China passenger car sales up 55 percent from year earlier in February, but growth slows

China passenger car sales up 55 percent in Feb

SHANGHAI – China’s passenger car sales climbed 55 percent from a year earlier in Feburary, despite a long national holiday, on strong demand for smaller cars and sport utility vehicles, an industry group reported Tuesday.
Sales of cars, commercial vehicles and SUVs rose to 942,900 units, while sales …. Read the original article  : China passenger car sales up 55 percent from year earlier in February, but growth slows.

German carmaker Audi 2009 net income down 39 percent to $1.8 billion

Audi ‘09 net income down 39 pct to $1.8 billion

FRANKFURT – German carmaker Audi AG says its 2009 net income fell 39 percent to euro1.35 billion ($1.8 billion) as the economic downturn cut demand for its cars.
The Ingolstadt-based company earned euro2.2 billion in 2008.
Audi said Tuesday revenue fell 13 percent to nearly euro30 billion from …. Original source  : German carmaker Audi 2009 net income down 39 percent to $1.8 billion.

Syrian official says his country wants to develop nuclear energy, echoing Israeli statement

Syria wants to develop nuclear energy
PARIS – A senior Syrian official says his country would like to pursue nuclear power to meet growing energy needs.

Deputy Foreign Minister Faysal Mekdad says “the peaceful application of nuclear energy should not be monopolized by the few that own this technology but should be available to all.”
He says Syria … Read the original article on Gaea Times at : Syrian official says his country wants to develop nuclear energy, echoing Israeli statement.

Most Asian stock markets up slightly after lackluster US finish; Europe slips

World markets mixed after lackluster US finish

HONG KONG – Most Asian markets rose slightly Tuesday, but trading was subdued as investors awaited more clues about the health of the world economy following big gains the day before. European shares slipped in early trade.
A number of Asian markets fluctuated in line with Wall Street’s mixed finish. …. Source article on Gaea Times at  : Most Asian stock markets up slightly after lackluster US finish; Europe slips.

China warns US against selling F-16s to Taiwan

China warns US against selling F-16s to Taiwan

BEIJING – China on Tuesday warned the United States against any future arms sales to Taiwan, including F-16 fighter jets the island has been pushing for in hopes of upgrading its air defense capabilities.
Foreign Ministry spokesman Qin Gang said China is firmly opposed to U.S. sales of weapons …. Source  : China warns US against selling F-16s to Taiwan.

EADS reports loss on cost overruns for military and commercial planes; outlook clearing up

EADS makes loss but says visibility improving

PARIS – Airbus parent company EADS NV reported Tuesday that spiraling costs on its military transport plane and its A380 superjumbo led to losses in the fourth quarter and full year but said its outlook visibility was improving.
Paris-based European Aeronautic Defence & Space Co. said Tuesday that it lost … Read more : EADS reports loss on cost overruns for military and commercial planes; outlook clearing up.

Russian steelmaker Severstal’s net loss narrows to $162 million in Q4, sees improvements

Severstal posts $162 mln net loss in Q4
MOSCOW – Russia’s largest steelmaker Severstal on Tuesday posted a $162 million net loss in the fourth quarter of 2009 but signalled confidence in the year ahead.

Severstal’s loss compares to a larger $1.2 billion loss in the year-earlier quarter, when the global economic downturn was at its most … Read : Russian steelmaker Severstal’s net loss narrows to $162 million in Q4, sees improvements.

Senate to act on unemployment insurance, tax breaks for individuals and businesses

Senate to take up unemployment insurance extension
WASHINGTON – Legislation extending unemployment insurance for the long-term jobless faces a key test vote in the Senate, its momentum helped by about 60 popular tax breaks for individuals and businesses that expired at the end of last year.
The measure also prevents doctors from absorbing a crippling …. Source article on Gaea Times at  : Senate to act on unemployment insurance, tax breaks for individuals and businesses.

Bank Of Rajasthan: SEBI Imposes Ban

MUMBAI, INDIA (GaeaTimes.com)- In a move that has created a sensation in the banking sector in India, Sebi, the Stock market regulator has imposed ban on the 100 entities linked to the Bank of Rajasthan. The entities as well as the promoters of this bank, the Tayal family can no longer take part …. Original article  : Bank Of Rajasthan: SEBI Imposes Ban.

German mail, logistics company Deutsche Post 4th quarter net loss narrows to $385 million

Deutsche Post Q4 net loss narrows to $385 million

FRANKFURT – German mail and logistics company Deutsche Post AG said Tuesday its net loss for the fourth quarter narrowed to ???283 million ($385 million) largely because of a cost savings program and better management of its U.S. express division.
Deutsche Post, which owns express carrier DHL, lost [..] Read the original article: here.

China legislature to focus on improving social safety net, more equitable economic development

China vows to improve social safety net
BEIJING – China’s top lawmaker said Tuesday that legislative priorities this year would focus on improving social security and fostering more equitable economic development, but he rejected calls to open up the political system.

Uneven economic growth, skyrocketing home prices, limited and expensive medical care, and sparse pension plans have …. Source article on Gaea Times at  : China legislature to focus on improving social safety net, more equitable economic development.

EADS books fourth quarter net loss after A400M charges, sees stable revenue in 2010

EADS takes hit for A400M in fourth quarter

PARIS – Airbus parent company EADS NV said Tuesday that provisions for its military transport plane and its A380 superjumbo led to losses in the fourth quarter and full year.
Paris-based European Aeronautic Defence & Space Co. said Tuesday that it lost ???1.05 billion ($1.44 billion) in the three … Read more >>.

JetBlue Airlines Special Offer

NEW YORK (GaeaTimes.com)- New York based airlines, JetBlue has churned out an exclusive offer for its customers that it thinks will fetch good response. The airline is offering a limited period $10 fare on some of its flights for Tuesday as well as Wednesday. This offer is for celebrating the airline’s 10th anniversary. …. Source  : JetBlue Airlines Special Offer.

Merck, Frontline maker Sanofi-Aventis uniting animal medicine businesses into world’s largest

Merck, Sanofi combining animal medicine businesses

TRENTON, N.J. – Two of the world’s biggest pharmaceutical companies said Tuesday they are uniting their animal health businesses in a deal to become the top dog in the veterinary industry.
Merck & Co. and France’s Sanofi-Aventis SA said they’ll jointly own the combined business, which will have a share of …. Original article  : Merck, Frontline maker Sanofi-Aventis uniting animal medicine businesses into world’s largest.

Israel to tell international conference that it wants to develop nuclear power

Israel wants to develop nuclear energy
JERUSALEM – Israel wants to build a nuclear power plant, Israeli officials said Tuesday, a move that could bring new attention to the country’s secretive nuclear activities.

Israel’s national infrastructure minister, Uzi Landau, was to publicly announce the idea Tuesday at an international nuclear energy conference in Paris.
“Building a nuclear reactor … Read more >>>.

Asian stock markets narrowly mixed after lackluster US finish; oil drifts toward $81

Asian stocks mixed after lackluster US finish

HONG KONG – Asian stocks were mixed Tuesday, taking a breather after sharp gains the day before as investors awaited more clues about the health of the world economy.
A number of markets were little changed, fluctuating in line with Wall Street’s mixed finish. Oil prices fell modestly, while the …. Original source  : Asian stock markets narrowly mixed after lackluster US finish; oil drifts toward $81.

China tries to ease US concern over impact of debt holdings, saying matter not political

China: US assets should not be ‘politicized’

BEIJING – An official in charge of China’s foreign reserves tried to ease American concern Tuesday about the political impact of its huge holdings of U.S. government debt and indicated Beijing has no plans for a big increase in its gold stockpile.
“This is a purely market-driven investment behavior. I …. Source article on Gaea Times at  : China tries to ease US concern over impact of debt holdings, saying matter not political.

General Growth says Fairholme and Pershing Square offer $3.93 billion investment

General Growth gets offer of $3.93B investment

CHICAGO – Two major investors in General Growth Properties are joining Brookfield Asset Management in offering to inject a combined $6.5 billion in fresh funds into the shopping mall operator to help it emerge from bankruptcy protection.
General Growth said in a statement late Monday that its board is weighing … Original article on : General Growth says Fairholme and Pershing Square offer $3.93 billion investment.

Money Market Operations as on March 08, 2010

…. Original article  : Money Market Operations as on March 08, 2010.

Captain Morgan rum no longer welcome as sponsor of NYC’s Puerto Rican Day Parade

Captain Morgan booted from NYC Puerto Rican parade

NEW YORK – Captain Morgan rum is no longer welcome as a sponsor of the National Puerto Rican Day parade in New York City.
Parade organizers say they’ve ended their relationship with the rum maker and U.K.-based parent company Diageo (dee-AH’-gee-oh) PLC over plans to move production of Captain …. Read the original article  : here.