it has won over nearly all its creditors to its plan to restructure $24.9 billion in debt.
The struggling state conglomerate said Friday it has the support of about 99 percent of its lenders, who represent nearly all the debt … Read the original article on Gaea Times at : Dubai World says it has 99 percent of lenders on board with its $24.9B restructuring bid.

Oil climbs to near $76 a barrel in Asia on improvement in economic indicators

Oil climbs to near $76 on economic indicators

BANGKOK – Oil prices climbed to near $76 a barrel Friday in Asia as better economic indicators from Japan to the U.S. boosted confidence that demand for fuel will improve.
Benchmark crude for October delivery was up $1.57 to $75.82 a barrel at late afternoon Bangkok time in electronic … Read more : Oil climbs to near $76 a barrel in Asia on improvement in economic indicators.

Spanish Accelya takes control of Kale Consultants for $21 mn

MUMBAI – Leading technology solutions provider to the global airline, logistics and travel (ALT) industry, Kale Consultants Friday said its promoters have sold their controlling stakes in the company to Spanish firm Accelya for Rs.97.52 crore ($21 million).

The deal makes the Barcelona-based Accelya the world’s largest back-office services provider for airlines.
“Under the …. Source article : Spanish Accelya takes control of Kale Consultants for $21 mn.

Maryland features a competitive gov’s race _ with some tea party side drama in GOP primary

Tight gov’s race brewing in Democratic Maryland
ANNAPOLIS, Md. – Four years of budget woes, tax increases in 2007 and the national antiestablishment mood have given Republican Robert Ehrlich a shot at winning his old job back against Gov. Martin O’Malley in one of the most Democratic states in the country.
Ehrlich first must prevail … Original source on Gaea Times at : Maryland features a competitive gov’s race _ with some tea party side drama in GOP primary.

Japan revises up 2Q economic growth before announcing new stimulus details

Japan introduces new stimulus, better 2Q growth

TOKYO – Japan’s economy isn’t quite as weak as first thought, but it still needs help, the government said Friday as it unveiled details of a new $11 billion stimulus package.
Revised figures showed that gross domestic product expanded at an annualized rate of 1.5 percent in the April-June period, …. Source article on Gaea Times at : Japan revises up 2Q economic growth before announcing new stimulus details.

ECB’s Trichet: phasing out special crisis funding for banks will take time

Trichet: phasing out crisis measures to take time

BERLIN – The European Central Bank’s president says it may take a while yet to phase out special efforts to keep banks supplied with credit in the wake of the financial crisis.
The ECB said last week that the remaining measures will stay for the rest of the year.
Trichet …. Original article on Gaea Times at : ECB’s Trichet: phasing out special crisis funding for banks will take time.

Euro down slightly at $1.2684 after better US data, European bank jitters

Euro slightly lower at $1.2684
BERLIN – The euro is a little lower against the dollar after U.S. data showed a drop in the number of people signing up for jobless benefits and as jitters about the European banking sector persist.

The euro bought $1.2684 in Friday morning European trading, down from $1.2700 in New York late … Original article on : Euro down slightly at $1.2684 after better US data, European bank jitters.

POLITICAL INSIDER: Ex-Ambassador Bolton weighing presidential bid to push national security

POLITICAL INSIDER: John Bolton weighs a WH run
WASHINGTON – Former U.S. Ambassador to the United Nations John Bolton says he’s considering a White House run.
President George W. Bush’s top arms control official and later the nation’s top diplomat at the U.N., Bolton told Fox Business Network on Thursday that he is weighing a … Read more : POLITICAL INSIDER: Ex-Ambassador Bolton weighing presidential bid to push national security.

India’s July industrial output jumps to 13.8 percent

NEW DELHI – A 63 percent rise in capital goods production pushed India’s industrial output up to 13.8 percent in July, as against 7.1 percent in the previous month, according to official data released Friday.

The index of industrial production (IIP) had grown at 7.2 percent in July of 2009-10.
The double-digit growth is signifiant … Original source on Gaea Times at : India’s July industrial output jumps to 13.8 percent.

TVS Infotech soon to finalise South African foray

CHENNAI – TVS Infotech Ltd, a software solutions company, expects to finalise its South African foray strategy by the end of this year, a company official said here.

“By December, we will decide whether to have a joint venture with a local partner or operate on our own in South Africa. We are also setting …. Source : Gaea News Network.

Obama to chastise Republicans on economy, tax cuts, policy at White House news conference

Obama to take GOP to task on economy, tax cuts
WASHINGTON – Striving to gain the upper hand on a crucial political issue, President Barack Obama is faulting Republicans for refusing to help him turn around the sluggish economy or support some proposed new tax breaks for businesses that the … Original source on Gaea Times at : Obama to chastise Republicans on economy, tax cuts, policy at White House news conference.

Experts disagree on whether big farms are riskier, but agree egg recall shows potential danger

Experts say big egg farms can mean big problems

CHAMPAIGN, Ill. – From the first days of the massive egg recall from two Iowa farms, one point been clear: When something goes wrong on a big farm, it’s going to be a big problem.
Petaluma, Calif., farmer Arnold Riebli acknowledges that because his operation includes more than … Read the original article on Gaea Times at : Experts disagree on whether big farms are riskier, but agree egg recall shows potential danger.

India’s July industrial output surges 13.8 percent, rebounding from a 13-month low in June

India’s July industrial output surges 13.8 percent

MUMBAI, India – India’s industrial output grew 13.8 percent in July – far more than expected – rebounding from a 13-month low in June and adding to pressure on the central bank to hike interest rates to curb inflation.
Manufacturing, which has the greatest weight in India’s index of industrial … Read more >>>.

US-India Business Council to focus on biotechnology

WASHINGTON – The US-India Business Council will embark on a life sciences executive mission to coincide with the Biotechnology Industry Organisation’s first annual international partnering conference in Hyderabad Sep 21-22.

Led by Amgen’s Romi Singh, executive director of Global Regulatory Affairs and Safety, the mission aims to increase industry cooperation, said the trade association which …. Source : US-India Business Council to focus on biotechnology.

Malaysian Indian billionaire may invest in Indian venture

KUALA LUMPUR – An ethnic Indian, rated as the second richest Malaysian, may invest $250 million in a power production venture in India.

T. Ananda Krishnan’s Usaha Tegas Sdn aims to invest in KSK Energy Ventures Ltd, The Star newspaper said, quoting sources in the firm.
Usaha Tegas may provide as much as US$250 … Read more >>>.

US carriers limited to midnight hours as Tokyo Haneda airport opens to international flights

US airlines squeezed as Haneda goes international

TOKYO – Haneda airport will open up to international flights next month as Japan works to maintain Tokyo’s status as an Asian travel hub. But it comes with a big catch for U.S. airlines who’ve been squeezed into the least convenient time slots.
Opening Haneda to international flights makes a …. Source : US carriers limited to midnight hours as Tokyo Haneda airport opens to international flights.

Indian markets closed Friday

MUMBAI – Indian equities markets were closed Friday on account of Eid.

The benchmark index of the Bombay Stock Exchange (BSE) has moved up 3.17 percent during the week at 18,799.66 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty rose 2.93 percent to close the week at 5,640.05 points.
Broader markets …. Source article on Gaea Times at : Indian markets closed Friday.

Chinese firm to build hydro-power plants in Honduras

Tegucigalpa, Sep 10 (IANS/EFE) The Honduran government and Chinese company Sinohydro have signed an agreement to begin construction next year of three dams on the Patuca river to generate electricity up to 524 MW.

The Honduran president’s office did not indicate the cost of the dams but said that Sinohydro will fund the project with loans … Read more : Chinese firm to build hydro-power plants in Honduras.

$220 million World Bank credit for Bihar flood-affected

WASHINGTON – The International Development Association (IDA), the World Bank’s concessionary lending arm, has approved a $220 million credit to support rebuilding efforts in areas affected by the 2008 Kosi floods in Bihar.

The Bihar Kosi Flood Recovery Project will finance flood recovery efforts through the reconstruction of about 100,000 houses, 90 bridges and 290 kilometres … Read more »»».

Karzai family owns empire in Dubai, claims daily

LONDON – The family and close aides of Afghan President Hamid Karzai have been linked to over a dozen high-end villas in Dubai, raising fears that Western aid money sent to Afghanistan is being misused.

The Daily Telegraph Friday revealed a property empire in Dubai assembled at a cost of 90 million pounds that is … Read the original article on Gaea Times at : Karzai family owns empire in Dubai, claims daily.

Cricket snapshots, African canvases at Gurgaon art mart

GURGAON – High action cricket snapshots on canvas, 50 art works from Tanzania and silk art – nearly 1,000 works by over 100 artists were showcased at the two-day annual Art Mart II here.

The fair aims to meet the growing demand for affordable drawing room art among new segments of buyers in this millenium city … Read this article on Gaea Times at : Cricket snapshots, African canvases at Gurgaon art mart.

Protesters to confront thrifty Greek government, as more cuts planned

Greek protesters to confront thrifty government

THESSALONIKI, Greece – Some 4,500 police are on duty Saturday in the northern Greek city of Thessaloniki as unions vow to hold rallies against possible new spending cuts by the government to cope with country’s major debt crisis.
Prime Minister George Papandreou is due to speak about the economy on Saturday … Read more >>>.

China’s inflation, food prices record steep rise

BEIJING – China’s inflation and food prices both rose sharply in August, its the National Bureau of Statistics (NBS) said Saturday.

China’s consumer price index (CPI), a major gauge to measure inflation, rose by a 22-month high of 3.5 percent in August from one year earlier, the bureau said.
Food prices climbed 7.5 percent year on … Read more : China’s inflation, food prices record steep rise.

China’s inflation edges up in August as flooding drives food costs higher

China’s inflation edges up, driven by food costs

BEIJING – China’s inflation edged higher in August as the nation’s worst flooding in a decade drove an increase in food costs and industrial growth continued to quicken.
Consumer prices rose 3.5 percent in August compared with a year earlier, the National Bureau of Statistics announced Saturday. It was … Read more >>>.

With concerts, games and meet-and-greets, Fashion’s Night Out takes shopping party nationwide

Celebrities, shoppers meet at Fashion’s Night Out

NEW YORK – Naomi Campbell danced on the sidewalk of Madison Avenue in leather hotpants. Alexander Wang led a dance party in a department store. And Vogue’s Anna Wintour wore a (gasp) T-shirt.
It could only be Fashion’s Night Out, the one-night celebration dreamed up by Wintour to lure shoppers …. Read the original article : With concerts, games and meet-and-greets, Fashion’s Night Out takes shopping party nationwide.

Minnesota Public Radio’s Bill Kling, founder and CEO, to step down in June 2011

Minnesota Public Radio CEO, founder to step down

MINNEAPOLIS – Bill Kling started Minnesota Public Radio with just one station in a college town more than 40 years ago and built a broadcasting empire that stretches into southern California and South Florida. Now, MPR’s parent company will look for a new leader after Kling, its founder … Original article on : Minnesota Public Radio’s Bill Kling, founder and CEO, to step down in June 2011.

TransCanada says it will seek US crude for planned oil pipeline from Alberta to Gulf of Mexico

TransCanada seeks US crude for oil sands pipeline
BILLINGS, Mont. – A Canadian company is inviting U.S. oil producers to bid on rights to use a proposed pipeline from Canada to the Gulf of Mexico, easing worries that domestic crude could get left out of the project.
TransCanada Corp. and Montana Gov. Brian Schweitzer plan … Read more »».

Nebraska tax revenue tops projections by 2.7 pct in August, brightening state budget picture

Neb. tax revenue beats projections in August

OMAHA, Neb. – Nebraska tax revenue beat projections in August for the first time since May, so the state budget picture looks a little better, according to a report released Friday.
The Nebraska Department of Revenue said net tax revenue topped projections by 2.7 percent last month.
The positive revenue report [..] Read the original article: here.

Schwarzenegger, Palin trade Twitter jabs over 2008 Russia comment, California budget deficit

Schwarzenegger, Palin trade Twitter jabs
SACRAMENTO, Calif. – Flying over Alaska on his way to Asia, California Gov. Arnold Schwarzenegger couldn’t help but take a lighthearted jab at the state’s former governor.
His Twitter message Thursday night said he was “looking everywhere but can’t see Russia from here,” a reference to an infamous remark from … Read more >>.

Summary Box: Wholesale inventories and sales both post better-than-expected gains in July

Summary Box: Wholesale inventories rise in July

STOCKPILES UP: Inventories held by wholesalers increased 1.3 percent in July, the biggest gain since July 2008 and triple what economists had expected.
SALES UP: Sales at the wholesale level rose 0.6 percent, double what had been expected and the first increase after two months of declines.
OUTLOOK: Businesses restocking store …. Source : Summary Box: Wholesale inventories and sales both post better-than-expected gains in July.

Rendell comes to aid of financially troubled capital city that warned of skipping bond payment

Rendell comes to aid of troubled capital city

HARRISBURG, Pa. – Gov. Ed Rendell is working on ways the state can help Pennsylvania’s capital city avoid a rare default on a general obligation bond, a step that could settle worried municipal bond investors and prevent further damage to Harrisburg’s ability to borrow, a top aide said …. Source : Gaea News Network.

Cisco Systems CEO John Chambers received $18.9M in 2010 compensation, up 33 pct from year ago

Cisco CEO Chambers got $18.9M 2010 pay package

NEW YORK – Cisco Systems Inc. CEO John Chambers received about $18.9 million in compensation for the latest fiscal year, a 33 percent increase from last year’s payout due to more generous bonus and stock awards, according to an Associated Press calculation of figures filed with regulators on …. Source : Gaea News Network.

Regulators shut down small bank in Florida; makes 119 US bank failures this year

Regulators close small Florida bank
WASHINGTON – Regulators on Friday shut down a small Florida bank, bringing to 119 the number of U.S. bank failures this year amid mounting loan defaults.

The Federal Deposit Insurance Corp. took over Horizon Bank, based in Bradenton, Fla., with $187.8 million in assets and $164.6 million in deposits. Bank of the … Original source on Gaea Times at : Regulators shut down small bank in Florida; makes 119 US bank failures this year.

Pro Bowl lineman Kevin Mawae retires after 16 seasons, will serve out term with union

Mawae, NFLPA president, retires after 16 seasons

NASHVILLE, Tenn. – The president of the NFL Players Association said he got one offer from a team this year. It came too late, and Kevin Mawae said Friday he decided being with family was more important than his passion to keep playing in the league.
The veteran offensive lineman …. Source article : Pro Bowl lineman Kevin Mawae retires after 16 seasons, will serve out term with union.

Wal-Mart to split merchandising responsibilities among 4 executives _ for now

Wal-Mart to divide merchandising jobs
NEW YORK – Wal-Mart Stores Inc. is splitting the position of chief merchandising officer among four executives.

The decision, which may not be permanent, raises some uncertainty about how the world’s largest retailer will shape its merchandising strategy following the departure of John Fleming. Fleming left in June amid a series of …. Source : Gaea News Network.

General Mills files for arbitration with French dairy company that owns Yoplait brand

General Mills files for arbitration over Yoplait

MINNEAPOLIS – General Mills Inc. has filed for arbitration over a contract issue with the French company from which it has licensed the Yoplait brand for more than three decades.
The food maker said in a regulatory filing that dairy company Sodima sent it a letter on Sept. 3 saying … Original article on : General Mills files for arbitration with French dairy company that owns Yoplait brand.

Evergreen Energy chairman resigns; CEO to take over role, new lead director named

Evergreen Energy chairman resigns; CEO takes role

DENVER – Clean-tech company Evergreen Energy Inc. on Friday said its chairman resigned, eight weeks after being named to the post. The company’s chief executive, Thomas H. Stoner, will take over the role.
William G. Gibson, 61, who was elected by the board in January, was named chairman in July …. Source : Evergreen Energy chairman resigns; CEO to take over role, new lead director named.

It’s hard meets soft, country meets city as NY Fashion Week embraces opposites

Opposites attract at NY Fashion Week
NEW YORK – At Fashion Week as in life, opposites attract.

A yin-yang theme emerged on Friday on the second day of New York Fashion Week as designers turned to a harmonious blend of opposites.
At Rag & Bone, that meant mixing delicate, pretty pieces with the hard-edged style of an adventurer. … Original source on Gaea Times at : It’s hard meets soft, country meets city as NY Fashion Week embraces opposites.

Thomas Guinzburg, who helped found the Paris Review and ran Viking Press, dies at 84

Thomas Guinzburg, former Paris Review editor, dies

NEW YORK – Thomas Guinzburg, who helped found the Paris Review, the celebrated literary journal, and later ran the publisher Viking Press, died Wednesday in New York at the age of 84.
The cause was complications from heart surgery, said his longtime companion, Victoria Anstead.
A Yale graduate and World War …. Original source : Thomas Guinzburg, who helped found the Paris Review and ran Viking Press, dies at 84.

Indo-Russian transport aircraft to fly by 2017

NEW DELHI – The Indo-Russian Multirole Transport Aircraft (MTA), designed to replace India’s AN 32 aircraft, should be flying in about seven years, a Russian official has said. The aircraft would be useful in natural disaster relief missions.

Vladimir A. Belyakov, Deputy Director General of the United Aircraft Company (UAC), told India Strategic (www.indiastrategic.in) after the … Original article on : Indo-Russian transport aircraft to fly by 2017.

Greek prime minister promises corporate tax cut, as thousands march to protest austerity

Greek prime minister outlines economic policy

THESSALONIKI, Greece – Greece’s prime minister has promised to lower some corporate taxes to help revive the debt-plagued country’s shrinking economy, while thousands of protesters marched – mostly peacefully – against the government’s harsh austerity measures.
Prime Minister George Papandreou promised on Saturday that the tax rate on companies’ retained profits …. Read the original article : here.

Benefits of exports should be shared with producers

NEW DELHI – State governments should work in tandem with the centre to ensure that the benefits of exports reach the people at the grassroots.

“There is a need for capacity building of state government officials to enable them to engage in meaningful consultation with the central government to make the foreign trade …. Read the original article : here.

Gold may surge to Rs.22,000 per 10 grams by year-end

NEW DELHI – Gold price may surge to a record Rs.22,000 per 10 grams by the end of this year as uncertainty in the US and European economies forces investors to bank on the precious metal.

During the forthcoming festival season, gold price is likely to hover around Rs.21,000 per 10 grams, according to a …. Read the original article : Gold may surge to Rs.22,000 per 10 grams by year-end.

Swedish vote could end love story with left as center-right bloc seeks historic re-election

Swedish vote could end love story with left

STOCKHOLM – Swedish politics used to be like a long marriage with brief spells of infidelity.
Voters always returned to the long-governing Social Democrats – guardians of the Nordic country’s high-tax welfare state – after short-lived flirts with center-right coalitions.
That love story, it appears, may be coming to an … Original source on Gaea Times at : Swedish vote could end love story with left as center-right bloc seeks historic re-election.

Colorado Senate hopefuls spar in 1st debate over impending expiration of Bush-era tax cuts

Colorado Senate hopefuls spar on Bush-era tax cuts

GRAND JUNCTION, Colo. – Democratic Sen. Michael Bennet said middle class tax cuts scheduled to expire in January should be extended, but he disagreed with his Republican challenger during their first debate Saturday night over tax cuts for the rich.
Bennet said he wasn’t convinced that tax cuts for … Read more : Colorado Senate hopefuls spar in 1st debate over impending expiration of Bush-era tax cuts.

Donald Fehr moves a step closer to becoming NHLPA’s executive director

Fehr closer to becoming NHLPA’s executive director

TORONTO – Donald Fehr is a step closer to becoming the NHL Players’ Association’s executive director.
The union said Saturday it has accepted the recommendation of its search committee and will put Fehr. to a vote among its membership.
Players are expected to vote following individual team meetings during training camp …. Source : Gaea News Network.

At NY Fashion Week, white is the new black _ showing a new optimism among designers

White is the new black at NY Fashion Week
NEW YORK – If fashion is any guide, better days may be ahead.

Designers flocked to an optimistic white on Saturday at New York Fashion Week. It was a far cry from the blacks and grays that have come to dominate the runways.
The look was a softer, summery …. Original article : At NY Fashion Week, white is the new black _ showing a new optimism among designers.

BP’s head of oil and exploration leaving Russian venture to make room for embattled CEO

BP exec leaving board of Russian joint venture

The BP executive running the oil and exploration division embroiled in the disastrous Gulf of Mexico spill is leaving the board of the company’s Russian joint venture.
Andy Inglis is giving up his board seat at TNK-BP to make room for BP PLC’s outgoing CEO Tony Hayward.
BP is making … Read the original article on Gaea Times at : BP’s head of oil and exploration leaving Russian venture to make room for embattled CEO.

Icelandic lawmakers split on prosecuting former leaders for financial crash

Iceland MPs split over financial crisis charges

REYKJAVIK, Iceland – A committee of Icelandic lawmakers split Saturday over whether to recommend an unprecedented prosecution of former leaders for failing to prevent the country’s financial meltdown.
The deadlock means it will be harder for parliament to try former Prime Minister Geir Haarde and three other top officials for …. Original article on Gaea Times at : Icelandic lawmakers split on prosecuting former leaders for financial crash.

Person familiar with union plans say NFLPA handing out voting cards on decertification

AP source: Union considering decertification vote

NEW YORK – The NFL Players Association is handing out voting cards to the players that could lead to decertification of the union.
A person familiar with the union’s plans told The Associated Press on Saturday that players from all 32 teams will be asked to consider decertification, which could prevent … Original article on : Person familiar with union plans say NFLPA handing out voting cards on decertification.

As Oregon state government sheds workers, it foresees rewards for companies that shed workers

Ore. budget outlook: pink slips, business rebates

PORTLAND, Ore. – Oregon’s treasury is so depleted that teachers and state workers are getting pink slips, but the state is nevertheless on course to send millions in tax rebates next year to businesses that have done well through the Great Recession by paring their own payrolls.
One Democratic lawmaker … Read the original article on Gaea Times at : As Oregon state government sheds workers, it foresees rewards for companies that shed workers.

Banning export no solution to illegal iron ore mining: Sharma

Bangalore, Se 11 (IANS) Union Commerce and Industry Minister Anand Sharma Saturday told the Karnataka government that banning iron ore export was not the solution to check illegal mining in the state.

“Just stopping movement from minor ports is not going to help,” Sharma told reporters here commenting on Karnataka government’s July 29 ban on export …. Source : Banning export no solution to illegal iron ore mining: Sharma.

Andhra concerned over impact of Ohio’s decision on IT sector

HYDERABAD – Andhra Pradesh Chief Minister K. Rosaiah is concerned over the impact of the decision of US’ Ohio state, to ban outsourcing to India, on the state’s Information Technology sector.

The chief minister has urged the central government to take up the issue with the United States and ensure that the Indian IT industry and …. Source article : Andhra concerned over impact of Ohio’s decision on IT sector.

Greek unions launch protests before prime minister’s key speech on economy

Greek protesters confront government on economy

THESSALONIKI, Greece – Greece’s prime minister promised Saturday to lower corporate taxes to help revive the debt-plagued country’s shrinking economy, while thousands of protesters marched – mostly peacefully – against the government’s harsh austerity measures.
Greece narrowly avoided bankruptcy in May when European countries and the International Monetary Fund gave it …. Source : Gaea News Network.

Party politics affecting development plans: Tharoor

NEW DELHI – Contending that party politics is adversely affecting implementation of development plans, former minister of state for external affairs Shashi Tharoor Saturday criticised the Kerala government for being partial with Congress sympathisers.

“In Kerala, if a family is sympathetic towards Congress, they will not get a BPL (below poverty line) card,” Tharoor, the …. Original article on Gaea Times at : Party politics affecting development plans: Tharoor.

Weeks before midterm elections, US poverty on track for record gain in 2009 on Obama’s watch

US poverty on track to post record gain in 2009
WASHINGTON – The number of people in the U.S. who are in poverty is on track for a record increase on President Barack Obama’s watch, with the ranks of working-age poor approaching 1960s levels that …. Original article : Weeks before midterm elections, US poverty on track for record gain in 2009 on Obama’s watch.