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.

India’s exports rise 11.5 percent in January

NEW DELHI – India’s merchandise exports grew 11.5 percent to $14.34 billion (Rs.65,920 crore) for the third consecutive month in January, according to data released by the ministry of commerce Tuesday.

The rise for the third straight month in January comes after 13 successive months of decline since October 2008 on account of the global economic …. Source  : India’s exports rise 11.5 percent in January.

Sensex moves up 2 percent in afternoon trade

MUMBAI – A benchmark index for Indian equities further built on its morning gains and was ruling over two percent higher about an hour before end of trade.

Auto stocks were among the key drivers of this rally with many such companies posting handsome February sales figures.
At 2.18 p.m. the 30-scrip sensitive index (Sensex) …. Source  : Sensex moves up 2 percent in afternoon trade.

Consumer Watchdog sues Anthem Blue Cross alleging diminished coverage in policy changes

Consumer group sues insurer over policy changes

LOS ANGELES – Mary Feller’s family of three spends nearly $25,000 a year on health insurance premiums, which is more than they pay on their home’s mortgage in California’s Marin County.
“I think for the first time we’re really scared that we’re going to be without health insurance,” she said. … Read more >>>.

NALCO gets state government nod for new bauxite mine

BHUBANESWAR – Orissa has given its nod for leasing a new bauxite mine in the state’s Koraput district to state-owned National Aluminium Company Ltd (NALCO), an official said Tuesday.

The state government has leased the Potangi bauxite mine to the company and recommended it to the central government for final approval, state Steel and Mines Secretary … Original source on Gaea Times at : NALCO gets state government nod for new bauxite mine.

Switzerland records second straight quarter of economic expansion in last 3 months of 2009

Swiss economy grows 0.7 percent in 4th quarter

GENEVA – The Swiss economy recorded a second consecutive quarter of growth in the last three months of 2009, expanding by 0.7 percent, the government said Tuesday.
The national economics secretariat said the quarterly growth in the October-December period came as exports continued to outpace imports and consumption and … Read more »»».

General Motors to more than triple funding for restructuring at Opel, Vauxhall

GM to triple funding for Opel restructuring

FRANKFURT – General Motors Co. said Tuesday it would more than triple its funding for the turnaround of European units Opel and Vauxhall to euro1.9 billion ($2.6 billion).
General Motors had initially pledged euro600 million and hoped to get some euro2.7 billion in European government funding for the restructuring of …. Original article  : General Motors to more than triple funding for restructuring at Opel, Vauxhall.

Ireland’s largest bank AIB suffers first-ever full-year loss of $3.25 bln as bad debts soar

Irish bank AIB suffers $3.25B loss in 2009

DUBLIN – Ireland’s largest financial institution, Allied Irish Banks PLC, reported its first-ever full-year loss Tuesday as bad debts soared amid the recession.
AIB said it suffered a net loss of euro2.4 billion ($3.25 billion) in 2009, compared to a euro772 million profit the previous year.
The banking group’s income … Read the original article on Gaea Times at : Ireland’s largest bank AIB suffers first-ever full-year loss of $3.25 bln as bad debts soar.

Maruti Suzuki creates February reord in sales

NEW DELHI – Car market leader Maruti Suzuki India Limited sold a total of 96,650 vehicles in February 2010.

This includes 11,885 units of exports. This is the highest ever total monthly sales in the company’s history (previous highest 95,649 units in January 2010).
The company had sold a total of 79,190 vehicles in February 2009.
In February … Read the original article on Gaea Times at : Maruti Suzuki creates February reord in sales.

Consumer agency eyed for the Fed; possible deal could break stalemate on Wall Street regs

Senate talks close in on deal for Wall Street regs
WASHINGTON – More than a year after Lehman Brothers’ collapse set off a financial panic, Senate negotiators appear close to resolving a narrow dispute that was holding up broad legislation to set new rules for Wall Street.
At issue was whether a government consumer watchdog …. Read the original article  : here.

HEALTHBEAT: Inflammation may be key to breaking fat-and-disease connection

Scientists try to break fat-and-disease link

WASHINGTON – What if you could be fat but avoid heart disease or diabetes? Scientists trying to break the fat-and-disease link increasingly say inflammation is the key.
In the quest to prove it, a major study is under way testing whether an anti-inflammatory drug – an old, cheap cousin of aspirin …. Original source  : HEALTHBEAT: Inflammation may be key to breaking fat-and-disease connection.

Obama must win over undecided Dems with revised health overhaul proposal

Obama looks to undecided Dems for health backing
WASHINGTON – A small number of House Democrats who opposed health overhaul legislation on the first go-round may be President Barack Obama’s most important constituency when he unveils a revised proposal on Wednesday.
At least nine of the 39 Democrats who voted “nay” …. Read the original article  : here.

General Motors to recall 1.3 mn cars in North America

DETROIT – General Motors Co will recall 1.3 million cars of its Chevrolet and Pontiac brands from customers across the US, Canada and Mexico, according to news reports.

Problems with the power steering in the Chevrolet compact model Cobalt and several Pontiac models could cause difficulties in manoeuvring the vehicles at low speed, Bloomberg news agency … Original article on : General Motors to recall 1.3 mn cars in North America.

China official: City ‘inconsiderate’ for publicizing beans tainted by toxic pesticide

China official wanted toxic bean case hushed up

BEIJING – The discovery in Chinese markets of tons of beans treated with a highly toxic pesticide has prompted an indignant response from an official responsible for the safety of the produce, despite a public outcry over recent food safety scandals.
One city’s decision to publicize the problem was … Read more >>.

540 MW power plant to start soon: Abhijit Group

RANCHI – A 540 MW thermal power plant of the Abhijit Group will become operational by the end of next year, an official said Tuesday.

The group is setting up two units of the plant in Chandawa block of Latehar district in Jharkhand.
The official said the first unit was coming up at a cost … Read more : 540 MW power plant to start soon: Abhijit Group.

Hyundai sales up 42.8 percent in February

NEW DELHI – India’s second largest car maker Hyundai Motor reported a 42.8 percent increase in total sales last month to 54,617 units as against 38,235 units sold in February 2009.

During February, domestic sales grew 46.1 percent to 31,001 units while exports rose 38.8 percent to 23,616 vehicles.
The sales continue on a strong pitch … Read more »».

Boeing executive to help find investment opportunities in India

WASHINGTON – The US-India Business Council (USIBC) has named Shephard W. (Shep) Hill, a senior Boeing executive, as a director to help provide strategic direction for US and Indian companies seeking bilateral investment opportunities and partnerships.

The trade advocacy association seeking stronger commercial ties with India Monday announced the appointment of Hill, president of Boeing International … Read this article on Gaea Times at : Boeing executive to help find investment opportunities in India.

Senate investigators’ Toyota connections at a glance

Senate investigators’ ties to Toyota
Several senators on the Commerce, Science and Transportation Committee, which is holding a hearing Tuesday to investigate Toyota’s safety issues and recall, have connections to the Japanese automaker.
Here is a look at the committee’s ties to Toyota and other automakers:
-Chairman Jay Rockefeller, D-W.Va.: The Senate’s lead Toyota investigator has … Read more : Senate investigators’ Toyota connections at a glance.

Iraq’s Nouri al-Maliki builds his political future on country’s mega oil deals

Iraq’s oil deals dominate PM election campaign

BASRA – Backed by armed bodyguards, international oil executives have flocked to this southern Iraqi city to survey their potentially lucrative prizes: the fields that it is hoped will one day dramatically increase output of cheap, plentiful crude.
For their companies, the fields that they won the rights to develop …. Source article on Gaea Times at  : Iraq’s Nouri al-Maliki builds his political future on country’s mega oil deals.

Maruti Suzuki sales up 22 percent

NEW DELHI – India’s largest car manufacturer Maruti Suzuki Tuesday reported a 22 percent rise in sales in February to 96,650 vehicles — its best performance till date.

“This is the highest ever total monthly sales in the companys history (previous highest 95,649 units in January 2010),” said a company statement.
The company’s domestic sales during [..] Read the original article: here.

Trinamool, DMK wait for meeting with Congress on fuel price hike

NEW DELHI – Two major constituents of the ruling United Progressive Alliance (UPA), the Trinamool Congress and the DMK, were Tuesday waiting for the outcome of their meeting with the Congress leadership to decide what stand they would take on the fuel price hike.

“The Congress leadership and the finance minister have already announced that the …. Original article  : Trinamool, DMK wait for meeting with Congress on fuel price hike.

Democratic senators seek to block stimulus money from being spent on foreign jobs

Senators seek to block stimulus money for overseas

WASHINGTON – A group of Democratic senators is urging the Obama administration to suspend an economic stimulus program aimed at financing renewable energy, complaining that money is going to projects that are creating jobs in foreign countries.
The four senators, led by Chuck Schumer of New York, wrote to …. Source article  : Democratic senators seek to block stimulus money from being spent on foreign jobs.

Asian stocks rise amid growing hopes of solution to Greek debt crisis; Europe opens down

Asian stocks rise amid Greece hopes; Europe down

HONG KONG – Most Asian stock markets rose Wednesday amid growing hopes of a solution to Greece’s financial crisis. European shares were down modestly.
Major Asian markets added less than 1 percent as the region extended its gains for a fourth straight day. The dollar was little changed against …. Source  : Asian stocks rise amid growing hopes of solution to Greek debt crisis; Europe opens down.

German sportswear company Adidas Q4 net income falls 64 percent to $26 million

Adidas Q4 net income falls 64 pct to $26M
FRANKFURT – German sportswear company Adidas AG said Wednesday its fourth quarter net income declined 64 percent to euro19 million ($26 million) on rising purchasing costs, currency effects and a drop in demand during the downturn.

The Herzogenaurach-based company earned euro54 million in net income during the October-December … Read more >>.

Standard Chartered bank makes full-year profit of $3.38 billion, 7th straight annual record

Standard Chartered makes record annual profit

LONDON – Standard Chartered PLC on Wednesday reported a seventh consecutive record annual profit, of $3.38 billion, as stronger wholesale banking earnings offset an increase in provisions for bad loans and other credit risks.
The bank said net profit rose 4 percent in 2009 from $3.24 billion a year earlier.
Impairment losses …. Source  : Gaea News Network.

Report of the Committee on Comprehensive Regulation for Credit Rating Agencies (CRAs)

The Reserve Bank of India has today placed on its website, the report of the Committee on Comprehensive Regulation of Credit Rating Agencies (rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=584) (Chairman: Dr. K.P. Krishnan) for wider dissemination. The Committee was constituted by the Ministry of Finance at the instance of the High Level Coordination Committee …. Read the original article  : Report of the Committee on Comprehensive Regulation for Credit Rating Agencies (CRAs).

GM says China sales up 51 percent in February on strong demand for Chevrolets, Cadillacs

GM’s China sales up 51 percent in February

SHANGHAI – General Motors said its February vehicle sales in China rose 51 percent from a year earlier on strong demand for Chevrolet and Cadillac models as well as its popular minivans.
The 174,306 vehicles sold by General Motors Co. and its joint ventures in China in February was [..] Read the original article: here.

Senate returns to measure extending business tax breaks, yearlong jobless benefits

Senate returns to business tax break measure
WASHINGTON – After buying time by resolving an impasse over jobless benefits and other programs that had briefly lapsed, the Senate is returning to a $100 billion-plus bill reviving popular tax breaks and extending longer and more generous jobless benefits through the end of the year.
Tuesday night’s …. Original article  : Senate returns to measure extending business tax breaks, yearlong jobless benefits.

Some Republicans dismiss Pentagon study on gays as biased

GOP dismisses military study on gays as biased
WASHINGTON – Some Republicans are dismissing a planned nine-month Pentagon study on gays in the military as biased because it assumes Congress will eventually repeal the 1993 law known as “don’t ask, don’t tell.”
GOP lawmakers are likely to use the argument to try to chip away …. Source  : Some Republicans dismiss Pentagon study on gays as biased.

Dem leaders hope Obama statement will give vital momentum to stalled health care drive

Top Dems looking to Obama for health care momentum
WASHINGTON – Democratic congressional leaders hope President Barack Obama’s unveiling of his final health care package Wednesday will help resuscitate an effort that seemed all but dead until recently.
The president planned to describe his plan at the White House, a day …. Source  : Dem leaders hope Obama statement will give vital momentum to stalled health care drive.

Greece braces for deeper spending cuts, as EU remains tightlipped on rescue plan

Greece braces for deeper spending cuts
ATHENS, Greece – Greece will announce painful new spending cuts Wednesday to lift the country out of a major financial crisis, a day after Prime Minister George Papandreou said the country was in a “state of war” and was fighting for national survival.
The new … Read the original article on Gaea Times at : Greece braces for deeper spending cuts, as EU remains tightlipped on rescue plan.

SC lawmakers consider cutting all services for 26,000 people with disabilities

SC may gut programs for 26,000 disabled residents

COLUMBIA, S.C. – Lawmakers are considering cutting all services for nearly 26,000 people with disabilities as South Carolina tries to plug a $560 million budget hole.
Parents say the proposed cuts to day care programs and other services would force them to give up much-needed jobs to stay home …. Original article  : SC lawmakers consider cutting all services for 26,000 people with disabilities.

Cows to chardonnay: Can dwindling Conn. dairy farms convert to grape-growing and winemaking?

Cows to chardonnay: Can Conn. dairy farms change?

WARREN, Conn. – A winter breeze rustles through the brittle and dormant vines twisting along the hills of Bill Hopkins’ vineyard, the latest transformation of a Connecticut farm that since 1786 has been keeping up with changing agriculture, markets and consumer tastes.
The 100-acre family farm on Lake Waramaug … Read the original article on Gaea Times at : Cows to chardonnay: Can dwindling Conn. dairy farms convert to grape-growing and winemaking?.

Australia’s PM unveils health care overhaul that gives government more control over hospitals

Australia’s PM pledges increased hospital funding

ADELAIDE, Australia – Australia’s prime minister proposed a sweeping overhaul of the nation’s health care system Wednesday that would bring hospitals and primary care under government control and increase annual federal funding by 11 billion Australian dollars ($10 billion).
Prime Minister Kevin Rudd’s proposal follows through on a 2007 election pledge … Original article on : Australia’s PM unveils health care overhaul that gives government more control over hospitals.

Asian stock markets rise amid growing hopes of solution to Greek debt crisis

Asian stocks rise amid hopes of Greece resolution

HONG KONG – Asian stock markets rose Wednesday amid growing hopes of a solution to Greece’s financial crisis.
Major markets added less than 1 percent as the region extended its gains for a fourth straight day. The euro was higher, while oil prices were little changed.
Worries about Greece’s ability … Original source on Gaea Times at : Asian stock markets rise amid growing hopes of solution to Greek debt crisis.

Summary Box: Winter storms hurt clothing stores, but most retail sectors show February gains

Summary Box: A look at consumer spending in Feb.

WINNERS AND LOSERS: Winter storms cut into U.S. clothing sales in February, but e-commerce and in-store sales of luxury goods and consumer electronics rose, according to MasterCard’s SpendingPulse.
WHAT’S AHEAD: Reports from major retailers coming Thursday are expected to show modest sales gains for a third straight month. … Read more : Summary Box: Winter storms hurt clothing stores, but most retail sectors show February gains.

New data: Snowstorms hurt clothing sales, but many sectors gained in February

New data: Feb. retail sales rose in many sectors

NEW YORK – A key data service is reporting that retail sales rose in many sectors in February, compared with the deep lows of early 2009, but last month’s East Coast snowstorms hurt women’s clothing sales.
The latest numbers from MasterCard Advisor’s SpendingPulse show sales rose for foot … Read the original article on Gaea Times at : New data: Snowstorms hurt clothing sales, but many sectors gained in February.

New study estimates US health, other costs from food-borne illnesses are $152 billion

Study: Food-borne illnesses cost US $152 billion

YAKIMA, Wash. – A new report released by a food safety group estimates food-borne illnesses cost the U.S. $152 billion each year in health care and other losses.
Wednesday’s report by the Produce Safety Project, an initiative of the Pew Charitable Trusts, examined government data on all food-borne illnesses with … Original source on Gaea Times at : New study estimates US health, other costs from food-borne illnesses are $152 billion.

Oil hovers below $80 in Asia after mixed US inventory report suggests sluggish crude demand

Oil hovers below $80 on mixed US supplies report

SINGAPORE – Oil prices hovered below $80 a barrel Wednesday in Asia after a crude inventory report gave mixed signs about U.S. demand.
Benchmark crude for April delivery was up 3 cents to $79.71 a barrel at late afternoon Singapore time in electronic trading on the New York … Read more »»».

Snow clearing work begins on Manali-Leh highway

SHIMLA – The snow clearing work on the strategic 475-km National Highway-21 that connects Manali in Himachal Pradesh to Leh in Jammu and Kashmir has started, an official said Wednesday.

The highway has been closed since Dec 10 last year after heavy snowfall.
“The snow clearing work on the Manali-Leh highway started yesterday (Tuesday) from Gulaba … Read more : Snow clearing work begins on Manali-Leh highway.

Sensex up 107 points in early trade

MUMBAI – A benchmark index for Indian equities opened on a firm note and was ruling 107 points higher, about 10 minutes into trade Wednesday.

At 9.12 a.m. the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,778.29 points, was ruling at 16,879.69 points, 107.13 points or 0.64 percent higher than … Original source on Gaea Times at : Sensex up 107 points in early trade.

Stop & Shop operator Ahold reports 8.2 percent fall in 4th quarter profit

Supermarket operator Ahold profit drops in Q4

AMSTERDAM – Royal Ahold NV, the Dutch owner of the Stop & Shop and Giant supermarket chains in the US, reported an 8.2 percent fall in profit for the fourth quarter on Thursday.
The company said sales and margins were hit by deflation.
Net profit was ???267 million ($365 million), compared … Read more : Stop & Shop operator Ahold reports 8.2 percent fall in 4th quarter profit.

Greece to issue new 10-year government bond a day after announcing new austerity cuts

Greece to issue new 10-year bond through 5 banks

ATHENS, Greece – Greece has appointed five banks to handle a new 10-year bond issue that will come due on 19 June 2010.
The country’s Public Debt Management Agency named Barclays Capital, HSBC, National Bank of Greece, Nomura and Piraeus Bank as lead managers for the bond issue.
The …. Source  : Gaea News Network.

World stock markets fall as Fed signals slow recovery, Greece drags on sentiment

World markets fall as Fed report, Greece weigh

HONG KONG – Global stock markets fell Thursday as the U.S. central bank signaled recovery in the world’s largest economy would be slow and anxiety about Greece’s debt crisis weighed on investors.
It was Asia’s first decline after four straight days of gains. The euro, meanwhile, eased following a … Read this article on Gaea Times at : World stock markets fall as Fed signals slow recovery, Greece drags on sentiment.

Official: Greece needs solidarity from Germany, but not seeking direct financial aid

Greece seeks German solidarity but no direct aid

BERLIN – Greece needs a strong vote of confidence from Germany and other European nations but hasn’t sought direct financial aid and believes it can overcome its debt crisis alone, a senior Greek official said Thursday.
Greek Prime Minister George Papandreou is expected in Berlin on Friday to meet … Read more >>.

Oil falls to near $80 in Asia as investors anticipate increased crude demand

Oil falls to near $80 after 2-day jump
SINGAPORE – Oil prices fell to near $80 a barrel Thursday in Asia after a two-day jump fueled by growing investor optimism that global crude demand is recovering.

Benchmark crude for April delivery was down 56 cents to $80.31 a barrel at late afternoon Singapore time in electronic trading … Read the original article on Gaea Times at : Oil falls to near $80 in Asia as investors anticipate increased crude demand.

Brewer Anheuser-Busch InBev sees flat year for beer in 2010 after posting Q4 profit

AB InBev sees flat beer sales
BRUSSELS – The world’s largest brewer and maker of Budweiser reported Thursday a fourth quarter profit of $1.28 billion, helped by cost cuts and price hikes, but said beer sales were stagnant and forecast no improvement in 2010.

Anheuser-Busch InBev SA sold 0.7 percent less beer and soft drinks in 2009 … Original source on Gaea Times at : Brewer Anheuser-Busch InBev sees flat year for beer in 2010 after posting Q4 profit.

Despite scores of deaths, government has been slow to force safer designs for window blinds

Gov’t slow in efforts to force safer window blinds

WASHINGTON – When 3-year-old Brandyn Coppedge became entangled on a window blind cord, it took less than a minute for the toddler to strangle. His father says the safety device designed to prevent such a tragedy had broken, but the window blind was never recalled.
“They need to …. Read the original article  : here.

House to vote on jobs bill awarding tax breaks for businesses that hire the unemployed

House to vote on tax breaks for new hires
WASHINGTON – A measure blending highway funding eagerly sought by the states with tax breaks for companies that hire unemployed workers appeared headed for House passage Thursday as Democrats work to send President Barack Obama the first of several promised election-year jobs bills.
Some Democrats, especially …. Original article on Gaea Times at  : House to vote on jobs bill awarding tax breaks for businesses that hire the unemployed.

Not quite the 51st state, but Washington, DC, getting more freedom under Democratic Congress

Congress slowly loosens its grip on Washington, DC
WASHINGTON – Congresswoman Eleanor Holmes Norton didn’t flinch when comedian Stephen Colbert congratulated her on D.C. becoming a state.
“Not quite,” she replied during a segment on his show not long after President Barack Obama’s election.
Colbert may have been joking, but with Democrats in control, Congress seems …. Read the original article  : Not quite the 51st state, but Washington, DC, getting more freedom under Democratic Congress.

GDF Suez reports little changed full year profit and says well placed to benefit from recovery

GDF Suez makes $6.15B profit in 2009, flat on year

PARIS – French utility GDF Suez SA on Thursday cut a core earnings target after sharply lower gas prices kept 2009 net profit flat.
The company said that excluding contributions by companies sold as part of its 2008 merger and the proceeds of those sales, net profit …. Source article  : GDF Suez reports little changed full year profit and says well placed to benefit from recovery.

Union members occupy Greek Finance Ministry building in Athens to protest new austerity plan

Union activists occupy finance ministry in Athens

ATHENS, Greece – Members of a labor union occupied Greece’s finance ministry building in central Athens early Thursday, hanging a massive banner from the top to protest harsh new austerity measures designed to pull the country out of its financial crisis.
Dozens of union activists holding flags and chanting slogans … Read the original article on Gaea Times at : Union members occupy Greek Finance Ministry building in Athens to protest new austerity plan.

Official: 5 Pakistani road construction workers killed in Afghanistan’s southern Kandahar city

5 Pakistani road workers shot dead in Afghanistan

KANDAHAR, Afghanistan – Five Pakistani road construction workers were shot dead Thursday in Afghanistan’s restive southern city of Kandahar, police said
The workers were traveling to their construction site when two gunmen on motorbikes opened fire on their minivan at about 7 a.m., said Kandahar’s deputy police chief, Mohammad … Read more »».

Bank of England expected to hold interest rates steady, leave asset purchases on hold

Bank of England in “wait and see” mode
LONDON – The Bank of England is expected to keep interest rates at a record low of 0.5 percent and take no further action on purchasing assets to boost the money supply when it announces its monthly monetary policy decision later Thursday.

Economists anticipate the “wait and see” stance … Read more >>.

Sarah Palin working on book that will honor ‘American virtues and strengths’

Palin working on book about virtues and strengths
NEW YORK – Sarah Palin is ready for the next chapter of her publishing career.
Publisher HarperCollins announced Wednesday that the former Alaska governor and Republican vice presidential candidate is working on a “celebration of American virtues and strengths.” The book is currently untitled and no release …. Source article  : Sarah Palin working on book that will honor ‘American virtues and strengths’.

Asian stock markets fall after Fed signals slow recovery; Tokyo down 1 percent

Asia stocks fall after Fed points to slow recovery

HONG KONG – Asian stock markets fell Thursday after the U.S. central bank signaled recovery in the world’s largest economy would be slow.
It was the region’s first decline after four straight days of gains. The euro, meanwhile, held onto most of its big advance overnight after Greece … Original article on : Asian stock markets fall after Fed signals slow recovery; Tokyo down 1 percent.

China announces 7.5 percent increase in defense spending for 2010; smaller boost than expected

China announces 7.5 pct jump in defense spending

BEIJING – China on Thursday announced its smallest increase in defense spending in more than two decades, a likely result of both financial constraints and growing concern over perceptions of Beijing as a regional military threat.
The planned 7.5 percent boost in defense spending in 2010 follows at least …. Original article  : China announces 7.5 percent increase in defense spending for 2010; smaller boost than expected.

Oil hovers below $81 in Asia as investors anticipate increased crude demand

Oil hovers below $81 after 2-day jump
SINGAPORE – Oil prices hovered below $81 a barrel after a two-day jump fueled by growing investor optimism that global crude demand is recovering.

Benchmark crude for April delivery was down 23 cents to $80.64 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. … Original article on : Oil hovers below $81 in Asia as investors anticipate increased crude demand.

Comtech fiscal 2nd-qtr profit rises, but company slashes 2010 forecast

Comtech says 2Q profit climbed, cuts 2010 forecast

MELVILLE, N.Y. – Comtech Telecommunications Corp. said Wednesday that its fiscal second-quarter profit climbed, but the communications equipment maker reported revenue below analyst expectations and cut its first-quarter guidance.
Comtech shares sank $4.68, or 14.2 percent, in after-hours trading, having finished regular trading up 36 cents at $32.93.
For the …. Original source  : Comtech fiscal 2nd-qtr profit rises, but company slashes 2010 forecast.

Top Geithner aide Lee Sachs to step down, another sign economic crisis is easing

Top Geithner aide in Treasury to step down

WASHINGTON – The Treasury Department says a top aide to Treasury Secretary Timothy Geithner is leaving the department next month.
Treasury spokesman Andrew Williams confirmed late Wednesday that Geithner aide Lee Sachs, the department’s point man in the financial crisis, is stepping down.
Sachs is leaving because he views his …. Source article on Gaea Times at  : Top Geithner aide Lee Sachs to step down, another sign economic crisis is easing.

Money Market Operations as on March 03, 2010

… Original article on : Money Market Operations as on March 03, 2010.

Obama’s final push for health care votes could falter in battle over abortion coverage

Abortion coverage dispute divides House Democrats
WASHINGTON – On the other side of the obstacle course that President Barack Obama must clear to get his health care overhaul, a final trapdoor is lurking: the divisive politics of abortion.
The issue pits House Democrats against each other just when Obama is calling on them to unite …. Source article on Gaea Times at  : Obama’s final push for health care votes could falter in battle over abortion coverage.

BAE Systems sells 10 percent stake in Swedish defense company Saab AB for $149 million

BAE Systems sells 10 percent stake in Saab AB

LONDON – Defense contractor BAE Systems PLC said Friday it has sold a 10.25 percent stake in Swedish defense company Saab AB for 1.066 billion kronor ($149 million) as part of an ongoing divestment process.
BAE said the sale to holding company Investor AB of Stockholm represented half … Original source on Gaea Times at : BAE Systems sells 10 percent stake in Swedish defense company Saab AB for $149 million.

Greek prime minister seeks Europe debt pledge as protests grow against austerity

Greek PM seeks EU debt pledge as protests grow
ATHENS, Greece – Greek workers protesting painful state spending cuts closed down hospitals, schools and public transport Friday, as Prime Minister George Papandreou headed for talks with European leaders in search of concrete support through the debt crisis.
The strikes come as … Read more : Greek prime minister seeks Europe debt pledge as protests grow against austerity.

American Amanda Blumenherst, South Korean Lim Ji-na tied for lead at Australian Masters

Blumenherst, Lim tied for lead at Aussie Masters

GOLD COAST, Australia – American Amanda Blumenherst shot a 3-under 69 to maintain a share of the lead with Lim Ji-na of South Korea after two rounds of the ANZ Australian Ladies Masters.
First-round leader Blumenherst and Lim (66) had a two-round total of 9-under 135 after Friday’s second …. Source article on Gaea Times at  : American Amanda Blumenherst, South Korean Lim Ji-na tied for lead at Australian Masters.

German steelmaker Salzgitter reports 2009 pretax loss of $675 million

Salzgitter posts 2009 pretax loss
FRANKFURT – German steelmaker Salzgitter AG says it had a pretax loss last year of ???497 million ($675 million) as a result of the economic downturn.

The company made a pretax profit of just over ???1 billion in 2008.
Salzgitter did not report net income or fourth-quarter results Friday but will release its … Read more : German steelmaker Salzgitter reports 2009 pretax loss of $675 million.

Asian stock markets rise amid optimism ahead US jobs report; Europe opens higher

World stocks rise ahead of US jobs data
HONG KONG – Global stock markets rose Friday amid hopes a key U.S. jobs report would show the world’s largest economy was on track toward a sustainable rebound.

European stocks opened higher after every major Asian market bounced back from declines the day before. Oil prices extended gains above …. Read the original article  : Asian stock markets rise amid optimism ahead US jobs report; Europe opens higher.

Support from influential NYC black leaders may buy time for Gov. Paterson amid scandals

Black leaders’ support may buy time for Paterson

NEW YORK – Embattled New York Gov. David Paterson might have won some time when he received what has become rare support from influential black leaders as he tries to ride out allegations in two scandals that threaten his job and prompted the resignation of three top staffers.
Paterson … Read more : Support from influential NYC black leaders may buy time for Gov. Paterson amid scandals.

With salary cap gone, NFL free agency steps into the unknown

NFL free agency begins without cap
NEW YORK – Into the great unknown.

The NFL has begun the final season of its contract with the players union by eliminating the salary cap. Free agency started Friday with no ceiling on spending for teams, and no floor, either.
Predictions on how free agency without a salary cap will turn … Read the original article on Gaea Times at : With salary cap gone, NFL free agency steps into the unknown.

New SeaBreeze OEM driver software from Ocean Optics

MUMBAI – Initially developed for OEM use in embedded system applications, Ocean Optics (www.OceanOptics.com) has introduced the new SeaBreeze OEM Driver Software. This compact, fast and flexible software saves OEMs time and money with a basic starting platform that can be customized, by developers, for their own unique applications and instruments.

Without the typical Java run … Read more : New SeaBreeze OEM driver software from Ocean Optics.

Australian court finds drug Vioxx doubled heart attack risk, awards man $259,000 in damages

Australian court: Vioxx doubled heart attack risk

SYDNEY – The once-popular painkiller Vioxx doubled the risk of heart attack and was unfit for consumption, an Australian court ruled Friday, awarding a man leading a class action suit against the drug’s maker 287,000 Australian dollars ($259,000) in compensation.
Melbourne Federal Court Judge Christopher Jessup’s decision opens the door … Read more : Australian court finds drug Vioxx doubled heart attack risk, awards man $259,000 in damages.

Oil rises to near $81 in Asia as crude follows stocks higher ahead of key US jobs data

Oil rises to near $81 ahead of key US jobs report

SINGAPORE – Oil prices rose to near $81 a barrel Friday in Asia as crude traders followed equity markets higher ahead of a key U.S. jobs report.
Benchmark crude for April delivery was up 53 cents to $80.74 a barrel at midday Singapore time in electronic … Read this article on Gaea Times at : Oil rises to near $81 in Asia as crude follows stocks higher ahead of key US jobs data.

Toyota holds holds rally with workers, dealers at headquarters amid recall woes

Toyota holds rally with workers, dealers
TOYOTA, Japan – Toyota President Akio Toyoda urged thousands of his employees Friday to work toward a new start and win back customer trust following safety lapses that have battered the world’s biggest carmaker.

“Let’s go with high spirits, have fun and be confident while staying humble,” Toyoda, choking up and …. Original source  : Toyota holds holds rally with workers, dealers at headquarters amid recall woes.

Japan says it won’t comply with possible bluefin tuna export ban ahead of key int’l vote

Japan says it won’t comply with possible tuna ban

TOKYO – Japan will not comply if a ban on international trade in Atlantic bluefin tuna is imposed, a senior official said after the United States threw its support behind the move ahead of a crucial vote on banning exports of the fish that’s prized in Japan … Original article on : Japan says it won’t comply with possible bluefin tuna export ban ahead of key int’l vote.

Premier says China to boost social spending, especially to restive ethnic groups

China boosts social spending, targets minorities
BEIJING – China’s government pushed ahead Friday with plans to strengthen economic growth while dampening social tensions, introducing a budget intended to narrow a rich-poor gap and bring growth to rebellious ethnic areas.
In a speech that is China’s equivalent of a state-of-the-nation address, Premier Wen Jiabao said the … Read more : Premier says China to boost social spending, especially to restive ethnic groups.

China’s Wen promises strong growth in ‘crucial year,’ efforts to promote clean industries

China promises strong growth in ‘crucial year’
BEIJING – China’s Premier Wen Jiabao promised strong growth this year and said the government will combat inflation and risks to banks to keep the rebound in the world’s third-largest economy on track.
In an annual report to China’s legislature, Wen announced a growth …. Source article on Gaea Times at  : China’s Wen promises strong growth in ‘crucial year,’ efforts to promote clean industries.

Asian stocks rise as optimism ahead US jobs report grows, China sets 8 pct growth target

Asian markets gain ahead of US jobs report

HONG KONG – Asian stock markets rose Friday amid hopes a key U.S. jobs report would show the world’s largest economy was on track toward a sustainable rebound.
Every major market was higher as the region bounced back from declines the day before. Oil prices extended gains above $80 …. Read the original article  : Asian stocks rise as optimism ahead US jobs report grows, China sets 8 pct growth target.

Money Market Operations as on March 04, 2010

…. Original source  : Money Market Operations as on March 04, 2010.

Redskins cut 10 players in youth movement on eve of free agency; C Casey Rabach re-signs

Redskins cut 10 players on eve of free agency

ASHBURN, Va. – The Washington Redskins unleashed a 30-something purge Thursday night, making the team significantly younger by cutting 10 players and clearing salary cap space for another aggressive run at free agency.
In the first major moves under the new brain trust of coach Mike Shanahan and …. Source  : Gaea News Network.

Premier says China to target economic growth of 8 percent this year, boost social spending

China expects 8 percent economic growth this year

BEIJING – China said Friday it will target economic growth of 8 percent this year, increase spending on social programs and direct more development money at ethnic areas.
Although in recent years China has always set a goal of 8 percent growth and usually exceeded it, the target shows …. Original article on Gaea Times at  : Premier says China to target economic growth of 8 percent this year, boost social spending.

Floyd Mayweather Jr. sees mental edge over Shane Mosley in May 1 bout

Mayweather thinks he’s in Mosley’s head
LOS ANGELES – Floyd Mayweather Jr. has known he was inside Sugar Shane Mosley’s head from the moment Mayweather’s last fight ended.

That’s when Mosley jumped into the ring last September to challenge Mayweather, who had just demolished Juan Manuel Marquez in his comeback bout from a 19-month layoff. After Mayweather …. Source article on Gaea Times at  : Floyd Mayweather Jr. sees mental edge over Shane Mosley in May 1 bout.

Toyota owners remain loyal despite recalls: Study

WASHINGTON – Despite the 8 million Toyota vehicles recalled since October 2009, its customers are still maintaining high overall satisfaction, a report claims.

Rice University’s Jones Graduate School of Business conducted a survey-based study of a national sample of U.S. vehicle owners.
It was learnt that the level of overall satisfaction …. Source  : Gaea News Network.

China says it will move cautiously on currency, exports need 2-3 years to recover

China says it will move cautiously on currency
BEIJING – China’s central bank governor acknowledged Saturday that Beijing is using its controversial exchange-rate controls to cope with the global economic crisis and said it will be cautious about retreating from the policy.
Gov. Zhou Xiaochuan’s comments come as Beijing faces rising pressure to ease controls …. Source  : China says it will move cautiously on currency, exports need 2-3 years to recover.

Under administration Reader’s Digest UK finds 100 potential buyers

LONDON – The British edition of under administration Reader’s Digest has found nearly 100 potential buyers, with around 30 percent of them being interested in acquiring the whole business, administrators Moore Stephens has said.

The accounting firm, which was appointed after the 72-year-old Reader’s Digest UK collapsed last month, revealed that a deadline of the middle …. Source article on Gaea Times at  : Under administration Reader’s Digest UK finds 100 potential buyers.

Partisanship comes in waves, usually at turning points in nation’s history

Partisanship comes in waves at US turning points
WASHINGTON – The current partisan divide is as stark and nasty as any in recent history and on almost every issue – from health care to energy independence to reviving the economy – there’s little or no effort to find common ground.
But fierce political … Read this article on Gaea Times at : Partisanship comes in waves, usually at turning points in nation’s history.

‘Precious’ dominates Spirit Awards with 5 prizes, wins acting honors for Sidibe, Mo’Nique

‘Precious’ dominates Spirit Awards with 5 prizes

LOS ANGELES – The Harlem drama “Precious” took the best picture prize as it dominated the Spirit Awards, winning four other honors that included trophies for stars Gabourey Sidibe and Mo’Nique.
Jeff Bridges won best actor for the country-music tale “Crazy Heart” during Friday’s event honoring independent film, and Woody … Read more >>.

Amid clashes in Greece, Germany’s Merkel offers no financial support

Merkel: No financial help for Greece
BERLIN – German Chancellor Angela Merkel has avoided giving debt-plagued Greece a commitment of financial assistance, as Athens was rattled by more strikes and violent protests by unions outraged by harsh economic austerity measures.

Greece didn’t ask for financial support, and Germany didn’t offer any in talks Friday between Merkel and …. Source article on Gaea Times at  : Amid clashes in Greece, Germany’s Merkel offers no financial support.

Person familiar with negotiations: Dansby agrees to $43 million, 5-year deal with Dolphins

AP Source: LB Dansby agrees to terms with Dolphins

MIAMI – On the first day of free agency, linebacker Karlos Dansby flew to South Florida and decided to stay.
Dansby agreed to a $43 million, five-year deal with the Miami Dolphins on Friday, a person familiar with the negotiations said.
The person spoke on condition of anonymity because …. Original article on Gaea Times at  : Person familiar with negotiations: Dansby agrees to $43 million, 5-year deal with Dolphins.

Jackson, Wallace help Bobcats send Kobe, Lakers to 2nd straight loss, 98-83

Bobcats hand Lakers 2nd straight loss, 98-83

CHARLOTTE, N.C. – Stephen Jackson scored 21 points, Gerald Wallace added 17 points and 10 rebounds, and the Charlotte Bobcats handed the weary Los Angeles Lakers their second straight loss, 98-83 on Friday night.
With Michael Jordan watching courtside in Charlotte’s first win since he agreed to buy the team, … Original article on : Jackson, Wallace help Bobcats send Kobe, Lakers to 2nd straight loss, 98-83.

Person familiar with negotiations: Falcons reach agreement with free-agent CB Dunta Robinson

AP source: Falcons agree to terms with CB Robinson

ATLANTA – A person familiar with the negotiations said the Atlanta Falcons agreed to terms on a six-year deal Friday with free-agent cornerback Dunta Robinson, who had 13 interceptions in the last six seasons with Houston.
The person spoke on condition of anonymity because no contract had been … Read more >>>.

Sultry Amazons and contemporary Nefertitis heat up Paris’ ready-to-wear week

Paris heats up on day 3 of ready-to-wear week

PARIS – Sultry Amazons in negligees and jodhpurs and modern-day Nefertitis in identical blunt-cut black wigs skulked Paris’ catwalk on Friday, as the French capital’s fall-winter 2010-11 ready-to-wear shows moved into an exhilarating day three.
Christian Dior designer John Galliano was out of the gates with a sexy … Read : Sultry Amazons and contemporary Nefertitis heat up Paris’ ready-to-wear week.

Regulators shut down banks in 4 states, making 26 US bank failures this year

Banks shuttered in Fla., Ill., Md., Utah
CHARLOTTE, N.C. – Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
The Federal Deposit Insurance Corp. … Read more »»».

Six Flags junior noteholders get financing commitment on eve of battle on reorganization plan

Six Flags junior noteholders line up financing

DOVER, Del. – Holders of junior notes issued by Six Flags Inc. have received a $1.1 billion financing commitment that could bolster their fight against the company’s Chapter 11 reorganization plan.
The junior noteholders filed a commitment letter from Goldman Sachs and UBS on Friday in Delaware bankruptcy court, where …. Original article  : Six Flags junior noteholders get financing commitment on eve of battle on reorganization plan.

Federal mediator appointed for Major League Soccer labor talks

Federal mediator appointed for MLS labor talks

NEW YORK – A federal mediator will be at the bargaining table when Major League Soccer’s labor talks resume next week in Washington, D.C.
Management and the MLS Players Union said Friday they have accepted an offer from George H. Cohen, director of the Federal Mediation and Conciliation Service, to …. Source article  : Federal mediator appointed for Major League Soccer labor talks.

GAO: FDA should strengthen oversight of food ingredients, including spices, artificial flavors

GAO: FDA should strengthen ingredient oversight

WASHINGTON – Congressional investigators say the Food and Drug Administration should pay more attention to the safety of some food ingredients, including one involved in a widespread recall this week.
A report released Friday by the Government Accountability Office points out that some spices, artificial flavors and other ingredients are not …. Source article on Gaea Times at  : GAO: FDA should strengthen oversight of food ingredients, including spices, artificial flavors.

Jeff Gordon: NASCAR needs some rivalries, trash-talking to shake out of lethargic start

Gordon: NASCAR needs some rivalries to stir it up

HAMPTON, Ga. – The drivers keep saying how much the racing has improved in the opening month of the NASCAR season, yet there’s all sorts of evidence that defies their optimism.
Television ratings? Down. Empty seats? Plenty. Potholes and errant caution lights? Those, too.
And look who’s won two … Original source on Gaea Times at : Jeff Gordon: NASCAR needs some rivalries, trash-talking to shake out of lethargic start.

Economist predicts improvement in Iowa economy by summer following flat spring

Iowa economist predicts improvement by summer

DES MOINES, Iowa – A leading economist who advises Gov. Chet Culver predicted Friday that Iowa’s economy will stay flat for much of the spring but should perk up by summer.
“I think we’re going to get through this,” said Charles Whiteman, a University of Iowa economist who sits on the … Read more >>.

Recalls: dip mixes, spinach dips, soup, seafood sauce

Recalls: McCormick mixes, spinach dips, soup

The following recalls have been announced:
- McCormick & Company is recalling certain best buy and product codes of McCormick French Onion dip mix, McCormick vegetable dip mix, McCormick onion gravy mix and McCormick corn bread stuffing. They could be contaminated with salmonella, an organism that can cause serious and sometimes … Read more >>.

Mincing Overseas Spice recalls black pepper over salmonella concerns

Mincing Overseas Spice recalls black pepper

DAYTON, N.J. – Mincing Overseas Spice Co. said Friday that it is voluntarily recalling some black pepper products due to possible contamination with salmonella.
The company said the black pepper was sold in 50-, 25- and 20-pound cartons bearing the company’s name and was not distributed at a retail level. The … Original article on : Mincing Overseas Spice recalls black pepper over salmonella concerns.

BigBand Networks names new Ravi Narula as chief financial officer

BigBand Networks names new Ravi Narula as CFO

REDWOOD CITY, Calif. – BigBand Networks Inc. said it has named Ravi Narula as its new chief financial officer, effective May 1.
Narula succeeds Moe Castonguay, who is leaving the company to move to the East Coast.
Narula joined BigBand in 2005 and is currently vice president of finance and …. Source  : Gaea News Network.

Correction: Obama-Travel Promotion story

Correction: Obama-Travel Promotion story
WASHINGTON – In a story March 4 about President Barack Obama signing a travel promotion bill, The Associated Press reported erroneously that the U.S. Travel Association said the U.S. had 2.4 million fewer overseas visitors last year than in 2000, depriving the country of an estimated $509 billion in spending …. Source article on Gaea Times at  : Correction: Obama-Travel Promotion story.

STIMULUS WATCH: Complaints from black, Latino businesses rise as they get fewer stimulus bucks

STIMULUS WATCH: Less stimulus for minority firms

WASHINGTON – The Obama administration is hearing a rising chorus of demands to steer more stimulus money to Hispanic and black businesses.
Those businesses are getting a disproportionately small number of federal stimulus contracts. Latinos own 6.8 percent of businesses but have received only 1.7 percent of federal stimulus contracts …. Read the original article  : STIMULUS WATCH: Complaints from black, Latino businesses rise as they get fewer stimulus bucks.

G.P.Birla Cremated

KOLKATA, INDIA (GaeaTimes.com)- Industrialist Ganga Prasad Birla, who passed away on Friday night, was cremated yesterday in the presence of family members and friends. The last rites of the eminent business tycoon was carried out by his son Chandra Kant Birla in a Kolkata crematorium. G.P.Birla breathed his last late Friday night at his …. Original source  : G.P.Birla Cremated.

UAE’s Dana Gas makes 2 new gas finds in Egypt

UAE’s Dana Gas makes 2 new Egypt finds
CAIRO – Dana Gas said Sunday it had made two new gas discoveries in Egypt, finds that will further boost the United Arab Emirates-based producer’s extensive holdings in the country.

The company said the first discovery in the West El Manzala concession produced 10 million standard cubic feet per …. Source  : UAE’s Dana Gas makes 2 new gas finds in Egypt.

Iran’s defense ministre says Iran now has its own cruise misso;es

Iran launches new cruise missile production line

TEHRAN, Iran – Iran on Sunday launched a new production line of highly accurate, short range cruise missiles capable of evading radar, state TV reported.
The report quoted Iranian defense minister Gen. Ahmad Vahidi as saying that the Nasr 1 (Victory) would be capable of destroying targets up to 1,000 …. Source  : Iran’s defense ministre says Iran now has its own cruise misso;es.

How can you miscount a town of 1? Census tally monitored warily in tiny places

Pop. 1 towns tell Census: Get count right
MONOWI, Neb. – The founding fathers must have chuckled at the impossibility of the job when they etched it into the Constitution: Count every man, woman and child along every back road and big-city avenue in the entire country.

From Key West to Nome, today’s Americans will largely get … Read the original article on Gaea Times at : How can you miscount a town of 1? Census tally monitored warily in tiny places.

Massachusetts Sen. Scott Brown headlines campaign rally in Tucson for John McCain

McCain, Scott Brown appear at Tucson, Ariz., rally

TUCSON, Ariz. – U.S. Sen. John McCain says the race for the Republican nomination for the seat he currently holds should be about fixing the economy, not about political ideology.
At a campaign rally in Tucson on Saturday, McCain enlisted one of the GOP’s rising stars – Massachusetts Sen. …. Original article on Gaea Times at  : Massachusetts Sen. Scott Brown headlines campaign rally in Tucson for John McCain.

Recalls: Honey mustard pretzels

Recalls: Pretzels
The following recall has been announced:

-National Pretzel Co., based in Lancaster, Pa., is voluntarily recalling all Honey Mustard Onion flavored pretzels produced since December 2009. They could be contaminated with salmonella, an organism that can cause serious and sometimes fatal infections in young children and others with weakened immune systems. No illnesses have been … Read this article on Gaea Times at : Recalls: Honey mustard pretzels.

China faces new pressure to let currency rise, gives signs it may allow yuan appreciation

China faces new pressure to let currency rise
BEIJING – China faces mounting pressure from trading partners to loosen currency controls and is giving signs it might raise the value of the yuan to ease strains on its fast-growing economy.
A stronger yuan could help China’s leaders achieve their goal of making the economy more … Read more >>.

Stop & Shop supermarkets: Tentative deals reached with 5 New England labor unions; vote Sunday

Stop & Shop reaches deals with 5 NE labor unions

PROVIDENCE, R.I. – The Stop & Shop supermarkets chain has reached tentative agreements with five labor unions in Connecticut, Rhode Island and Massachusetts.
The unions have scheduled Sunday meetings for votes by their members, who’ve been without contracts since Friday. The unions say they won’t strike unless … Read more : Stop & Shop supermarkets: Tentative deals reached with 5 New England labor unions; vote Sunday.

Initial results show most Icelandic voters reject deal to pay back bank failure debts

Early results: Iceland voters reject debt deal

REYKJAVIK, Iceland – Still furious over the crippling aftermath of the global financial crisis, Iceland’s voters on Saturday resoundingly rejected a $5.3 billion plan to pay off Britain and the Netherlands for debts spawned by the collapse of an Icelandic Internet bank, according to initial results.
Results returned from around [..] Read the original article: here.

Danny Glover asks Oscars nominees to help Ohio factory workers by shunning Hugo Boss suits

Glover: Help Ohio plant, shun Hugo Boss at Oscars

CLEVELAND – Actor and activist Danny Glover is calling on Academy Awards nominees and others in the film industry to not wear Hugo Boss suits at Sunday’s awards ceremony.
The “Lethal Weapon” star, in collaboration with the Workers United labor union, made the request in a letter on …. Original article  : Danny Glover asks Oscars nominees to help Ohio factory workers by shunning Hugo Boss suits.

AIG to receive $231M termination fee if sale of Asian life insurance unit to Prudential fails

AIG to get $231M if sale of Asian unit crumbles

NEW YORK – American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through.
In a filing with the Securities and Exchange Commission late Friday, AIG said the deal, announced March …. Original source  : AIG to receive $231M termination fee if sale of Asian life insurance unit to Prudential fails.

Finance Minister meets the Directors of the RBI Central Board

Photograph (rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2120)
The customary post-Budget meeting of the Central Board of the Reserve Bank of India with the Finance Minister was held in Mumbai today. This time the meeting was held in Mumbai since it is the Platinum Jubilee Year of the RBI and provided an occasion for the …. Read the original article  : here.

AMD reduces pay package for its CEO by 14 percent in 2009 to $4.5 million

AMD reduces pay package for CEO by 14 pct. in 2009

SAN FRANCISCO – Advanced Micro Devices Inc., the world’s No. 2 maker of computer microprocessors, reduced its CEO’s pay package 14 percent last year. The company cut executives’ pay in response to falling sales.
CEO Dirk Meyer received a package that AMD valued at $4.5 million. …. Original source  : AMD reduces pay package for its CEO by 14 percent in 2009 to $4.5 million.

Iceland expected to turn down repaying Holland and UK for internet bank failure

Iceland expected to turn down bank failure repay

REYKJAVIK, Iceland – Still smarting from the crippling aftermath of the global financial crisis, grudging Icelanders were expected Saturday to vote down a $5.3 billion plan to pay off Britain and the Netherlands for debts spawned by the collapse of an Icelandic Internet bank.
The resounding “no” vote expected … Read this article on Gaea Times at : Iceland expected to turn down repaying Holland and UK for internet bank failure.

Today’s partisan bickering in Washington seems genteel compared with many battles of the past

Partisanship’s bad now in Washington? Try again
WASHINGTON – The current partisan divide is as stark and nasty as any in recent history and on almost every issue – from health care to energy independence to reviving the economy – there’s little or no effort to find common ground.
But fierce … Original article on : Today’s partisan bickering in Washington seems genteel compared with many battles of the past.

For Obama, health care and economic messages don’t compete, but jobs-hungry public may differ

A furious health care push _ but what about jobs?
WASHINGTON – President Barack Obama’s furious, final push to get a health care bill passed threatens to shove aside the message he promised would top his list this year: creating jobs.
Even as the White House juggles several enormous …. Source  : For Obama, health care and economic messages don’t compete, but jobs-hungry public may differ.

Report of Working Group to Review the Credit Guarantee Scheme of the Credit Guarantee Fund Trust for MSEs released

Mandatory doubling of the limit for collateral free loans to micro and small enterprises (MSEs) sector to Rs.10 lakh from the present Rs. 5 lakh, increase in the extent of guarantee cover, absorption of guarantee fees for the collateral free loans by CGTMSE subject to certain conditions, lower guarantee …. Original article  : Report of Working Group to Review the Credit Guarantee Scheme of the Credit Guarantee Fund Trust for MSEs released.

Icelanders vote in referendum on deal to repay debts of $5.3 billion to Britain, Netherlands

Icelanders vote on deal to repay $5.3 billion

REYKJAVIK, Iceland – Icelanders are voting in a nationwide referendum on approving the use of taxpayers’ money to repay international debts.
Opinion polls suggest that a majority of Icelanders will vote “no” on Saturday to the $5.3 billion deal to compensate Britain and the Netherlands for deposits lost in … Read this article on Gaea Times at : Icelanders vote in referendum on deal to repay debts of $5.3 billion to Britain, Netherlands.

Facing election-year politics, Obama pitches health overhaul that GOP says must start anew

Obama turns up the heat for health care overhaul
WASHINGTON – Facing a tough political environment, President Barack Obama on Saturday turned up the heat for the health care overhaul that has been his top priority for a year yet has not been passed by Congress.
The president used his weekly radio [..] Read the original article: here.