Moody’s downgrades Ambac debt after regulators step in to segregate toxic assets

Moody’s cuts Ambac debt after regulators step in

NEW YORK – Moody’s Investors Service on Friday cut the senior unsecured debt of Ambac Financial Group Inc. to its lowest rating, after the bond insurer’s major subsidiary was hit with regulatory action.
Moody’s cut Ambac Financial to “C” from “Ca,” its lowest rating above default.
However, the ratings agency …. Read the original article  : Moody’s downgrades Ambac debt after regulators step in to segregate toxic assets.

Darden appoints Olive Garden executive as chief marketing officer; general counsel to retire

Darden Restaurants names chief marketing officer

ORLANDO, Fla. – Darden Restaurants Inc. will promote an Olive Garden executive to become the company’s new chief marketing officer, the restaurant chain said Friday.
John Caron, 52, who is the executive vice president of marketing at Olive Garden, will become Darden’s first ever CMO.
Meanwhile, the owner of Olive Garden, Red …. Source article on Gaea Times at  : Darden appoints Olive Garden executive as chief marketing officer; general counsel to retire.

RadioShack, Ann Taylor, Genzyme, Progressive, Oracle among big market movers Friday

RadioShack, Ann Taylor, Genzyme are big movers

NEW YORK – Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
RadioShack Corp., up $1.85 at $23.65
A media report said that the electronics retailer is reviewing its strategic options, including a possible sale of the company.
Ann Taylor Stores Corp., up … Read the original article on Gaea Times at : RadioShack, Ann Taylor, Genzyme, Progressive, Oracle among big market movers Friday.

EU appeals to US to boost relations, says Europe remains bigger ally of Washington than China

EU seeks better trans-Atlantic ties
BRUSSELS – The EU called on the U.S. on Friday to upgrade trans-Atlantic relations, insisting that when it comes to crafting a new world order, Europe is a more significant ally than China and other emerging economies.

In separate appearances at the Brussels Forum – an annual security conference – three senior … Read this article on Gaea Times at : EU appeals to US to boost relations, says Europe remains bigger ally of Washington than China.

Dollar slides after European Union leaders agree to pledge financial support for Greece

Dollar slides as EU leaders resolve Greek bailout

NEW YORK – The dollar slid against the euro and the pound Friday after European leaders put aside their differences over the Greek debt crisis and agreed on a pledge of financial support for the country.
The 16-nation euro recovered from a 10-month low against the dollar, jumping to … Read more >>>.

AT&T declares regular quarterly dividend of 42 cents

AT&T declares regular quarterly dividend
DALLAS – Telecommunications company AT&T Inc. declared a regular quarterly dividend of 42 cents on Friday.

The dividend is payable May 3 to stockholders of record on April 9.
…. Original article  : AT&T declares regular quarterly dividend of 42 cents.

Seventh straight week of gains for Sensex (Weekly market review)

MUMBAI – Benchmark indices for Indian equities gained for the seventh straight week although the rally showed signs of slackening in what was a truncated week of trade.

The markets were closed Wednesday on account of Ram Navmi.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up a modest 66.53 points …. Original article  : Seventh straight week of gains for Sensex (Weekly market review).

Republicans were for Obama’s health insurance rule before they opposed it

Obama’s health insurance rule _ it was a GOP idea
WASHINGTON – Republicans were for President Barack Obama’s requirement that Americans get health insurance before they were against it. The obligation in the new health care law is a Republican idea that’s been around at least two decades. It was …. Source article  : Republicans were for Obama’s health insurance rule before they opposed it.

Tully’s Coffee founder retiring as chairman

Tully’s Coffee founder retiring as chairman

SEATTLE – Tully’s Coffee founder Tom O’Keefe says he’s retiring June 30 as chairman of the company.
He made the announcement Friday at a shareholders meeting in Seattle. A company statement says a successor will be selected over the next 90 days by Tully’s board.
O’Keefe said he has confidence in the …. Source article  : Tully’s Coffee founder retiring as chairman.

India eyeing agri-business in Africa, says Preneet Kaur

CHANDIGARH – India is aiming to tap opportunities in the agricultural sector in Africa, Minister of State for External Affairs Preneet Kaur said Friday.

“There are many unexplored opportunities in the agri-business sector that we are looking forward to tap,” Kaur told reporters here.
A delegation of ambassadors and high commissioners from several African countries such … Read the original article on Gaea Times at : India eyeing agri-business in Africa, says Preneet Kaur.

US aviation firms asked to set up bases in India

WASHINGTON – India has asked US aviation companies to think of establishing manufacturing bases and investing in aviation infrastructure like airports in India for a long-term commitment.

Visiting Indian Minister of State for Civil Aviation Praful Patel told senior US officials like Commerce Secretary Gary Locke and Transportation Secretary Ray LaHood Thursday that Washington should …. Source  : Gaea News Network.

China says suspect detained in food scare 2 years ago; tainted dumplings sickened 10 in Japan

China has suspect in Japan tainted dumplings case
BEIJING – China has detained a man suspected of poisoning frozen dumplings that sickened at least 10 people in Japan two years ago, which caused a food safety scare in a key export market and further hurt foreign confidence in Chinese products.
The news contradicts Chinese authorities’ …. Original article  : China says suspect detained in food scare 2 years ago; tainted dumplings sickened 10 in Japan.

Obama’s 2nd pick to head up TSA withdraws, cites controversy over defense contracting work

2nd pick for transportation security chief is out

WASHINGTON – President Barack Obama’s second nominee for transportation security chief withdrew from consideration Friday because of questions over his background as a defense contractor.
Retired Army Maj. Gen. Robert Harding took himself out of the running as head of the Transportation Security Administration, another setback for Obama after …. Source  : Gaea News Network.

Holocaust soap made from human fat on sale in Canada!

TORONTO – A Canadian store in Montreal has claimed it is selling soap made from the fat of Holocaust victims.

The shop has displayed the beige-coloured soap bar inscribed with a Swastika in a glass case with a card reading ‘Poland 1940,’ a report by the Canadian Broadcasting Corporation says. The shop also sells a braid … Read : Holocaust soap made from human fat on sale in Canada!.

Russia ready to export poultry from India

Moscow, March 27 (IANS/RIA Novosti) Russia is ready to import poultry from India if the US does not resume its supplies, Russian Agriculture Minister Yelena Skrynnik has said.

India, a major poultry producer, has already expressed its readiness to supply its products to Russia, as well as Turkey and Thailand, Skrynnik said.
“At the moment, [..] Read the original article: here.

Regulators shut 2 Georgia banks, 1 in Florida, 1 in Arizona; makes 41 US bank failures in 2010

Regulators shut 2 Ga. banks, 1 in Fla., 1 in Ariz.

WASHINGTON – Regulators on Friday shut down two Georgia banks and one each in Florida and Arizona, bringing to 41 the number of bank failures in the U.S. so far this year following the 140 that fell in 2009 to mounting loan defaults and the …. Source article on Gaea Times at  : Regulators shut 2 Georgia banks, 1 in Florida, 1 in Arizona; makes 41 US bank failures in 2010.

Time Warner CEO received compensation worth $19.4M in 2009, according to AP analysis

Time Warner CEO pay falls 9 pct. to $19.4M in 2009

SAN FRANCISCO – Jeffrey Bewkes, the CEO of Time Warner Inc., received compensation valued at $19.4 million in 2009, down more than 9 percent from the year before as his stock-based awards fell, according to an Associated Press analysis of a regulatory filing.
Bewkes, 57, received …. Original article  : Time Warner CEO received compensation worth $19.4M in 2009, according to AP analysis.

Gov. Granholm sees diversified Michigan economy as her legacy; says some benefits yet to come

Mich. governor sees diversified economy as legacy

LANSING, Mich. – Gov. Jennifer Granholm said Friday the legacy of her eight embattled years as governor will be a more diverse Michigan economy, although she acknowledges some of the benefits won’t be seen for years.
“I know that I won’t be able to cut the ribbon on the new …. Source article  : Gov. Granholm sees diversified Michigan economy as her legacy; says some benefits yet to come.

Regulators shut down 2 Georgia banks, 1 in Florida; makes 40 US bank failures this year

Regulators close 2 Georgia banks, 1 in Florida

WASHINGTON – Regulators on Friday shut down two Georgia banks and one in Florida, bringing to 40 the number of U.S. banks that have failed this year following the 140 that fell in 2009 to mounting loan defaults and the recession.
The Federal Deposit Insurance Corp. took over the …. Read the original article  : Regulators shut down 2 Georgia banks, 1 in Florida; makes 40 US bank failures this year.

Regulators shut down bank in Georgia; makes 38 US bank failures this year

Regulators close Georgia bank
WASHINGTON – Regulators have shut down a bank in Georgia, bringing to 38 the number of bank failures in the U.S. so far this year.

The Federal Deposit Insurance Corp. on Friday took over McIntosh Commercial Bank, based in Carrollton, Ga., with $362.9 million in assets and $343.3 million in deposits. CharterBank, based [..] Read the original article: here.

After past failures, government launches new effort to solve mortgage crisis, help homeowners

Take two: Gov’t tries new fix for mortgage crisis

WASHINGTON – The government’s bold new plan to stem the foreclosure crisis aims to succeed where previous efforts have fallen flat. Yet just as before, the odds are long, and many struggling borrowers won’t qualify.
In theory, the effort unveiled Friday would help millions of troubled homeowners who …. Source  : After past failures, government launches new effort to solve mortgage crisis, help homeowners.

Indiana jobless rate edges up to 9.8 percent for February; only state in region below 10 pct

Indiana jobless rate edges up to 9.8 percent

INDIANAPOLIS – Indiana’s unemployment rate inched up to 9.8 percent in February, but officials and economists pointed to a rise in temporary workers hired as a sign employers were becoming more confident about creating jobs.
The state Department of Workforce Development said unemployment rose just one tenth of a …. Original article on Gaea Times at  : Indiana jobless rate edges up to 9.8 percent for February; only state in region below 10 pct.

Iceland’s prime minister pressing IMF for review to determine next batch of bailout funding

Iceland’s premier pressing IMF on bailout review

REYKJAVIK, Iceland – Iceland’s prime minister said Friday she was pressing the International Monetary Fund to hasten a review to determine the next batch of bailout funding for the nation’s struggling economy.
The IMF had been putting off a decision on whether to release the second tranche of its $2.1 …. Source article  : Iceland’s prime minister pressing IMF for review to determine next batch of bailout funding.

Summary Box: Yields push lower after Treasurys rebound from recent selling

Summary Box: Rates lower after recent sell-off

BOND REBOUND: Interest rates pulled back in the bond market Friday after rising sharply earlier in the week. Treasury prices eked out small gains.
BARGAIN HUNTING: Investors sought bargains after Treasurys sold off strongly this week following lackluster demand for $118 billion of new government debt.
MIXED DATA: Mixed economic news …. Source article on Gaea Times at  : Summary Box: Yields push lower after Treasurys rebound from recent selling.

Recalled products linked to potential salmonella risk: seasoning products, peppercorn

Products recalled due to potential salmonella risk

The following products are being recalled because 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:
Modern Products Inc. is recalling specific lots of various seasoning products with brands such as Spike, Vegit and … Read more »».

MBIA CEO Joseph W. Brown receives compensation package worth $5.1 million in 2009

MBIA CEO compensation fell 63 percent in 2009

CHARLOTTE, N.C. – The Associated Press has found that MBIA awarded its CEO, Joseph W. Brown, a compensation package worth $5.2 million last year, 63 percent less than in 2008.
A recent regulatory filing shows the majority of Brown’s compensation was from restricted stock and option awards.
Brown received $13.8 … Read the original article on Gaea Times at : MBIA CEO Joseph W. Brown receives compensation package worth $5.1 million in 2009.