Business News – Weekly Newsletter for March 8-15, 2010
Monday, March 15, 2010
Media summit in Abu Dhabi highlights efforts by Dubai’s oil-rich neighbor to boost its clout
Abu Dhabi pumps oil riches into media projects
ABU DHABI, United Arab Emirates – With an economy based on pumping oil and landmarks that include one of the Mideast’s grandest mosques, buttoned-down Abu Dhabi has little obvious in common with freewheeling media magnets like Hollywood or midtown Manhattan.
This week, the Arab emirate is hoping the world …. Original source : Media summit in Abu Dhabi highlights efforts by Dubai’s oil-rich neighbor to boost its clout.
Oil rises above $82 in Asia, extending Friday’s gains as global economy shows improvement
Oil rises above $82, extending Friday’s gains
SINGAPORE – Oil prices rose above $82 a barrel Monday in Asia, extending gains from Friday amid signs the global economy may be improving.
Benchmark crude for April delivery was up 67 cents to $82.17 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile … Read this article on Gaea Times at : Oil rises above $82 in Asia, extending Friday’s gains as global economy shows improvement.
With outcome of health care reform uncertain, President Obama to appeal for public support
Obama to appeal for public support on health care
WASHINGTON – With the fate of his signature legislative initiative far from certain, President Barack Obama is taking his last-ditch push for health care reform on the road.
In a speech Monday in Philadelphia, Obama will try to persuade the public to back his … Read more »».
Asian stock markets gain as US jobs report boosts recovery hopes; Europe opens higher
World stocks up as US job data lift recovery hopes
HONG KONG – World stock markets gained Monday as a better-than-expected report about the U.S. job market lifted confidence in the economic recovery.
Major Asian bourses added as much as 2 percent in the region’s second day higher. The euro got a boost after France voiced support … Read more : Asian stock markets gain as US jobs report boosts recovery hopes; Europe opens higher.
Cities not on track with California’s plan for high-speed rail system
Cities not on track with Calif high-speed rail
BUENA PARK, Calif. – Mayor Art Brown spent years pushing for a commuter train station combined with nearby housing in his community. But as townhouses are being finished around the $14 million Metrolink station, he’s facing the prospect that California’s high-speed rail line may plow right …. Read the original article : Cities not on track with California’s plan for high-speed rail system.
Money Market Operations as on March 6, 2010
…. Source : Money Market Operations as on March 6, 2010.
Moral of the story at Oklahoma Capitol: Conservatives say colleagues can’t legislate morality
Okla. conservatives debate divorce legislation
OKLAHOMA CITY – Touching on a sensitive issue among conservatives nationwide, the Republican-controlled Oklahoma Legislature is embroiled in a dispute over whether lawmakers should remain focused on the state’s budget problems and other fiscal priorities or delve into family issues, especially the state’s chronically high divorce rate.
Republican members proposed three pieces … Read : Moral of the story at Oklahoma Capitol: Conservatives say colleagues can’t legislate morality.
Federal regulators begin unprecedented set of hearings on competition in US agriculture system
Federal regulators launch probe of big agriculture
ST. LOUIS – Some Obama administration officials have made clear their unease with the increasing control a handful of corporations have over the nation’s food supply, and this week in Iowa they could show whether they are serious about changing the system.
The first joint workshops on agriculture by regulators …. Original article on Gaea Times at : Federal regulators begin unprecedented set of hearings on competition in US agriculture system.
Israel lets West Bank settlement build 112 new apartments despite slowdown pledge
Israel OKs new settlement work despite slowdown
JERUSALEM – Israel authorized the construction of 112 new apartments in the West Bank despite a pledge to slowdown settlement building, the government disclosed Monday – a decision that enraged the Palestinians a day after they reluctantly agreed to resume peace talks.
Word of the new construction in the Beitar … Original source on Gaea Times at : Israel lets West Bank settlement build 112 new apartments despite slowdown pledge.
Israel lets West Bank settlement build 112 new apartments despite slowdown
Israel OKs 112 new apartments in settlement
JERUSALEM – Defense Minister Ehud Barak authorized a West Bank settlement to build 112 new apartments despite Israel’s settlement slowdown, his ministry confirmed Monday.
Barak says the new construction in the Beitar Illit settlement is necessary because of safety issues.
The 10-month settlement slowdown declared in late November was to have … Read this article on Gaea Times at : Israel lets West Bank settlement build 112 new apartments despite slowdown.
South Korean finance minister says still too early for central bank to raise interest rate
SKorean finance chief warns against rate increase
SEOUL, South Korea – South Korea’s finance minister warned Monday the country’s economic recovery remains too fragile to withstand an increase in borrowing costs from a record low, cautioning the central bank just days ahead of a rate-setting policy meeting.
“It is the view of the Korean government that we … Read more >>>.
‘Hurt Locker’ earns best-picture Oscar; Bigelow wins directing prize
‘Hurt Locker’ earns best-picture Academy Award
LOS ANGELES – The Iraq War drama “The Hurt Locker” won best picture and five other prizes Sunday at the Academy Awards, its haul including best director for Kathryn Bigelow.
Bigelow is the first woman in the 82-year history of the Oscars to earn Hollywood’s top prize for filmmakers.
“There’s no other …. Source : Gaea News Network.
Oil rises to near $82 in Asia, extending Friday’s gains as global economy shows improvement
Oil rises to near $82, extending Friday’s gains
SINGAPORE – Oil prices rose to near $82 a barrel Monday in Asia, extending gains from Friday amid signs the global economy may be improving.
Benchmark crude for April delivery was up 45 cents to $81.95 a barrel at midday Singapore time in electronic trading on the New York … Read this article on Gaea Times at : Oil rises to near $82 in Asia, extending Friday’s gains as global economy shows improvement.
Asian stock markets gain as US jobs report boosts recovery hopes; Tokyo up nearly 2 pct
Asia stocks up as US jobs data lift recovery hopes
HONG KONG – Asian stocks gained Monday as a better-than-expected report about the U.S. job market lifted confidence in the economic recovery.
Major markets added as much as 2 percent in the region’s second day higher. The euro got a boost after France voiced support for debt-laden … Read the original article on Gaea Times at : Asian stock markets gain as US jobs report boosts recovery hopes; Tokyo up nearly 2 pct.
Money Market Operations as on March 05, 2010
[..] Read the original article: here.
‘Precious’ co-star Mo’Nique, ‘Basterds’ co-star Waltz win supporting-acting Oscars
Mo’Nique, Waltz win supporting-acting Oscars
LOS ANGELES – Villainous roles snatched the supporting-acting prizes Sunday at the Academy Awards: “Precious” co-star Mo’Nique as a contemptible mother and “Inglourious Basterds” co-star Christoph Waltz as a sociable Nazi fiend.
Both performers capped remarkable years, Mo’Nique startling fans with dramatic depths previously unsuspected in the actress known for lowbrow comedy … Read : ‘Precious’ co-star Mo’Nique, ‘Basterds’ co-star Waltz win supporting-acting Oscars.
The old dilemma plays out at Paris fashion week: Practical vs. extravagant garments
In Paris: Practical clothes vs. crazy ones
PARIS – Sober workaday chic and theatrical extravagance battled for the hearts and minds of the fashion glitteratti on Sunday, day five of Paris’ marathon fall-winter 2010-11 ready-to-wear displays.
Celine designer Phoebe Philo – a critical darling whose return to fashion after a yearslong hiatus was the event of last … Original article on : The old dilemma plays out at Paris fashion week: Practical vs. extravagant garments.
Kansas State and basketball coach Frank Martin reach agreement on contract extension
Martin agrees to contract extension with K-State
KANSAS CITY, Mo. – Frank Martin’s grandmother sat in a small room for 12 hours a day and sewed. His uncle worked the docks in the hot Miami sun. His grandfather died of a heart attack while helping the family escape communist rule.
On Sunday, the son of impoverished Cuban … Read more >>>.
Workers OK Stop & Shop agreement, boosting wages, maintaining pension, health benefits
Supermarket workers approve Stop & Shop contract
HARTFORD, Conn. – Supermarket workers at Stop & Shop in southern New England have ratified a contract that ends weeks of difficult negotiations over wages and benefits.
Local 328 secretary-treasurer Jim Riley says members of five locals of the United Food and Commercial Workers overwhelmingly approved the contract in voice …. Source article : Workers OK Stop & Shop agreement, boosting wages, maintaining pension, health benefits.
Lawmakers overcome budget hurdle for 2010, but daunting task remains for next year’s budget
Budget outlook for 2011 remains bleak
OKLAHOMA CITY – Despite a last-minute maneuver by Senate Democrats that threatened to derail a plan to plug a massive hole in Oklahoma’s budget this year, an agreement was worked out that sent the budget bills to Gov. Brad Henry, who signed the package late last week.
Now, an even more … Read : Lawmakers overcome budget hurdle for 2010, but daunting task remains for next year’s budget.
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.
German power company E.On 2009 net income rises sharply to $11.4 billion
E.On 2009 net income up sharply to $11.4 billion
FRANKFURT – Germany energy company E.On AG said Wednesday that 2009 net income rose sharply to euro8.4 billion ($11.4 billion) partly as a result of the disposal of assets.
E.On, based in Duesseldorf, earned euro1.3 billion in 2008. Revenue fell 6 percent to euro82 billion in 2009 from … Read more »».
British court to rule on Boris Berezovsky’s libel claim against Russian broadcaster
UK court to rule on Russian tycoon’s libel claim
LONDON – Britain’s High Court is due to rule on a libel claim brought by self-exiled Russian oligarch Boris Berezovsky against a Kremlin-owned broadcaster.
The 63-year-old tycoon sued the All-Russian State Television and Radio Broadcasting Company (RTR) for a show that accused him of masterminding the death of … Read more >>.
Sequent Energy Management President Douglas Schantz Found dead
HOUSTON (GaeaTimes.com) — The body of Douglas Schantz, the President of Sequent Energy Management has been found in the Mississippi River on Tuesday afternoon. Schantz, who was missing since Monday morning is believed to be drowned as a result of being over drunk.
Schantz, a top executive of a Houston energy company was last seen leaving … Read the original article on Gaea Times at : Sequent Energy Management President Douglas Schantz Found dead.
UK PM Brown says government budget to be published in 2 weeks, paving way for election
UK budget due in 2 weeks, paving way for election
LONDON – British Prime Minister Gordon Brown said Wednesday that his government will lay out its budget plans on March 24, paving the way for a national election.
The election must be held by early June at the latest, but the budget date suggests it will be … Read more »».
Oil drifts to near $81 in Asia as mixed inventory report reflects choppy US demand recovery
Oil drifts near $81 amid mixed US inventory data
SINGAPORE – Oil prices drifted down to near $81 a barrel Wednesday in Asia after a report showed mixed evidence about U.S. crude demand.
Benchmark crude for April delivery was down 38 cents to $81.11 a barrel at late afternoon Singapore time in electronic trading on the New … Original source on Gaea Times at : Oil drifts to near $81 in Asia as mixed inventory report reflects choppy US demand recovery.
BA, American and Iberia offer to cede London, New York airport slots to end EU antitrust case
BA, American, Iberia to cede airport slots
BRUSSELS – British Airways, American Airlines and Iberia have offered to give away takeoff and landing slots at London and New York airports to soothe European Union antitrust worries, EU regulators said Wednesday.
The European Commission said it would ask other airlines whether freeing up slots at London Heathrow, London …. Source : BA, American and Iberia offer to cede London, New York airport slots to end EU antitrust case.
World stock markets little changed even as surging Chinese exports point to stronger trade
World stocks little changed as China exports surge
HONG KONG – World stock markets were little changed Wednesday even as surging Chinese exports pointed to a pickup in global trade.
Asia’s major indexes were mixed as many markets fluctuated for the second day in a row and European stocks opened without conviction in either direction. Oil prices … Read the original article on Gaea Times at : World stock markets little changed even as surging Chinese exports point to stronger trade.
Balanced budget or jobs? Meatpackers say Ind. inspection cuts will hurt growing businesses
Meatpackers say inspection cuts are shortsighted
INDIANAPOLIS – Indiana’s plan to lay off some meat inspectors to save money and reduce the time inspectors spend with small, independent processors has the industry and farmers fearing it could hurt what has been a growing industry.
It’s not clear how many of the state’s 52 inspectors will be let … Original source on Gaea Times at : Balanced budget or jobs? Meatpackers say Ind. inspection cuts will hurt growing businesses.
Britain’s Brown warns new economic woes are likely amid fears of return to recession
UK’s Brown warns of new economic woes
LONDON – British Prime Minister Gordon Brown warns that the U.K. may suffer another economic downturn, including a possible dip back into recession.
In a speech Wednesday Brown will say “there are still substantial risks ahead, there will be bumps in the road,” according to excerpts released in advance.
Brown will …. Original article on Gaea Times at : Britain’s Brown warns new economic woes are likely amid fears of return to recession.
Obama touts anti-fraud measures as he takes closing argument for health overhaul on the road
Obama pushing on health care end game
WASHINGTON – President Barack Obama has chosen a suburban St. Louis high school to make his closing argument for a health care overhaul, pushing a new anti-fraud plan as he cranks up the pressure on skittish Democratic lawmakers to act fast.
Obama is to speak Wednesday at St. … Original article on : Obama touts anti-fraud measures as he takes closing argument for health overhaul on the road.
Highlights of Senate bill extending tax breaks, jobless aid
Highlights of Senate jobless aid bill
Highlights of Senate legislation extending unemployment insurance and expired tax breaks:
-Tax relief: Extends through 2010 a variety of popular tax breaks that expired at the end of 2009, including an individual income tax deduction for sales and property taxes, and a business tax credit for research and development. Extends a …. Original article : Highlights of Senate bill extending tax breaks, jobless aid.
Bipartisan Senate support expected for jobless aid, business tax breaks
Senate to pass jobless aid, business tax breaks
WASHINGTON – The Senate votes Wednesday on a bill extending unemployment benefits up to 99 months in many states and renewing tax breaks popular with businesses and individuals.
The measure is likely to pass with bipartisan support despite conservatives’ protests that it will add more than $130 billion to …. Original article on Gaea Times at : Bipartisan Senate support expected for jobless aid, business tax breaks.
Nationalized UK lender Northern Rock says it returned to profit in second half of 2009
Nationalized UK bank Northern Rock back in profit
LONDON – Nationalized mortgage lender Northern Rock said Wednesday that it returned to profit in the second half of 2009 as interest income rose and losses on loans fell.
Northern Rock said it posted a profit of 466.7 million pounds ($696 million) in the second half, following a loss … Original article on : Nationalized UK lender Northern Rock says it returned to profit in second half of 2009.
Scheduled Banks’ Statement of Position in India as on Friday, February 26, 2010
(Amount in Rupees crore)
Scheduled Commercial Banks (SCBs)
(including RRBs)
All Scheduled Banks
27.02.2009
12.02.2010
26.02.2010
27.02.2009
12.02.2010
26.02.2010
I
Liabilities to the Banking System (A)
*
*
*
*
a) Demand & time deposits from banks
44137.57
55186.00
56186.20
48319.46
57426.93
58479.20
**
b) Borrowings from banks
27901.30
19691.20
20840.30
27928.02
19723.19
20851.85
c) Other demand & time liabilities
30118.70
5584.78
5853.57
30122.63
5592.07
5855.89
II
Liabilities to Others (A)
a) Deposits (other than …. Original article : Scheduled Banks’ Statement of Position in India as on Friday, February 26, 2010.
US vice president’s West Bank tour overshadowed by new Israeli settlement plans in Jerusalem
Biden’s West Bank tour clouded by settlement plans
RAMALLAH, West Bank – Israel’s new plan to build 1,600 apartments for Jews in Palestinian-claimed east Jerusalem overshadowed Vice President Joe Biden’s visit to the West Bank on Wednesday.
Biden was to hold talks with Palestinian President Mahmoud Abbas and Prime Minister Salam Fayyad, in …. Source article on Gaea Times at : US vice president’s West Bank tour overshadowed by new Israeli settlement plans in Jerusalem.
Brazil’s Silva says election win by Rousseff would deal machismo a blow, carry on his legacy
Brazil’s Silva: A Rousseff win would KO machismo
BRASILIA, Brazil – Brazil’s president said his hand-picked candidate to succeed him in October’s election would help do away with machismo by becoming the first female president of Latin America’s largest and most influential nation.
President Luiz Inacio Lula da Silva told The Associated Press on Tuesday that Dilma … Read more >>.
Beijing editor punished for editorial urging reform of unpopular registration system
Chinese editor punished for bold editorial
BEIJING – A Chinese newspaper editor said he has been punished for co-writing a bold editorial demanding reform of China’s unpopular household registration system, which critics say discriminates against farmers and other rural poor.
Zhang Hong, a former deputy editor with the Beijing-based Economic Observer, said in a letter posted on … Read : Beijing editor punished for editorial urging reform of unpopular registration system.
Apple reports 30-45 percent growth in fiscal 2010 first quarter
WASHINGTON – Software giant Apple Inc. has over the years, overcome nearly every obstacle thrown its way, and this is reflected in the 15.68 billion dollars revenue it earned and a net quarterly profit of 3.38 billion dollars, or 3.67 dollars per diluted share in financial results for fiscal 2010 – the first quarter – … Read more »»».
Report: NKorea to replace top diplomat in Geneva, purported manager of secret fund overseas
Report: NKorea to replace top diplomat in Geneva
SEOUL, South Korea – North Korea plans to replace its top diplomat in Switzerland who is believed to be a key manager of leader Kim Jong Il’s alleged secret funds stashed overseas, a news report said Wednesday.
Ri Tcheul, North Korea’s ambassador to U.N. agencies in Geneva, is to …. Original article on Gaea Times at : Report: NKorea to replace top diplomat in Geneva, purported manager of secret fund overseas.
China’s February exports jump 45.7 percent from a year as global demand recovers
China February exports jump 45.7 percent
BEIJING – China’s exports rose in February in a new sign of growing global demand that could help persuade officials to let the Chinese currency rise.
Exports were up 45.7 percent over a year earlier, the Chinese customs agency reported Wednesday, beating analyst forecasts of 35 to 40 percent growth. Imports …. Read the original article : China’s February exports jump 45.7 percent from a year as global demand recovers.
Defense secretary says he regrets Northrop withdrawal from bidding to build Air Force tanker
Gates regrets Northrop withdrawal from tanker bid
A U.S. MILITARY BASE IN SOUTHWEST ASIA – U.S. Defense Secretary Robert Gates says he regrets that a major defense contractor has pulled out of the contest to build a badly needed new Air Force plane.
And he warns that the lone surviving bidder shouldn’t expect to be able to … Original article on : Defense secretary says he regrets Northrop withdrawal from bidding to build Air Force tanker.
German carmaker Volkswagen confirms 2009 net income fell 80 percent to $1.3 billion
Volkswagen confirms 2009 net income fell 80 pct
FRANKFURT – Europe’s biggest carmaker Volkswagen AG says its 2009 net income declined 80 percent to euro960 million ($1.3 billion), confirming its preliminary estimate released in February.
The Wolfsburg-based carmaker earned euro4.8 billion in net income in 2008.
Revenue in 2009 was down nearly 8 percent to euro105.2 billion from [..] Read the original article: here.
Palestinians threaten to call off peace talks to protest Israeli settlement plan in Jerusalem
Palestinians threaten to call off peace talks
JERUSALEM – The Palestinians are threatening to pull out of U.S.-mediated peace talks with Israel before the negotiations even start.
The two sides agreed this week to resume indirect talks through a U.S. mediator.
But the Palestinians say Israel’s plan to build 1,600 new homes in disputed east Jerusalem makes it … Read this article on Gaea Times at : Palestinians threaten to call off peace talks to protest Israeli settlement plan in Jerusalem.
US brings troops charged with removing NKorea’s weapons of mass destruction to military drills
US anti-WMD unit joins military drills in SKorea
SEOUL, South Korea – U.S. troops tasked with eliminating North Korea’s weapons of mass destruction are participating in military drills with South Korea, the top U.S. commander in the country said Thursday.
“They are here for this exercise and if we ever went to war, they would naturally come …. Original article on Gaea Times at : US brings troops charged with removing NKorea’s weapons of mass destruction to military drills.
Bank Of Baroda Announces Recruitment Notice
NEW DELHI, INDIA (GaeaTimes.com)- The third largest public sector bank of India, Bank of Baroda has recently announced recruitment notices for Probationary Officers in its various branches across India. As per the announcement, 1200 vacancies exist. The interested applicants need to apply before April 10, 2010. They will be able to apply by means of …. Source article on Gaea Times at : Bank Of Baroda Announces Recruitment Notice.
Google says it is prepared to leave China if censoring continues
WASHINGTON – Search engine Google has said that it is not prepared for further censorship at the hand of the Chinese Government, and is ready to leave the country if pushed further.
“We are no longer willing to censor our search results in China, and we are currently reviewing our options,” … Read : Google says it is prepared to leave China if censoring continues.
Oil falls to near $82 in Asia as traders look for US crude demand to match growing economy
Oil near $82 as traders eye weak US demand
SINGAPORE – Oil prices fell to near $82 a barrel Thursday in Asia as traders eyed tepid U.S. crude demand amid an overall economic expansion.
Benchmark crude for April delivery was down 14 cents to $82.29 a barrel at late afternoon Singapore time in electronic trading on the …. Original source : Oil falls to near $82 in Asia as traders look for US crude demand to match growing economy.
World airlines rebound on Asian and Latin American demand, halve 2010 losses forecast to $2.8B
World airlines see blue skies ahead
GENEVA – Global airlines are undergoing a surprisingly strong recovery with Asian and Latin American carriers leading the way, the leading industry group said Thursday as it halved its loss forecast for 2010 to $2.8 billion.
The International Air Transport Association said carriers began bouncing back late last year, and have …. Read the original article : World airlines rebound on Asian and Latin American demand, halve 2010 losses forecast to $2.8B.
Asian stocks lackluster as spike in China inflation tempers economic confidence; Europe lower
Asian stocks post tepid gains; Europe lower
BANGKOK – Asian stock markets posted tepid gains Thursday as China’s burst of inflation tempered confidence in the regional economic rebound. European shares opened lower.
Most Asian benchmarks fluctuated throughout the day as the latest figures raised doubts about the outlook for major economies.
Oil prices lingered near $82 a barrel …. Source : Gaea News Network.
BP to buy exploration rights in Brazil, Azerbaijan, Gulf of Mexico from Devon Energy for $7B
BP to pay $7 billion for exploration rights
LONDON – Oil company BP PLC said Thursday it will pay $7 billion to acquire exploration rights in Brazil, Azerbaijan and the Gulf of Mexico from Devon Energy Corp.
BP will buy the rights for 10 offshore exploration blocks in Brazil and a portfolio of rights in the U.S. …. Source : BP to buy exploration rights in Brazil, Azerbaijan, Gulf of Mexico from Devon Energy for $7B.
Ex-freshman Massa and Democratic kingpin Rangel spell political trouble for party
Ex-freshman, veteran kingpin equal Democratic woes
WASHINGTON – One is a former Democratic freshman little known outside his Corning-Olean-Pittsford, N.Y., district. The other, a 20-term Democratic kingpin from Harlem, is widely known to New Yorkers and anyone following tax legislation.
But now, Republicans – looking for any opening to regain control of the House – …. Source article : Ex-freshman Massa and Democratic kingpin Rangel spell political trouble for party.
Congressional Democrats, near deal on health legislation, must sell it to rank and file
Democrats, White House close in on health bill
WASHINGTON – A final agreement nearly in hand, President Barack Obama and Democratic leaders are about to embark on one last sales job that will determine the outcome of the president’s signature health care overhaul.
It will come down to a phenomenal effort by congressional leaders and …. Source : Gaea News Network.
Lawmakers to probe govt safety agency’s handling of Toyota recalls, auto industry
Safety agency under spotlight in House hearing
WASHINGTON – Toyota’s massive recalls are bringing new scrutiny to the government’s auto safety agency, prompting Congress to look at how federal safety officials have lived up to their mission of protecting motorists.
A House panel on Thursday planned to examine the National Highway Traffic Safety … Original source on Gaea Times at : Lawmakers to probe govt safety agency’s handling of Toyota recalls, auto industry.
Forbes says Gates no longer the world’s richest
NEW YORK – Mexican tycoon Carlos Slim is the world’s richest person, knocking Microsoft founder Bill Gates into second spot, as the wealth of the world’s billionaires grew by 50 per cent over the last year.
Forbes magazine reports it’s only the second time since 1995 that …. Source article on Gaea Times at : Forbes says Gates no longer the world’s richest.
Debt-plagued Greece grinds to halt with new general strike as unions protest austerity plan
Greece paralyzed by strike over austerity plan
ATHENS, Greece – Greek public transport was halted, flights grounded and state hospitals left with emergency staff only on Thursday as workers held yet another general strike to protest painful spending cuts.
Debt-plagued Greece has faced a new wave of labor discontent since the Socialist government’s harsh new austerity plan …. Source : Gaea News Network.
German salt, fertilizer company Kali+Salz’s Q4 net income falls 93 pct to $22 million
Kali+Salz’ Q4 net income falls 93 pct to $22M
FRANKFURT – German salt and fertilizer company Kali+Salz AG said Thursday that its fourth-quarter net income plunged 93 percent to euro16 million ($22 million) as the downturn significantly affected demand in global agricultural markets.
The Kassel-based company earned euro227 million in net income in the fourth quarter of …. Source article : German salt, fertilizer company Kali+Salz’s Q4 net income falls 93 pct to $22 million.
China inflation rises in February, adding to pressure on Beijing to keep recovery on track
China’s inflation accelerates in February
BEIJING – China’s inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the world’s third-largest economy on track.
Consumer prices rose 2.7 percent in February over a year earlier, up from January’s 1.5 percent increase, the National Bureau of Statistics reported Thursday. Driven …. Source article : China inflation rises in February, adding to pressure on Beijing to keep recovery on track.
India aims to become world’s fastest growing economy by building roads and enriching the poor
India aims to be world’s fastest growing economy
MUMBAI, India – Just how fast can India grow? Ask Manal Farooq, who can’t make gloves quickly enough.
“We are facing a major problem,” said Farooq, a senior executive at Marvel Gloves Industries, which produces 3 million pairs of gloves a month, most used in … Original source on Gaea Times at : India aims to become world’s fastest growing economy by building roads and enriching the poor.
Richest Indian Mukesh Ambani amongst Forbes top ten Billionaires
MUMBAI – Reliance Industries chairman Mukesh Ambani has become the richest man in the Asia-Pacific region and the fourth in world rankings as per the 2010 Forbes list of world’s billionaires released on Wednesday.
The number of tycoons from the Asia-Pacific region with a ten-figure net worth …. Read the original article : Richest Indian Mukesh Ambani amongst Forbes top ten Billionaires.
China limits bonuses for bankers, joining global effort to reduce financial risk
China limits bonuses for bankers to manage risk
BEIJING – China has tightened controls on pay for its top bankers, joining global efforts to try to limit financial risks by linking longer-term performance more closely to compensation.
Chinese banks must withhold at least 40 percent of bonuses for top executives for a minimum of three years and …. Source : Gaea News Network.
Standard & Poor’s hikes Ukraine’s credit rating a notch after new government was formed
S&P raises Ukraine’s credit rating
KIEV, Ukraine – Ratings agency Standard & Poor’s says it has raised Ukraine’s sovereign credit rating by one notch, citing reduced political risks in the country.
Ukraine’s parliament voted Thursday to appoint a new prime minister, Mykola Azarov, who is a staunch ally of new President Viktor Yanukovych.
S&P said in a statement …. Original article : Standard & Poor’s hikes Ukraine’s credit rating a notch after new government was formed.
Acclaimed Spanish novelist Miguel Delibes dies at 89
Spanish novelist Miguel Delibes dies at 89
MADRID, Spain – Miguel Delibes, an acclaimed and prolific novelist whose work featured gritty depictions of rural life in post-civil war Spain and psychological analyses of characters facing turning points, died Friday. He was 89.
Delibes, who had been fighting cancer of the colon for several years, died at his …. Original article : Acclaimed Spanish novelist Miguel Delibes dies at 89.
Tax collection has to be more humane: Mukherjee
NEW DELHI – Tax collection has to be more humane, Finance Minister Pranab Mukherjee has said, asking revenue officials to consider tax payers as important stake-holders in nation-building.
We have to administer taxes with a human approach. The shift in policy whereby tax payers are not seen as adversaries has resulted in a significant growth in …. Source article : Tax collection has to be more humane: Mukherjee.
Asian stocks mixed as investors await more economic clues; European shares inch higher
Asian stocks mixed as US data eyed; Europe gains
HONG KONG – Asian stocks were mixed Friday as investors held out for additional clues to the strength of economic recovery. European shares rose in early trade.
Markets in Asia opened higher but sold down toward day’s end, reflecting uncertainty surrounding the U.S. rebound, China’s policies and debt … Original article on : Asian stocks mixed as investors await more economic clues; European shares inch higher.
Diplomats say North Korea demands 20 percent hike in rent for foreign embassies
Diplomats: North Korea seeks hike in embassy rent
SEOUL, South Korea – North Korea has demanded a hike in rental fees for embassies and international organizations in Pyongyang, diplomats said Friday, in what could be a move to raise foreign currency amid tightened international sanctions.
The United Nations slapped new restrictions on North Korea following its second …. Read the original article : Diplomats say North Korea demands 20 percent hike in rent for foreign embassies.
Industrial production grows 16.7 percent in January
NEW DELHI – India’s industrial production rose 16.7 percent in January from one percent a year earlier, official data showed Friday.
The output was a better-than-expected 16.8 percent in December 2009. In January 2009, the figure stood at just 1 percent.
The index of industrial production (IIP), which measures the country’s factory output, stood at 9.6 … Read more »»».
Left, SP MPs walk out against food prices
NEW DELHI – Left and Samajwadi Party (SP) MPs Friday walked out of the Lok Sabha in protest against rising food prices and demanded a White Paper on inflation.
Ramachandran Dome of the Communist Party of India-Marxist (CPI-M) raised the issue and asked the government to explain the causes that have led to the situation.
Gurudas …. Read the original article : here.
India, Canada expected to sign nuke deal in June
CHENNAI – India and Canada are expected to sign a civil nuclear deal during Prime Minister Manmohan Singh’s visit to the country in June that will increase the prospects of bilateral trade between the two countries, a Canadian High Commission official said.
“Bilateral trade between India and Canada will increase manifold once the two …. Source article on Gaea Times at : India, Canada expected to sign nuke deal in June.
US connects to India with apples, nuts
NEW DELHI – With a healthy booty of Washington apples, Indiana popcorns, Georgian pecan nuts, Californian pistachios and prunes, the US is looking to forge new “diplomatic” ties by increasing its presence in the Indian health food market.
“We connect to other cultures with book diplomacy, but food is also another great tool of diplomacy. Food …. Original article on Gaea Times at : US connects to India with apples, nuts.
Out for results in a compressed year, Obama maintains a juggle beyond jobs and health care
Need for results drives Obama’s domestic juggle
WASHINGTON – President Barack Obama’s intense juggling of domestic issues reflects all the realities he faces: a vast agenda, a smaller window for results this year and a need to keep promises to constituencies that will have a huge say in the fall congressional elections.
Obama … Read the original article on Gaea Times at : Out for results in a compressed year, Obama maintains a juggle beyond jobs and health care.
Senators question lobbying, nearly $1 million in compensation for CEO of Boys & Girls Clubs
Senators question $1 million pay for charity’s CEO
WASHINGTON – A group of Republican senators is questioning high salaries and expensive travel bills for executives at the Boys & Girls Clubs of America, raising issues that could jeopardize millions in federal funding for the national charity.
The four senators said they were concerned that the chief executive … Read this article on Gaea Times at : Senators question lobbying, nearly $1 million in compensation for CEO of Boys & Girls Clubs.
Judge to hear plan to pay $657M to WTC rescuers, recovery workers who sued over 9/11 illnesses
Judge to hear plan to pay $657M to WTC responders
NEW YORK – A settlement that could pay up to $657.5 million to more than 10,000 ground zero rescue and recovery workers sickened by dust from the destroyed World Trade Center goes before a judge Friday, and he has said he favored a settlement but planned …. Read the original article : Judge to hear plan to pay $657M to WTC rescuers, recovery workers who sued over 9/11 illnesses.
Google denies ‘exit China’ rumor
BEIJING – Search engine Google on Thursday denied it was planning to shut down its business in China by the end of the month.
Google’s spokeswoman Marsha Wang told China Daily on Thursday that the company had not ordered its domestic advertising agents to stop doing business.
“That’s not possible. Our China operations are still at normal,” …. Source : Gaea News Network.
Dems whittle disputes over health overhaul, sharpen strategy for pushing it through Congress
Democrats pare differences over health overhaul
WASHINGTON – Top Democrats say they are resolving disputes over President Barack Obama’s health overhaul plan, but they face decisions on subsidizing coverage and are still hunting votes to push the vast package through Congress.
House Democrats were meeting again Friday to discuss the still-evolving plan and for leaders …. Source : Gaea News Network.
Lawmakers, GAO probe lax enforcement of animal welfare rules following slaughterhouse abuse
Lawmakers probe lax enforcement of animal rules
FRESNO, Calif. – The knives at the slaughterhouse weren’t properly sanitized, a government investigator said, and employees at the meatpacking plant didn’t know how to test the carcasses of days-old veal calves for a dangerous pathogen. Food safety conditions were so poor at the Vermont processing facility that it …. Original source : Lawmakers, GAO probe lax enforcement of animal welfare rules following slaughterhouse abuse.
Norwegian fertilizer group Yara won’t up bid for Terra after higher CF acquisition offer
Yara won’t up bid for Terra
OSLO – Norwegian fertilizer company Yara International ASA said Friday it will not increase its offer to acquire U.S. competitor Terra Industries after Terra’s board chose to favor a higher bid from CF Industries.
Yara CEO Joergen Ole Haslestad said that while Terra is “a perfect fit” for Yara at the … Read more : Norwegian fertilizer group Yara won’t up bid for Terra after higher CF acquisition offer.
China’s Haier: Joins with GE to sell appliances in Chinese countryside
Haier selling GE appliances in rural China
SHANGHAI – Chinese appliance maker Haier says it has joined with General Electric in selling GE appliances to rural areas, the focus of subsidies intended to boost spending by hundreds of millions of farmers.
Haier, headquartered in the eastern city of Qingdao, is the world’s fourth largest white goods manufacturer, …. Source : China’s Haier: Joins with GE to sell appliances in Chinese countryside.
Diplomat: North Korea demands 20 percent hike in rent for foreign embassies
Diplomat: North Korea seeks hike in embassy rent
SEOUL, South Korea – North Korea has demanded a hike in rental fees for foreign diplomatic missions and international organizations in Pyongyang, a diplomat said Friday, in what could be a move to raise foreign currency amid tightened international sanctions.
The United Nations slapped new restrictions on North Korea …. Source article on Gaea Times at : Diplomat: North Korea demands 20 percent hike in rent for foreign embassies.
Be more productive, stop forgetting things and organize your life
CHANDIGARH – In today’s dynamic world, forgetting is something, we all do. It is bad enough when it is someone’s birthday, but when it is a business or monetary issue it can be costly. By keeping in mind the information overload and today’s life style, Yaad the recall services has introduced YaadiT – the recalling …. Read the original article : Be more productive, stop forgetting things and organize your life.
Himalaya International Ltd. enters nutraceuticals and dietary supplements market
NEW DELHI – The Himalaya International Limited, India’s first frozen food company, has entered the rapidly expanding nutraceuticals and dietary supplements market with the launch of its product under the brand name-’1 Daily’.
Speaking during the brand launching ceremony here, Chairman of the Himalaya International Limited, Manmohan Malik said that his company has tied up … Read more >>.
With three-day power cut, Andhra industry fears job loss
HYDERABAD – Industry in Andhra Pradesh is reeling under unprecedented electricity cuts and the Confederation of Indian Industry (CII) has warned that workers may lose their jobs.
The around 30 percent power cut has got the industry worried at a time when it was just recovering from losses it suffered during the Telangana agitation.
“It is …. Read the original article : here.
Bentley unveils super luxury Mulsanne at Rs.2.9 crore
NEW DELHI – British luxury car maker Bentley Saturday unveiled its new model Mulsanne priced at Rs.2.9 crore (approx $638,000) and said it would hit the Indian market by October.
We have debuted this car in the Indian market for Bentley car connoisseurs. India has a very strong and vibrant economy. We are very hopeful about …. Original source : Bentley unveils super luxury Mulsanne at Rs.2.9 crore.
Obama’s bid to remove senators’ projects from health care bill runs into political reality
Senators resist Obama over projects in health bill
WASHINGTON – President Barack Obama says he wants projects helping specific states yanked from the health care bill Congress is writing. Democratic senators, being senators, beg to differ.
The Senate-approved health measure lawmakers hope to send to Obama soon would steer $600 million over the next decade …. Original article on Gaea Times at : Obama’s bid to remove senators’ projects from health care bill runs into political reality.
Striking government employees take out rally in Srinagar
SRINAGAR – Jammu and Kashmir government employees struck work for the fifth consecutive day Saturday and took out a rally in Srinagar demanding wage arrears according to the Sixth Pay Commission’s recommendations.
Hundreds of striking employees took out a rally from the S.M.H.S. hospital and proceeded towards the old secretariat.
More than 4.5 lakh employees have …. Source article : Striking government employees take out rally in Srinagar.
Fate of Kochi IT park project hangs in balance
THIRUVANANTHAPURAM – The fate of the proposed Rs.1,500 crore IT park in Kochi to be built by Dubai-based developer Smart City Dubai will be decided at a board of directors meeting later this month.
The Kerala government is adamant that no freehold rights over the project would be given to the builder as such a [..] Read the original article: here.
Dhaka keen to attract more Indian, Chinese funds
DHAKA – Bangladesh has decided not to bargain with foreign lenders for lowering loan interest rates in a bid to attract funds from India, China, South Korea and others for funding development projects, officials said here.
Dhaka expects investments from India, which has also pledged $1 billion of credit when Prime Minister Sheikh Hasina was in … Read more : Dhaka keen to attract more Indian, Chinese funds.
‘Oil mafia siphoned Rs.90 bn annually during Musharraf regime’
ISLAMABAD – Pakistan’s oil mafia is alleged to have siphoned Rs.90 billion annually during former president Pervez Musharrafs tenure by supplying substandard diesel at the rates of the high quality premium variety, a media report said Saturday.
Some key officials of Musharraf’s presidency, the petroleum ministry, the Central Board of Revenue, marketing agency Pakistan State Oil … Read more »».
Canada’s Bengal Co. to explore oil, gas in Cauvery Basin
TORONTO – Bengal Energy Ltd, a Canadian oil and gas exploration and production company based in Calgary, said Friday it is joining an Indian consortium for exploration in the Cauvery basin.
Headed by Chayan Chakrabarty, the Canadian company said it will join the Gas Authority of India (GAIL) and the Gujarat State Petroleum Corporation to undertake …. Original source : Canada’s Bengal Co. to explore oil, gas in Cauvery Basin.
China’s legislative advisory body: Keep economy stable and steady
China gov’t advisers urge steady economy
BEIJING – China’s top parliamentary adviser said Saturday that keeping the economy stable and steady must remain the government’s biggest priority this year.
Jia Qinglin, the Communist Party’s No. 4 ranking leader, told delegates at the close of the annual session of the legislative advisory body that more will need to … Original article on : China’s legislative advisory body: Keep economy stable and steady.
Canadian currency nears parity with US dollar, markets hit new high
TORONTO – Canadian markets Friday crossed the 12,000-mark and the Canadian dollar reached record levels against the US for the first time since mid-2008.
While the markets made small gains on metal prices to cross the 12,000-mark for the first time since September 2008, the Canadian dollar – or the loonie – surged to 98.20 cents …. Original source : Canadian currency nears parity with US dollar, markets hit new high.
Eveready hikes battery prices by 5-10 percent
KOLKATA – Eveready Industries India has hiked the prices of its range of dry cell batteries by 5 to 10 percent, a senior company official said here.
The prices were increased from Friday.
“Over the past 4-5 months there has been a continuous upward climb in the prices of zinc, a key raw material for making … Read more »»».
MLS players insist labor strive and strike vote isn’t about money but player rights
MLS players say they’re unified in labor talks
SEATTLE – Kasey Keller wants to make sure fans who hear about a possible strike in Major League Soccer understand the current standoff is about player rights and not salaries.
“This is truly a case of guys who could make more money going out and getting a job, but … Original source on Gaea Times at : MLS players insist labor strive and strike vote isn’t about money but player rights.
Chile tells China to make use of free trade deal
SANTIAGO – Chile has called on China to make full use of a free trade deal that helped it become the country\’s top trading partner, Xinhua reported.
\”Our free trade agreement is still young. We have to take advantage of it in benefit of both nations,\” Chilean President Sebastian Pinera said Friday.
\”We are looking …. Read the original article : Chile tells China to make use of free trade deal.
NYC officials: Taxi drivers scammed riders by $8.3M-plus by setting meters to suburban rate
NYC: Taxi drivers overcharged riders by $8.3M-plus
NEW YORK – Thousands of New York City taxi drivers overcharged passengers by more than $8.3 million over the past two years by setting their meters at a rate that was supposed to be used for trips to the suburbs, the Taxi and Limousine Commission said Friday.
At least 1.8 … Read more »».
Nortel Networks posts 4th-quarter net income of $1.8 billion, boosted by sale of business
Nortel Networks posts profit in 4Q
TORONTO – Bankrupt telecom equipment maker Nortel Networks Corp. said Friday it posted a profit in the fourth quarter, thanks to a large gain related to an asset sale.
For the three months ended Dec. 31, Nortel said its net income was $1.78 billion, or $3.34 per share. The company recorded …. Source : Gaea News Network.
Halozyme Therapeutics reports smaller loss due to $5.8 million in payments from Roche, Baxter
Halozyme narrows 4Q loss due to Hylenex payment
SAN DIEGO – Biotechnology company Halozyme Therapeutics Inc. said Friday that it trimmed its fourth-quarter loss with help from a large payment from its partner Baxter International and Swiss drug maker Roche.
Halozyme said it lost $12.7 million, or 14 cents per share, compared with a loss of $16.8 …. Source article : Halozyme Therapeutics reports smaller loss due to $5.8 million in payments from Roche, Baxter.
UTEP ousts Tulsa 75-61, reaches title game of Conference USA tournament
UTEP bounces Tulsa 75-61
TULSA, Okla. – Randy Culpepper scored 21 points to lead No. 25 UTEP to a 75-61 victory over Tulsa in the semifinals of the Conference USA tournament on Friday.
Arnett Moultrie added 18 points, Christian Polk scored 13 points and Derrick Caracter added 10 for the top-seeded Miners (26-5).
The Miners’ offense was effective … Read the original article on Gaea Times at : UTEP ousts Tulsa 75-61, reaches title game of Conference USA tournament.
Motorola’s Jha gets $3.77M in 2009 pay, accepts bonus but slashes own salary
Motorola’s Jha gets $3.77M in 2009, accepts bonus
NEW YORK – After grabbing headlines with a sign-on bonus of more than $100 million, Motorola Inc. co-CEO Sanjay Jha has settled down to a more pedestrian $3.77 million in annual pay.
Motorola revealed Friday in a regulatory filing that Jha received a 2009 salary of $905,769 in 2009, …. Original source : Motorola’s Jha gets $3.77M in 2009 pay, accepts bonus but slashes own salary.
FDA puts black box warning on Plavix, says certain patients can’t process blood thinner
FDA warning: some patients cannot process Plavix
WASHINGTON – The Food and Drug Administration is adding its strongest warning to the label for Plavix, cautioning that some patients do not respond to the blockbuster blood thinner.
The FDA said in a statement Friday that certain patients with a genetic variation cannot metabolize the drug, putting them at …. Original article on Gaea Times at : FDA puts black box warning on Plavix, says certain patients can’t process blood thinner.
High profile Riverton Houses apartment complex auctioned for $125M
Middle-class NYC apartment complex sold at auction
NEW YORK – The developer of a high profile middle-class Harlem apartment complex has lost ownership of the property after defaulting on the mortgage.
A lawyer for Laurence Gluck confirmed Friday that Wells Fargo, acting as a trustee for bond holders, won the auction for Riverton Houses with its own … Original article on : High profile Riverton Houses apartment complex auctioned for $125M.
Google almost cent percent sure to exit from China
LONDON – Seemingly torn between Chinese censorship and Chinese opportunity, international search engine Google is now “99.9 percent” certain that it will shut down its Chinese search engine, Google.cn.
According to the Financial Times, the search engine giant, having reached an apparent … Read more : Google almost cent percent sure to exit from China.
Israeli leader urges calm after new rebuke from US over east Jerusalem construction plans
Israeli leader urges calm over row with Washington
JERUSALEM – Israel’s prime minister is urging calm following another stern rebuke from Washington over plans to build 1,600 apartments in contested east Jerusalem.
Benjamin Netanyahu told his Cabinet on Sunday “not to get carried away and to calm down” over the crisis with the U.S.
News of the construction …. Original article on Gaea Times at : Israeli leader urges calm after new rebuke from US over east Jerusalem construction plans.
ADB loan for hydropower in Himachal Pradesh
SHIMLA – Himachal Pradesh will soon get another tranche of a multimillion-dollar loan from the Asian Development Bank (ADB) for the construction of four hydropower generating plants in the northern Indian state, a senior official said here Sunday.
ADB would soon release the second instalment of $59.1 million under the Himachal Pradesh Clean Energy Development Investment …. Source article : ADB loan for hydropower in Himachal Pradesh.
China’s premier promises to boost imports, calls on other nations to oppose protectionism
China promises steps to boost imports
BEIJING – China’s premier promised Sunday to increase imports to promote trade and appealed to other nations to oppose what he said was rising global protectionism.
“We will continue to take measures to increase our imports,” Premier Wen Jiabao said at a news conference. He gave no details of what Beijing … Read the original article on Gaea Times at : China’s premier promises to boost imports, calls on other nations to oppose protectionism.
May take 9 years to settle boundary row with India: Dhaka
DHAKA – Bangladesh’s foreign affairs ministry has projected a nine-year period to settle maritime boundary dispute with India and Myanmar and has sought funds till 2017-18, a media report said Sunday.
Seeking funds from the finance ministry, the foreign office projected nine years for the settlement of the disputed issues in the International Tribunal for the …. Original source : May take 9 years to settle boundary row with India: Dhaka.
Oil exploration, trade on Hasina’s Beijing agenda
DHAKA – Getting China to join the race for hydrocarbons in the Bay of Bengal and bridging the bilateral trade gap are high on Bangladesh Prime Minister Sheikh Hasina’s agenda as she leaves for Beijing Wednesday.
Eighty-seven delegates, including businessmen, will be part of her entourage during the five-day visit.
Highly placed …. Original article : Oil exploration, trade on Hasina’s Beijing agenda.
Dhaka wants interim accord with Delhi on Teesta waters
DHAKA – Bangladesh is seeking an interim arrangement with India on sharing of Teesta river waters until the two neighbours can strike a long-term agreement.
The next round of talks by the Joint Rivers Commission (JRC) will be headed by ministers and is due to be held Wednesday in New Delhi.
Bangladesh Water Resources Minister Ramesh … Read this article on Gaea Times at : Dhaka wants interim accord with Delhi on Teesta waters.
China must be cautious in exiting economic stimulus: Wen
BEIJING – China’s exit strategy on the economic stimulus should be “very cautious and flexible” in order to shore up the hard-earned economic recovery, Premier Wen Jiabao said Sunday.
“We must maintain the continuity and stability of macro economic policy, which means we will continue implementing proactive fiscal policy and moderately loose monetary policy to consolidate …. Source article on Gaea Times at : China must be cautious in exiting economic stimulus: Wen.
Chavez says Internet should be regulated, urges legal crackdown on Venezuelan Web site
Venezuela’s Chavez: Internet should be regulated
CARACAS, Venezuela – Venezuelan President Hugo Chavez called for regulation of the Internet on Saturday while demanding authorities crack down on a critical news Web site that he accused of spreading false information.
In a televised speech, Chavez said: “The Internet can’t be something free where anything can be done and …. Source article on Gaea Times at : Chavez says Internet should be regulated, urges legal crackdown on Venezuelan Web site.
China’s premier rejects pressure on currency, says yuan will be kept ‘basically stable’
Premier: China’s yuan to remain ‘basically stable’
BEIJING – China’s premier rejected foreign pressure over its exchange rate controls and said Sunday the Chinese currency will be kept “basically stable.”
Premier Wen Jiabao promised to reform currency controls, but gave no indication when that might happen. Washington and other trading partners are pressing Beijing to ease controls … Read this article on Gaea Times at : China’s premier rejects pressure on currency, says yuan will be kept ‘basically stable’.
Zooming Indian auto industry needs more road space to grow (Comment)
The Indian automobile industry has come under global focus, ranking second only to China as the fastest growing market in the world. The spate of new launches by the auto majors and rising sales graphs over the past few months indicate that the fiscal stimulus seems to have worked wonders for this industry.
Demand started growing … Read this article on Gaea Times at : Zooming Indian auto industry needs more road space to grow (Comment).
Nearly 28 mn new jobs in manufacturing likely by 2015
NEW DELHI – With industrial output picking up, the manufacturing sector will be a major contributor to new employment and is likely to generate 27.95 million jobs by 2015, but the share of agriculture is expected to decline, according to a study.
In its study ‘Emerging Future Jobs’, the Associated Chambers of Commerce and Industry of … Original source on Gaea Times at : Nearly 28 mn new jobs in manufacturing likely by 2015.
Pelosi: Says she’s confident the House will pass health care legislation
Pelosi: Confident House will pass health care bill
SAN FRANCISCO – House Speaker Nancy Pelosi said Saturday she’s confident the House will pass health care legislation and dismissed Republican criticism that she did not have enough votes for the measure.
“We’re very excited about where we are and will not be deterred by estimates that have no …. Read the original article : Pelosi: Says she’s confident the House will pass health care legislation.
Fiorina introduces herself to GOP faithful with heavy criticism of Boxer, government spending
Fiorina assails Washington, Boxer as out of touch
SANTA CLARA, Calif. – Senate candidate Carly Fiorina on Saturday attempted to win over California Republicans by attacking two of their strongest dislikes – incumbent Democrat Barbara Boxer and a federal government she says is broken.
Fiorina is the former Hewlett-Packard CEO making her first run at public office. …. Read the original article : Fiorina introduces herself to GOP faithful with heavy criticism of Boxer, government spending.
Israel orders probe into fiasco that erupted during Biden visit
Israel to investigate Biden fiasco
JERUSALEM – Israel’s premier has ordered an investigation into how government officials announced plans for a new Jewish housing project in east Jerusalem during a visit by Vice President Joe Biden.
Prime Minister Benjamin Netanyahu’s office said he ordered the probe late Saturday after he met with top Cabinet ministers.
While Biden was … Read : Israel orders probe into fiasco that erupted during Biden visit.
Former astronauts call US decision to cancel moon landing program disappointing
Former astronauts criticize US moon decision
LONDON – Two former astronauts have said they are disappointed with the U.S. government’s decision to cancel NASA’s moon landing program.
Jim Lovell, who led the Apollo 13 mission in 1970, told the BBC the cancellation could be disastrous.
“Personally, I think it will have catastrophic consequences in our ability to explore …. Original source : Former astronauts call US decision to cancel moon landing program disappointing.
Lewis leads Houston into NCAAs for 1st time in 18 years as Cougars upend No. 25 UTEP 81-73
Houston ends No. 25 UTEP’s run to reach NCAAs
TULSA, Okla. – Kelvin Lewis scored 28 points and Houston surged past No. 25 UTEP down the stretch to claim its first NCAA tournament berth in 18 years with an 81-73 victory in the Conference USA tournament title game that snapped the Miners’ 16-game winning streak.
National scoring …. Source article : Lewis leads Houston into NCAAs for 1st time in 18 years as Cougars upend No. 25 UTEP 81-73.
Future managers asked to address planet earth’s problems
LUCKNOW – Graduating students of the Indian Institute of Management-Lucknow (IIM-L) were Sunday asked to use the skills and traits they had learnt not only in the corporate world, but also to “manage the problems of the planet earth”.
“Don’t forget to practice sustainable measures for the environment and the earth. No matter where you work, …. Read the original article : Future managers asked to address planet earth’s problems.
Young Chinese workers less willing to settle for sweatshops than their parents were
China’s new generation picky about factory jobs
GUANGZHOU, China – Factory worker Chen Qinghai frowned as he looked at a tall bulletin board full of help-wanted notices from companies making everything from photocopiers and DVD drives to mobile phones and car parts.
The 19-year-old saw nothing that interested him.
“I wouldn’t want to do any of these jobs,” … Read this article on Gaea Times at : Young Chinese workers less willing to settle for sweatshops than their parents were.
Indian IT companies eye Latin American, African markets for business expansion
JAIPUR – While the companies across the world are taking their time to overcome the impact of recession, Indian Information technology companies are exploring new and non-commercial markets in Latin America, Africa and Middle Eastern countries to expand their business.