EU finance chief in Athens for talks on Greece’s austerity plan amid reports of rescue package

EU, Greece discuss more cuts amid bailout reports

ATHENS, Greece – The EU and Greece negotiated Monday over making more painful budget cuts amid reports that fellow European nations, like France and Germany, are preparing a rescue package for the indebted country.
Europe’s financial affairs chief Olli Rehn was in Athens to meet Finance Minister George Papaconstantinou …. Original article on Gaea Times at  : EU finance chief in Athens for talks on Greece’s austerity plan amid reports of rescue package.

Vivendi 4th-quarter loss narrows to $1.3 billion on flat sales as financial charges diminish

Vivendi 4th-quarter net loss narrows 32 pct

PARIS – Vivendi SA said Monday its net loss narrowed by 32 percent in the fourth quarter due to lower financial charges, even though it made a ???550 million ($746 million) provision to cover possible fines from a U.S. class action suit brought by shareholders.
The French media and entertainment … Read this article on Gaea Times at : Vivendi 4th-quarter loss narrows to $1.3 billion on flat sales as financial charges diminish.

India urged to repatriate undocumented Indians

JEDDAH – Prime Minister Manmohan Singh has been urged to ensure the repatriation of Indians who are living without legal documents here in Saudi Arabia.

A memorandum presented to Manmohan Singh by the editor of a Gulf-based daily has called New Delhi to take immediate action to repatriate undocumented Indians living under the Kandara Bridge in … Read : India urged to repatriate undocumented Indians.

German chancellor Merkel reiterates opposition to bailing out Greece

Germany’s Merkel opposed to Greek bailout
BERLIN – Germany’s chancellor says she is opposed to EU countries bailing out fellow eurozone member Greece.

Chancellor Angela Merkel says the best help for Greece now is to make sure the government in Athens does its homework by reducing its spending and deficit.
“We have a contract which rules out the … Read this article on Gaea Times at : German chancellor Merkel reiterates opposition to bailing out Greece.

HSBC Holdings PLC, Europe’s largest bank, reports full-year profit up 2 pct to $5.8 billion

HSBC 2009 profit rises 2 pct to $5.8 billion

LONDON – HSBC Holdings PLC, Europe’s largest bank, reported Monday that full-year profit rose 2 percent as sharply lower operating costs helped offset an increase in loan impairment charges.
For the year ending Dec. 31, the company made an after-tax profit of $5.8 billion compared to $5.7 billion … Original article on : HSBC Holdings PLC, Europe’s largest bank, reports full-year profit up 2 pct to $5.8 billion.

Himachal packaging units to go on strike

SHIMLA – More than 200 packaging units based in Himachal Pradesh will go on strike for a week to protest the rise in prices of raw material used for making corrugated boxes, industry leaders said Monday.

“We have decided to go on strike from March 8 against the frequent rise in prices of raw material,” Corrugated …. Original article on Gaea Times at  : Himachal packaging units to go on strike.

UK insurer Prudential confirms “advanced talks” on buying AIG’s Asian operations

Prudential close to buying AIG’s Asia unit

LONDON – British insurer Prudential PLC said Monday it was in advanced talks to buy the Asian operations of U.S. insurer American International Group Inc.
Trading in company shares was suspended at 08:00 GMT (03:00 EST) at Prudential’s request, pending an announcement.
Prudential said the possible acquisition of AIA Group Ltd. … Original article on : UK insurer Prudential confirms “advanced talks” on buying AIG’s Asian operations.

Teen worker taking out garbage behind NY doughnut shop falls into uncovered sewage pit, dies

NY teen dumping garbage falls in sewage pit, dies

SMITHTOWN, N.Y. – A teenage worker taking out the garbage at a doughnut shop on Sunday night fell into a sewage pit and died, police said.
Amiri Zeqiri, 17, slipped into an open cesspool behind a Dunkin’ Donuts in Smithtown, about 40 miles east of New York City, …. Original article on Gaea Times at  : Teen worker taking out garbage behind NY doughnut shop falls into uncovered sewage pit, dies.

India to grow 9-10 percent for 25 years, says PM

RIYADH – India will grow at the rate of 9 to 10 percent for the next 25 years, Prime Minister Manmohan Singh said here Monday.

Despite the economic slowdown, we hope to achieve a growth rate of 7.5 percent in the current financial year, the economist-turned-prime minister told the Majlis-ash-Shura, the Saudi parliament.
In the next …. Source article on Gaea Times at  : India to grow 9-10 percent for 25 years, says PM.

Vehicular strike against fuel price hike in Tripura Tuesday

AGARTALA – The frontal organisations of the Communist Party of India-Marxist (CPI-M) Monday called for a one-day vehicular shutdown in Tripura Tuesday to denounce the hike in prices of transport fuel.

“The union budget had raised central excise duty on fuel,” Centre of Indian Trade Unions (CITU) Tripura unit general secretary Pijush Nag told reporters.
The …. Original article on Gaea Times at  : Vehicular strike against fuel price hike in Tripura Tuesday.

TVS Motor logs 31 percent sales growth in February

CHENNAI – Two-wheeler major TVS Motor Co has clocked a 31 percent increase in sales in February compared to the corresponding period in 2009.

The company logged a total two-wheeler sales of 140,544 units (domestic 121,403 units, exports 19,141 units) last month as against 107,301 units (domestic 90,718 units, exports 16,583 units) in February 2009.
The … Original source on Gaea Times at : TVS Motor logs 31 percent sales growth in February.

Toyota president visiting China to talk about quality; reflects importance of huge market

Toyota chief visits China amid recall woes

BEIJING – Toyota President Akio Toyoda’s visit to China to talk about his company’s quality problems reflects the fast-growing Chinese market’s importance to automakers as they struggle with weak global sales.
Toyoda was due to speak at a news conference Monday evening in Beijing, the company said, in his second … Original source on Gaea Times at : Toyota president visiting China to talk about quality; reflects importance of huge market.

2,000 federal transportation workers to be furloughed due to Senate legislative impasse

Senate impasse puts federal employees out of work

WASHINGTON – Two thousand federal transportation workers will be furloughed without pay on Monday, and the Obama administration said they have a Kentucky senator to blame for it.
Federal reimbursements to states for highway programs will also be halted, the Transportation Department said in a statement late Sunday. The … Read the original article on Gaea Times at : 2,000 federal transportation workers to be furloughed due to Senate legislative impasse.

Stage set for India Aviation 2010

HYDERABAD – India’s international exhibition and conference on civil aviation, India Aviation 2010, begins here Wednesday.

A Who’s Who of aviation sector will be there at the second edition of the expo, jointly organised by the civil aviation ministry and the Federation of Indian Chambers of Commerce and Industry (FICCI).
The five-day event (March 3-7) at …. Original source  : Stage set for India Aviation 2010.

Oil rises above $80 in Asia as traders eye regional stock market gains

Oil rises above $80 as regional stocks gain

SINGAPORE – Oil prices rose above $80 a barrel Monday in Asia as crude traders followed regional stock markets higher.
Benchmark crude for April delivery was up 52 cents to $80.18 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract …. Source  : Gaea News Network.

Trinidad and Tobago seeks Indian investment as gateway to Latin America

Port-of-SPAIN – Trinidad and Tobago has invited India to invest in the country, saying that the Caribbean nation is a fertile market as it provides a gateway to Latin America.

“T&T is not just a market, it is a fertile spot for investment and it is a gateway to Latin America. India has a lot to …. Source  : Trinidad and Tobago seeks Indian investment as gateway to Latin America.

Asian stock markets extend gains as China manufacturing grows albeit at slower pace

Asian stock markets gain for 2nd day
HONG KONG – Asian stock markets advanced Monday after China said manufacturing grew at a slower pace last month, easing worries the government would accelerate its measures to cool the world’s third-largest economy.

Every major market was higher as the region posted its second day of gains. Crude oil prices …. Original article on Gaea Times at  : Asian stock markets extend gains as China manufacturing grows albeit at slower pace.

Mahan beats Fowler by stroke at Phoenix Open in 1-2 Oklahoma State finish

Mahan edges Fowler to win Phoenix Open
SCOTTSDALE, Ariz. – Hunter Mahan and Rickie Fowler both came out of Oklahoma State with big expectations. There, the similarities end.

Mahan is reserved and unassuming, Fowler tends toward the flamboyant.
The quiet one prevailed, barely, at the Phoenix Open.
Mahan defeated the younger Fowler by a stroke on Sunday for his … Read the original article on Gaea Times at : Mahan beats Fowler by stroke at Phoenix Open in 1-2 Oklahoma State finish.

German drug maker Merck KGaA to buy US biotech equipment maker Millipore for $6B plus debt

Germany’s Merck buying Millipore for $6B plus debt

BILLERICA, Mass. – Germany’s Merck KGaA said Sunday that it will pay $6 billion in cash to buy U.S. biotech equipment maker Millipore Corp. in a move to expand its presence beyond drugs and chemicals and into the life science sector.
The deal ends more than a week of … Read more >>>.

Report: German drug maker Merck KGaA to buy biotech-equipment maker Millipore for $7.2 billion

Report: Germany’s Merck buying Millipore for $7.2B

German pharmaceutical company Merck KGaA will buy U.S. biotech equipment maker Millipore Corp. in a deal valued at $7.2 billion including debt, according to media reports Sunday.
Speculation about an acquisition of the life sciences company, which supplies tests and equipment to the biotechnology industry, has swirled since reports last …. Original article on Gaea Times at  : Report: German drug maker Merck KGaA to buy biotech-equipment maker Millipore for $7.2 billion.