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

EU, Greece discuss more cuts amid bailout reports

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

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

Vivendi 4th-quarter net loss narrows 32 pct

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

India urged to repatriate undocumented Indians

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

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

German chancellor Merkel reiterates opposition to bailing out Greece

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

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

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

HSBC 2009 profit rises 2 pct to $5.8 billion

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

Himachal packaging units to go on strike

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

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

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

Prudential close to buying AIG’s Asia unit

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

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

NY teen dumping garbage falls in sewage pit, dies

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

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

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

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

Vehicular strike against fuel price hike in Tripura Tuesday

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

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

TVS Motor logs 31 percent sales growth in February

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

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

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

Toyota chief visits China amid recall woes

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

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

Senate impasse puts federal employees out of work

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

Stage set for India Aviation 2010

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

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

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

Oil rises above $80 as regional stocks gain

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

Trinidad and Tobago seeks Indian investment as gateway to Latin America

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

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

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

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

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

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

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

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

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

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

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

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

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

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

India’s exports rise 11.5 percent in January

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

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

Sensex moves up 2 percent in afternoon trade

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

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

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

Consumer group sues insurer over policy changes

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

NALCO gets state government nod for new bauxite mine

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

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

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

Swiss economy grows 0.7 percent in 4th quarter

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

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

GM to triple funding for Opel restructuring

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

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

Irish bank AIB suffers $3.25B loss in 2009

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

Maruti Suzuki creates February reord in sales

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

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

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

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

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

Scientists try to break fat-and-disease link

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

Obama must win over undecided Dems with revised health overhaul proposal

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

General Motors to recall 1.3 mn cars in North America

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

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

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

China official wanted toxic bean case hushed up

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

540 MW power plant to start soon: Abhijit Group

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

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

Hyundai sales up 42.8 percent in February

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

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

Boeing executive to help find investment opportunities in India

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

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

Senate investigators’ Toyota connections at a glance

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

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

Iraq’s oil deals dominate PM election campaign

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

Maruti Suzuki sales up 22 percent

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

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

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

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

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

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

Senators seek to block stimulus money for overseas

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

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

Asian stocks rise amid Greece hopes; Europe down

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

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

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

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

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

Standard Chartered makes record annual profit

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

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

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

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

GM’s China sales up 51 percent in February

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

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

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

Some Republicans dismiss Pentagon study on gays as biased

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

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

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

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

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

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

SC may gut programs for 26,000 disabled residents

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

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

Cows to chardonnay: Can Conn. dairy farms change?

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

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

Australia’s PM pledges increased hospital funding

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

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

Asian stocks rise amid hopes of Greece resolution

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

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

Summary Box: A look at consumer spending in Feb.

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

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

New data: Feb. retail sales rose in many sectors

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

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

Study: Food-borne illnesses cost US $152 billion

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

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

Oil hovers below $80 on mixed US supplies report

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

Snow clearing work begins on Manali-Leh highway

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

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

Sensex up 107 points in early trade

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

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

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

Supermarket operator Ahold profit drops in Q4

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

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

Greece to issue new 10-year bond through 5 banks

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

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

World markets fall as Fed report, Greece weigh

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

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

Greece seeks German solidarity but no direct aid

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

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

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

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

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

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

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

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

Gov’t slow in efforts to force safer window blinds

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

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

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

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

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

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

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

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

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

Union activists occupy finance ministry in Athens

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

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

5 Pakistani road workers shot dead in Afghanistan

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

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

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

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

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

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

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

Asia stocks fall after Fed points to slow recovery

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

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

China announces 7.5 pct jump in defense spending

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

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

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

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

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

Comtech says 2Q profit climbed, cuts 2010 forecast

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

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

Top Geithner aide in Treasury to step down

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

Money Market Operations as on March 03, 2010

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

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

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

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

BAE Systems sells 10 percent stake in Saab AB

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

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

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

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

Blumenherst, Lim tied for lead at Aussie Masters

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

German steelmaker Salzgitter reports 2009 pretax loss of $675 million

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

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

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

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

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

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

Black leaders’ support may buy time for Paterson

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

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

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

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

New SeaBreeze OEM driver software from Ocean Optics

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

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

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

Australian court: Vioxx doubled heart attack risk

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

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

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

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

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

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

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

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

Japan says it won’t comply with possible tuna ban

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

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

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

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

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

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

Asian markets gain ahead of US jobs report

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

Money Market Operations as on March 04, 2010

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

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

Redskins cut 10 players on eve of free agency

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

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

China expects 8 percent economic growth this year

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

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

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

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

Toyota owners remain loyal despite recalls: Study

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

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

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

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

Under administration Reader’s Digest UK finds 100 potential buyers

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

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

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

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

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

‘Precious’ dominates Spirit Awards with 5 prizes

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

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

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

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

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

AP Source: LB Dansby agrees to terms with Dolphins

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

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

Bobcats hand Lakers 2nd straight loss, 98-83

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

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

AP source: Falcons agree to terms with CB Robinson

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

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

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

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

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

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

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

Six Flags junior noteholders line up financing

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

Federal mediator appointed for Major League Soccer labor talks

Federal mediator appointed for MLS labor talks

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

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

GAO: FDA should strengthen ingredient oversight

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

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

Gordon: NASCAR needs some rivalries to stir it up

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

Economist predicts improvement in Iowa economy by summer following flat spring

Iowa economist predicts improvement by summer

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

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

Recalls: McCormick mixes, spinach dips, soup

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

Mincing Overseas Spice recalls black pepper over salmonella concerns

Mincing Overseas Spice recalls black pepper

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

BigBand Networks names new Ravi Narula as chief financial officer

BigBand Networks names new Ravi Narula as CFO

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

Correction: Obama-Travel Promotion story

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

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

STIMULUS WATCH: Less stimulus for minority firms

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

G.P.Birla Cremated

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

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

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

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

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

Iran launches new cruise missile production line

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

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

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

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

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

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

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

Recalls: Honey mustard pretzels

Recalls: Pretzels
The following recall has been announced:

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

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

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

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

Stop & Shop reaches deals with 5 NE labor unions

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

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

Early results: Iceland voters reject debt deal

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

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

Glover: Help Ohio plant, shun Hugo Boss at Oscars

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

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

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

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

Finance Minister meets the Directors of the RBI Central Board

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

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

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

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

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

Iceland expected to turn down bank failure repay

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

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

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

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

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

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

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

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

Icelanders vote on deal to repay $5.3 billion

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

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

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

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.

Over 100 … Original source on Gaea Times at : Indian IT companies eye Latin American, African markets for business expansion.

Tax-free budget in Assam, sops for rural poor

GUWAHATI – Assam Chief Minister Tarun Gogoi Monday presented a populist tax-free budget with lots of sops for the rural poor, besides incentives for the education sector, jobs for the unemployed and welfare measures for women in a bid to woo voters ahead of next year’s assembly elections.

The Rs.3.464.46 crore deficit budget for the …. Source article on Gaea Times at  : Tax-free budget in Assam, sops for rural poor.

L&T bags Rs.2,000 crore order from Managalore Petrochemicals

MUMBAI – Engineering and construction major Larsen and Toubro Friday said it has won a Rs.2,035-crore order from the state-run Managalore Petrochemicals, a unit of Oil and Natural Gas Corp.

The fresh order is for setting up a new complex which will manufacture aromatic products like paraxylene and benzene at the Mangalore Special Economic Zone in … Read : L&T bags Rs.2,000 crore order from Managalore Petrochemicals.

Indian fertiliser company set up unit in Ghana

NEW DELHI – Indian Farmers Fertiliser Cooperative (Iffco), a multi-state non-profit organisation, is setting up a unit in Ghana to meet the needs of the African nation and also export the surplus to India, says Vice President John Dramani Mahama.

“We have recently discovered gas in our country. This will be available for fertilisers. Accordingly, Iffco …. Source article on Gaea Times at  : Indian fertiliser company set up unit in Ghana.

US lawmakers step up attacks on China’s currency policies ahead of Nov. elections

US lawmakers attack China ahead of Nov. elections
WASHINGTON – China is once again the country Congress loves to hate.
After a lull last year, U.S. politicians jockeying ahead of crucial November elections have stepped up attacks on China as a way to win support from voters worried that the Asian power is taking American …. Original source  : US lawmakers step up attacks on China’s currency policies ahead of Nov. elections.

Health Care 101: If Obama’s bill passes, the changes start small and keep getting bigger

Health Care 101: A consumer primer on Obama’s bill
WASHINGTON – It took lawmakers a year to shape President Barack Obama’s health care bill. If it finally passes Congress, it’ll take the better part of a decade to write the user manual for consumers and doctors, employers and insurance companies.
Some health insurance consumer protections …. Original source  : Health Care 101: If Obama’s bill passes, the changes start small and keep getting bigger.

Obama travels to Ohio, rallying support for health care overhaul that Dems admit lacks votes

Obama heads to Ohio looking for health care votes
WASHINGTON – Still seeking votes for his proposed health care overhaul, President Barack Obama appears ready to reverse his position and allow unpopular deal-sweetening measures in the hopes of finding Democratic support for legislation whose future will be decided in coming days.
Increasingly eager to finish … Original article on : Obama travels to Ohio, rallying support for health care overhaul that Dems admit lacks votes.

With money and politics at stake, US census forms arrive in the mail; next few weeks critical

US census forms arrive in the mail: What to expect

WASHINGTON – Let the count begin.
More than 120 million U.S. census forms begin arriving Monday in mailboxes around the country, in the government’s once-a-decade population count that will be used to divvy up congressional seats and more than $400 billion in federal aid. Fast-growing states in … Original article on : With money and politics at stake, US census forms arrive in the mail; next few weeks critical.

India-Africa business conclave opens with large African participation

NEW DELHI – Making a strong pitch for scaling up trade and investment with Africa, India’s External Affairs Minister S.M. Krishna Monday inaugurated a two-day conclave that is set to renew economic momentum between the two sides with business projects worth at least $10 billion.

“We wish to make the positive emotive engagement between India …. Source  : India-Africa business conclave opens with large African participation.

Investors meet on Kerala’s Vizhinjam port next month

THIRUVANANTHAPURAM – An investors meet will be held next month for the proposed Vizhinjam port in Kerala and work on the project will start during the tenure of the Left government, Ports Minister M.Vijayakumar told the assembly Monday.

He said the meeting would help identify the investor for the proposed port.
“By November-December, we are confident … Read more »»».

India’s annual inflation rose to 9.89 percent in February

NEW DELHI – Driven by increasing food prices, India’s annual rate of inflation, based on the wholesale price index, rose to 9.89 percent in February from 8.56 percent in the previous month, official data revealed Monday.

The annual inflation rate was 3.5 percent in February 2009.
The latest data released by the commerce ministry showed food …. Read the original article  : here.

Vermont dairyman targeted in immigration probe says he thought workers had proper documents

Vermont dairy farmer talks about immigration probe

BAKERSFIELD, Vt. – A Vermont dairy farmer who was among those targeted in a federal crackdown on undocumented workers says he thought three illegal workers had proper documentation.
Clement Gervais (JAR-vis) believes his family’s farm has been cleared following the November inspection by immigration officials, but federal officials say four …. Read the original article  : here.

Israeli media: US demanding cancellation of contentious east Jerusalem building plan

Reports: US wants Israel to cancel building plan

JERUSALEM – Israeli media reported Monday that the U.S. is pressing Israel to scrap a contentious east Jerusalem building project whose approval has touched off the most serious diplomatic feud with Washington in years.
Top U.S. officials have lined up in recent days to condemn the Israeli plan to … Read the original article on Gaea Times at : Israeli media: US demanding cancellation of contentious east Jerusalem building plan.

Punjab National Bank gets nod for IT subsidiary

NEW DELHI – The state-run Punjab National Bank (PNB), India’s third-largest lending institution, will soon set up an IT susidiary to provide technology-related assistance to the country’s growing financial sector.

“We have the technical know-how in the area of financial services and we want to share this know-how. So we applied for permission and the finance … Read : Punjab National Bank gets nod for IT subsidiary.

Asian stocks fall after mixed reports about US economy; oil dips below $80 a barrel

Asian stocks fall after mixed US economic reports

HONG KONG – Asian stock markets sank Monday after mixed economic reports about the U.S. economy inspired caution among investors.
Major bourses were down as much as 1 percent after a lackluster session on Friday. Oil prices dropped below $81 a barrel and the dollar gained against the euro …. Source article  : Asian stocks fall after mixed reports about US economy; oil dips below $80 a barrel.

Survey: Online news consumers have favorites, but little loyalty, and don’t want to pay

Survey: Readers don’t want to pay for news online

NEW YORK – Getting people to pay for news online at this point would be “like trying to force butterflies back into their cocoons,” a new consumer survey suggests.
That was one of several bleak headlines in the Project for Excellence in Journalism’s annual assessment of the state … Read the original article on Gaea Times at : Survey: Online news consumers have favorites, but little loyalty, and don’t want to pay.

India, US set to boost high-technology trade

WASHINGTON – India and the US hope to significantly expand bilateral cooperation in critical areas like defence/strategic trade, civil nuclear cooperation, biotechnology, nano-technology and civil aviation after two-day talks on high technology starting here Monday.

Indian Foreign Secretary Nirupama Rao arrived here Sunday to co-chair the seventh meeting of the India-US High Technology Cooperation Group (HTCG), … Read this article on Gaea Times at : India, US set to boost high-technology trade.

Money Market Operations as on March 12, 2010

…. Original article  : Money Market Operations as on March 12, 2010.

French voters slap Sarkozy’s conservatives down in round 1 of regional election

Sarkozy’s party humbled by leftists in French vote

PARIS – French voters scarred by economic crisis dealt President Nicolas Sarkozy and his conservative leadership a stern blow Sunday by strongly favoring leftist candidates in regional elections, according to near-complete official results.
Some took their worries about immigration and France’s growing Muslim population to the ballot box – … Read this article on Gaea Times at : French voters slap Sarkozy’s conservatives down in round 1 of regional election.

World’s biggest state wealth fund in oil-rich Abu Dhabi sheds new light with first-ever report

Abu Dhabi sovereign wealth fund starts to open up

ABU DHABI, United Arab Emirates – The Abu Dhabi Investment Authority broke with its customary privacy by issuing its first yearly statement Monday, marking one of the biggest steps yet by the world’s largest sovereign wealth fund to increase transparency.
The document, called an “annual review,” provides a … Original article on : World’s biggest state wealth fund in oil-rich Abu Dhabi sheds new light with first-ever report.

France’s Socalist-led left dominate Sarkozy’s conservatives in regional election

Sarkozy’s party loses first-round vote in France

PARIS – France’s Socialist-led left defeated Nicolas Sarkozy’s conservatives in the first round of regional elections Sunday, according to partial official results, in a new blow to the increasingly unpopular president.
Many voters blame Sarkozy and the governing conservatives for failing to protect jobs amid France’s worst economic downturn since … Original article on : France’s Socalist-led left dominate Sarkozy’s conservatives in regional election.

Eagle conferencing offers subscribers free conferencing to U.K

LONDON/ BANGALORE – Eagle Conferencing in a significant move has introduced a new offer to subscribers providing free conference calls between India and the U.K.

This groundbreaking and aggressive pricing design allows organizations registered with Eagle Conferencing to conduct audio conferences with business partners or …. Source article on Gaea Times at  : Eagle conferencing offers subscribers free conferencing to U.K.

Britain set to lose clash with France on new hedge fund rules

UK clashes with France on hedge fund rules

BRUSSELS – Britain, Europe’s center for investment funds, is set to lose a clash with France on new, tougher EU rules for the hedge fund industry that finance ministers will haggle over on Tuesday.
Paris leads most EU governments in favoring greater restrictions for alternative investment funds based outside …. Source  : Gaea News Network.

Obama turns up the heat on wavering Dems as lawmakers start countdown toward health care vote

Wavering Dems in Obama’s sights on health vote
WASHINGTON – Days away from a make-or-break vote on his health care overhaul, President Barack Obama is turning up the pressure as only presidents can, as Democratic leaders make a desperate scramble for votes.
The president is wooing freshman Democrats in the Oval Office, holding at least … Read the original article on Gaea Times at : Obama turns up the heat on wavering Dems as lawmakers start countdown toward health care vote.

PROMISES, PROMISES: AP review finds government use of FOIA exemptions up despite Obama pledge

PROMISES, PROMISES: Is gov’t more open with Obama?
WASHINGTON – The government’s use of legal exemptions to keep records secret rose during President Barack Obama’s first year in office, despite promises of increased openness, an Associated Press review found.
The review of annual Freedom of Information Act reports filed by 17 major agencies found that … Read more »»».

Michelle Obama takes campaign to end childhood obesity to the country’s largest food makers

Michelle Obama talks anti-obesity to food giants

WASHINGTON – Michelle Obama has talked to schools and nutrition groups across the country in her effort to reduce childhood obesity. On Tuesday she will face the food companies that make the snacks and junk food that stuff grocery aisles and school vending machines.
Not that the companies mind. The … Read more »».

Oil hovers below $80 in Asia as investors eye US Federal Reserve, OPEC meetings

Oil below $80 ahead of Fed, OPEC meetings
SINGAPORE – Oil prices extended losses below $80 a barrel Tuesday in Asia as investors eyed meetings of the U.S. central bank and OPEC for trading catalysts.

Benchmark crude for April delivery was down 17 cents to $79.63 a barrel at late afternoon Singapore time in electronic trading on … Read more >>>.

Asian stock markets turn in mixed performance ahead of Fed statement; oil below $80

Asian stocks mixed ahead of Fed statement
HONG KONG – Asian stock markets were mixed Tuesday as investors held back ahead of the U.S. Federal Reserve’s latest assessment of the world’s largest economy.

It marked the region’s third consecutive day of mediocre trade. Oil prices wallowed below $80 a barrel, while the dollar weakened against the yen … Read this article on Gaea Times at : Asian stock markets turn in mixed performance ahead of Fed statement; oil below $80.

Dueling financial reform plans in US, Europe, Asia could hurt efforts to avoid future crises

Financial reform efforts pit US against Europe

NEW YORK – U.S. policymakers are struggling to agree on new rules to avoid another financial crisis.
A global consensus? Even harder.
Efforts are raging on three continents, with at least as many ideas about the proper fixes. Unless the U.S., Europe and Asia adopt uniformly strict regulations, banks and high-risk … Read more : Dueling financial reform plans in US, Europe, Asia could hurt efforts to avoid future crises.

Debate heats up at Fed over how and when to signal higher interest rates

Fed weighs how and when to signal higher rates

WASHINGTON – Debate is heating up within the Federal Reserve over how and when to signal that the days of record-low interest rates are numbered.
A rate hike isn’t imminent. But at their meeting Tuesday, Federal Reserve Chairman Ben Bernanke and his colleagues will likely focus on how … Read more »»».

Jackson estate cuts up to $250 million posthumous recording deal with Sony Music

Jackson estate in record deal worth up to $250 mln

LOS ANGELES – Even in death, Michael Jackson is breaking new records.
The King of Pop’s estate has signed the biggest recording deal in history: a $200 million guaranteed contract with Sony Music Entertainment for 10 projects over seven years, according to a person familiar with the …. Original article  : Jackson estate cuts up to $250 million posthumous recording deal with Sony Music.

Obama pitches health care as Dems point toward a vote and progress in courting lawmakers

Dems start countdown toward health care vote
WASHINGTON – Democratic congressional leaders showed signs of progress Monday in winning anti-abortion Democrats whose votes are pivotal to President Barack Obama’s fiercely contested remake of the health care system.
Obama expressed optimism Congress would approve his call for affordable and nearly universal coverage as he … Read more »».

Dot-com domain marks 25th anniversary

SAN FRANCISCO – The dot-com domain, which helped launch some of the most pioneering and successful internet companies, marked its 25th anniversary Monday.

“For anyone under the age of 30, they probably don’t remember when the Internet wasn’t in their life. It’s become such an essential part of how we work, live and play,” said Mark … Read : Dot-com domain marks 25th anniversary.

Mo. warns renters seeking tax credit that to qualify their landlords must pay property taxes

Landlords must pay taxes for renters to get credit

COLUMBIA, Mo. – Missouri tax officials are warning people who live in rented housing that they do not qualify for a tax break unless their landlords pay property taxes.
Low-income disabled people and senior citizens are entitled to a property tax credit on their state tax returns of … Original article on : Mo. warns renters seeking tax credit that to qualify their landlords must pay property taxes.

25 people confirmed dead in electrical fire at coal mine in central China

25 dead in central China coal mine fire
BEIJING – An electrical fire at an illegal coal mine in central China has left 25 people dead, the latest fatal accident to rock the country’s mining industry.

Three people – the mine’s owner, manager and an investor – have been detained by police following the Monday night blaze … Read more »»».

People familiar with negotiations: Mark Reynolds, Arizona agree to $14.5 million, 3-year deal

AP source: Arizona, Reynolds agree to $14.5M deal

TUCSON, Ariz. – Arizona slugger Mark Reynolds says he’s agreed to terms on a new contract with the Diamondbacks.
Two people familiar with the talks said on Monday that the deal was worth $14.5 million over three years and includes an $11 million club option for 2013. They spoke …. Source article on Gaea Times at  : People familiar with negotiations: Mark Reynolds, Arizona agree to $14.5 million, 3-year deal.

US unveils new broadband plan

WASHINGTON/SAN FRANCISCO – The US government has unveiled a new plan for high-speed internet access that will give the US “the fastest and most extensive wireless network in the world”, according to an executive summary of the proposal released Monday by the Federal Communications Commission (FCC).

The plan formulated by the FCC heralds a revolution in …. Source  : US unveils new broadband plan.

California pension fund makes move that is likely to increase its influence over corporations

Calif. pension fund seeks to boost its influence

SACRAMENTO, Calif. – The board of California’s giant public pension fund voted Monday to remove the limit on the number of shareholder proposals it can issue to companies in its portfolio.
Lifting the number of proposals its board can file each year means the fund’s influence is likely to …. Original source  : California pension fund makes move that is likely to increase its influence over corporations.

New lending at 9 bailed-out banks plummets in January, but overall loan balances rise modestly

9 bailed-out banks report declines in new lending

WASHINGTON – The Treasury Department said Monday that new lending plummeted in January at the nine largest banks that have yet to repay their taxpayer bailouts.
Treasury’s monthly survey of bank lending shows overall new loan origination dropped 35 percent from December’s level. Treasury says the drop “may be …. Source article on Gaea Times at  : New lending at 9 bailed-out banks plummets in January, but overall loan balances rise modestly.

Abbott Laboratories gives CEO almost $22 million in pay, down on lower stock options

Abbott CEO’s pay falls on reduced stock options

WASHINGTON – The chairman and CEO at Abbott Laboratories received a 13 percent drop in total compensation last year, mainly as a result of reduced stock options.
The North Chicago-based company disclosed in a regulatory filing Monday that Miles White’s total compensation as $21.9 million, down from $25.3 million …. Source  : Gaea News Network.

Mo. utility regulators consider AmerenUE’s request to increase electric rates $320M

Mo. regulators consider AmerenUE’s $320M rate case

JEFFERSON CITY, Mo. – Customers of Missouri’s largest electricity provider appear likely to see a rate increase. The biggest question is how much more they will pay.
State utility regulators began hearing testimony Monday on a rate increase sought by St. Louis-based AmerenUE, whose 1.2 million customers are located largely …. Original source  : Mo. utility regulators consider AmerenUE’s request to increase electric rates $320M.

Va. man named as passenger in small plane that struck, killed jogger during SC beach landing

Va. man was passenger in plane that killed jogger

HILTON HEAD ISLAND, S.C. – Authorities say a Virginia man was the passenger in a small plane that hit and killed a jogger during an emergency landing on a South Carolina beach.
The Island Packet newspaper in Hilton Head reported that the sheriff’s office Tuesday named the passenger … Original source on Gaea Times at : Va. man named as passenger in small plane that struck, killed jogger during SC beach landing.

German retailer Metro net income down 7 percent in 2009 to $716 million

Metro 2009 net income falls 7 percent
FRANKFURT – German retailer Metro AG says its 2009 net income fell 7 percent to euro519 million ($716 million) as the economic downturn cut into sales at most divisions, including its Kaufhof department stores and Cash & Carry wholesale outlets.

Metro, Germany’s biggest retail group, reported net income of euro558 … Read : German retailer Metro net income down 7 percent in 2009 to $716 million.

Asian markets climb as US, Japan central bank moves buoy recovery hopes; oil cracks $82

Asia stocks up after US, Japan central bank moves

HONG KONG – Asian stock markets pushed higher Wednesday as U.S. and Japanese central banks promised to maintain loose monetary policies, buoying hopes for recovery in the world’s two largest economies.
Major markets advanced as much as 2 percent and crude oil prices cracked $82 a barrel as … Read the original article on Gaea Times at : Asian markets climb as US, Japan central bank moves buoy recovery hopes; oil cracks $82.

Italy’s largest bank Unicredit says 4th quarter earns fell 27 percent

Unicredit Q4 profit slides 27 percent
MILAN – Unicredit SpA, Italy’s largest bank, on Wednesday reported a 27 percent drop in fourth-quarter net profit due to a decline in interest income and an increase in provisions to cover bad loans.

The net profit of ???371 million ($509 million) was down from ???505 million a year earlier.
The bank … Read this article on Gaea Times at : Italy’s largest bank Unicredit says 4th quarter earns fell 27 percent.

Senate poised to clear jobs bill for Obama’s signature

Senate poised to clear jobs bill for Obama
WASHINGTON – Companies that hire unemployed workers get a temporary payroll tax holiday under a bill headed for likely Senate passage Wednesday.
A positive vote would send the legislation to the White House for President Barack Obama’s signature.
It would be the first of several election-year jobs bills …. Source article  : Senate poised to clear jobs bill for Obama’s signature.

FACT CHECK: Obama’s claim that premiums would fall under his health plan misses the fine print

FACT CHECK: Premiums would rise under Obama plan
WASHINGTON – Buyers, beware: President Barack Obama says his health care overhaul will lower premiums by double digits, but check the fine print.
Premiums are likely to keep going up even if the health care bill passes, experts say. If cost controls work as advertised, … Read more : FACT CHECK: Obama’s claim that premiums would fall under his health plan misses the fine print.

Plane lands on SC beach, killing jogger who never knew what hit him

Beach jogger killed by plane likely never heard it

HILTON HEAD ISLAND, S.C. – The kit-built single-engine plane had turned into a glider, almost silently trying to make an emergency landing along a stretch of beach. Pharmaceutical salesman Robert Gary Jones, ear buds in, listening to his iPod while jogging neither saw nor heard it and … Read more >>.

Paper company’s need for wood highlights problems with tree-destroying US gypsy moths

Need for wood highlights US insect problems

COLUMBIA, S.C. – International Paper Co. has had to look beyond its usual suppliers for wood for its central South Carolina mill and turn to places that are known to have tree-destroying gypsy moths.
That’s because months of rainfall in most of the South has left the ground soggy, which …. Source  : Paper company’s need for wood highlights problems with tree-destroying US gypsy moths.

Oil rises above $82 in Asia as US crude supply report suggests demand may be improving

Oil above $82 as traders eye US supplies, OPEC

SINGAPORE – Oil prices rose above $82 a barrel Wednesday in Asia after a report showed U.S. crude inventories grew less than expected last week.
Benchmark crude for April delivery was up 55 cents to $82.25 a barrel at late afternoon Singapore time in electronic trading on the …. Source article on Gaea Times at  : Oil rises above $82 in Asia as US crude supply report suggests demand may be improving.

Asian markets push higher as Fed, Greece news buoy confidence; HK up nearly 2 pct

Asia stocks up as Fed, Greece news buoy confidence

HONG KONG – Asian stock markets pushed higher Wednesday after the U.S. central bank again pledged to hold interest rates low and gave a mildly optimistic assessment of the world’s largest economy.
Major markets advanced by 1 percent or more and crude oil prices cracked $82 a barrel [..] Read the original article: here.

Mexico’s government announces austerity plan to trim spending $3 billion over 3 years

Mexico announces austerity plan to save $3 billion

MEXICO CITY – Mexico’s government has announced an austerity plan for trimming general spending $3.2 billion (40.1 billion pesos) over the next three years so it can provide more money for social and infrastructure programs.
The Finance Department says the plan includes a freeze on pay raises this year …. Original source  : Mexico’s government announces austerity plan to trim spending $3 billion over 3 years.

State prison population drops for 1st time since 1972; report suggests budget woes responsible

State prison numbers drop for 1st time since 1972

NEW YORK – Spurred by budget crises, California and Michigan together reduced their prison populations by more than 7,500 last year, contributing to what a new report says is the first nationwide decline in the number of state inmates since 1972.
The overall drop was slight, according to … Original article on : State prison population drops for 1st time since 1972; report suggests budget woes responsible.

Money Market Operations as on March 15, 2010

…. Source article  : Money Market Operations as on March 15, 2010.

Visteon bankruptcy judge denies request to halt termination of retiree benefits pending appeal

Visteon judge won’t halt benefits termination

WILMINGTON, Del. – A Delaware bankruptcy judge on Tuesday refused to halt implementation of his order allowing auto parts supplier Visteon Corp. to terminate its retirees’ health and life insurance benefits.
An attorney for a union representing some 2,100 people who worked at two Visteon plants in Indiana argued Tuesday that … Read more : Visteon bankruptcy judge denies request to halt termination of retiree benefits pending appeal.

Recalled products linked to potential salmonella risk: Tostachos corn chips, onion dip mix

Product recalls: Tostachos corn chips, dip mix

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:
Barcel USA is recalling certain lots of Tostachos. The recalled flavored corn chips come in 3.17-ounce packages and …. Original article  : Recalled products linked to potential salmonella risk: Tostachos corn chips, onion dip mix.

Senators introduce bill to pressure China to allow currency to rise in value against dollar

Senators back bill to pressure China on currency
WASHINGTON – A group of 14 U.S. senators unveiled legislation Tuesday that seeks to increase pressure on China to let its currency to rise in value against the dollar, saying Chinese “currency manipulation” is hurting the U.S. economy.
The bill calls for stiff trade sanctions if China …. Original source  : Senators introduce bill to pressure China to allow currency to rise in value against dollar.

Rockford jobless rate nears 20 percent; 11 of 12 metro area rates at 10 percent or higher

Rockford jobless rate nears 20 percent
CHICAGO – The greater Rockford area is just a few tenths of a point shy of an inglorious milestone: a 20 percent jobless rate.

Data released Tuesday showed none of Illinois’ top 12 metropolitan regions are fairing well, but unemployment in the Rockford area is the state’s highest at 19.7 percent.
“It … Read more »»».

Bernanke to make case for Federal Reserve keeping all banking supervision powers

Bernanke to wage fresh battle for Fed powers

WASHINGTON – Federal Reserve Chairman Ben Bernanke plans to wage a fresh battle against Senate efforts to scale back the Fed’s role in supervising the nation’s banks.
In testimony prepared for a House hearing on Wednesday obtained by The Associated Press, Bernanke argued that the Fed factors in information … Read this article on Gaea Times at : Bernanke to make case for Federal Reserve keeping all banking supervision powers.

15 GOP lawmakers join Democrats in rejecting Senate earmark ban

Senate rejects freeze on earmarks
WASHINGTON – The Senate on Tuesday easily killed a move by conservative Republicans to temporarily ban senators from earmarking spending bills with back-home projects like roads, water projects and grants to local governments.

Fifteen Republicans joined with most Democrats in rejecting the moratorium on earmarks by a 68-29 vote.
It’s a far different … Original source on Gaea Times at : 15 GOP lawmakers join Democrats in rejecting Senate earmark ban.

Nebraska lawmakers begin closing budget gap, but have eye toward a bigger hole in future

Neb. lawmakers begin closing budget gap
LINCOLN, Neb. – Nebraska lawmakers on Tuesday gave first-round approval to a plan to close a roughly $48 million gap in the current, two-year state budget while casting an eye toward what could be a massive budget hole next year.

“There’s not much that would have to go awry and we [..] Read the original article: here.

Calif. state parks would be smoke-free (mostly) if Legislature passes landmark bill

Calif. considers smoking ban at all state parks

SACRAMENTO, Calif. – California lawmakers on Thursday will consider what is believed to be the nation’s most far-reaching smoking ban in state parks as a way to get unsightly cigarette butts off the beach, eliminate second-hand smoke and reduce the threat of wildfires.
Maine banned smoking at its state … Read more >>>.

Corporation Bank LIC Tie Up

MANGALORE, INDIA (GaeaTimes.com)- Corporation Bank, based in Mangalore is on an expansion overdrive as it seems from its recent activities. It is planning to open a number of new branches in India and to fill up the vacancies it has issued recruitment notice. Apart from that, the bank has also formed an alliance with …. Original source  : Corporation Bank LIC Tie Up.

Texas Rangers manager Ron Washington apologizes for “one-time” cocaine use

Rangers manager tested positive for coke
PEORIA, Ariz. – Before he could end a long day unlike any in his professional career, Ron Washington had to prepare for a game.

Hours after admitting he made a “huge mistake” by using cocaine – he says for the first and only time – and failing a Major League Baseball … Read the original article on Gaea Times at : Texas Rangers manager Ron Washington apologizes for “one-time” cocaine use.

Reserve Bank Cancels the Licence of Rahuri Peoples Co-operative Bank Ltd., Rahuri. Maharashtra

In view of the fact that Rahuri Peoples Co-operative Bank Ltd., Rahuri. Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered …. Read the original article  : Reserve Bank Cancels the Licence of Rahuri Peoples Co-operative Bank Ltd., Rahuri. Maharashtra.

Asian stock markets mostly lower while euro slides amid concerns about Greece

Asian stock markets mostly lower, euro falls

HONG KONG – Asian stock markets were mostly lower Thursday while the euro weakened after Greece said it might seek international assistance to resolve its debt crisis.
The largely muted trade came after Wall Street advanced for the seventh straight day. Oil prices fell to near $82 a barrel.
Global markets … Read the original article on Gaea Times at : Asian stock markets mostly lower while euro slides amid concerns about Greece.

UAW OKs severance agreement in shutdown of Toyota plant in Calif.

UAW OKs severance pact in Calif. plant shutdown

FREMONT, Calif. – The union that represents workers at the New United Motor Manufacturing Inc., known as Nummi, have voted in favor of a proposed severance package for the 4,600 workers about to lose their jobs when the plant closes, according to a United Auto Workers official.
Though unable …. Source article  : UAW OKs severance agreement in shutdown of Toyota plant in Calif..

Oil falls to near $82 in Asia after 2-day rally on brighter US demand outlook

Oil falls to near $82 after 2-day rally
SINGAPORE – Oil prices fell to near $82 a barrel Thursday in Asia, paring two days of gains that were fueled by signs U.S. crude demand may be improving.

Benchmark crude for April delivery was down 75 cents to $82.18 a barrel at late afternoon Singapore time in electronic … Read the original article on Gaea Times at : Oil falls to near $82 in Asia after 2-day rally on brighter US demand outlook.

Toyota chief says worker development failed to keep up with automaker’s rapid growth

Toyota chief says training lapsed amid fast growth

TOKYO – Toyota’s training of workers to maintain quality control failed to keep up with the company’s rapid growth, its president Akio Toyoda said in an interview with a major Japanese business daily.
Toyoda, grandson of the automaker’s founder, said the problem became especially acute after Toyota’s global production … Read this article on Gaea Times at : Toyota chief says worker development failed to keep up with automaker’s rapid growth.

Report: Former top North Korean official executed for botched currency reform

Report: North Korean executed over currency reform

SEOUL, South Korea – North Korea executed a former senior official last week as punishment for the country’s botched currency reform, a news report said Thursday.
In November, North Korea redenominated its currency as part of efforts to lower inflation and reassert control over the country’s nascent market economy. However, …. Original source  : Report: Former top North Korean official executed for botched currency reform.

Money Market Operations as on March 17, 2010

… Read : Money Market Operations as on March 17, 2010.

Hooters workers sue restaurant chain, some Calif. locations over alleged wage, work violations

Hooters employees sue over work, wage violations

SACRAMENTO, Calif. – Three dozen current and former Hooters workers are suing over work and wage violations, saying they were forced to buy their own uniforms and work without pay.
Attorneys representing the former and current employees filed two lawsuits seeking class-action status Tuesday in Sacramento and Los Angeles. They … Read the original article on Gaea Times at : Hooters workers sue restaurant chain, some Calif. locations over alleged wage, work violations.

APNewsBreak: Report alleges Afghan security contractor fired shots that killed Indiana Marine

Report alleges Afghan contractor shot Ind. Marine

INDIANAPOLIS – The U.S. Marine Corps’ investigation of the February death of an Indiana Marine in Afghanistan concludes that he was fatally shot when an Afghan security contractor fired shots at a group of Marines.
The Marine Corps’ report, obtained Wednesday by The Associated Press through a Freedom of Information …. Source  : Gaea News Network.

Pennsylvania lawmaker calls health care ad outrageous and untrue, but group refuses to halt it

Lawmaker says health care ad distorts and hurts

WASHINGTON – A Pennsylvania lawmaker whose parents recently died of cancer is among the targets of an ad campaign by a conservative group that questions congressional Democrats’ interest in preventing the disease.
Democratic Rep. Kathy Dahlkemper said she was outraged by the ad, part of a widespread campaign in … Read more »».

Blacks must leave store, NJ Walmart announcer says, upsetting customers; company investigates

Black people must leave, NJ Walmart announcer says

WASHINGTON TOWNSHIP, N.J. – A Walmart store announcement ordering black people to leave brought chagrin and apologies Wednesday from leaders of the company, which has built a fragile trust among minority communities.
A male voice came over the public-address system Sunday evening at a store in Washington Township, in …. Read the original article  : Blacks must leave store, NJ Walmart announcer says, upsetting customers; company investigates.

Judge orders repair of treatment plants in US Virgin Islands after waste dumped into ocean

USVI judge orders halt to waste dumped in ocean

CHARLOTTE AMALIE, U.S. Virgin Islands – Federal authorities won a court order Wednesday requiring officials in this U.S. territory to repair sewage plants that have dumped raw waste at beaches renowned for snorkeling and surfing.
The islands’ Waste Management Authority dumped more than 50 million gallons (189 million … Original article on : Judge orders repair of treatment plants in US Virgin Islands after waste dumped into ocean.

Theravance says it will sell new stock to raise money for drug research or other purposes

Theravance plans to sell 7.5M shares of stock

SOUTH SAN FRANCISCO, Calif. – Drug developer Theravance Inc. said Wednesday it will sell 7.5 million shares of stock to raise money for general corporate purposes.
Theravance said the underwriters of the offering will have the option to buy another 1.1 million shares. The joint book-running managers of the [..] Read the original article: here.

Group: Idaho first to sign law that would sue federal government over health care overhaul

Idaho first to sign law aimed at health care plan
BOISE, Idaho – Idaho took the lead in a growing, nationwide fight against health care overhaul Wednesday when its governor became the first to sign a measure requiring the state attorney general to sue the …. Source  : Gaea News Network.

New rule on tarmac delays will come too late to help Virgin America fliers stranded in NY

New delay rule comes too late for Virgin fliers

NEW YORK – A new federal rule that is supposed to prevent travelers from being stranded on airport tarmacs will be implemented too late to help Virgin America passengers marooned for 4?? hours at a little-used New York airport.
Virgin America Flight 404 was forced to land at …. Original article on Gaea Times at  : New rule on tarmac delays will come too late to help Virgin America fliers stranded in NY.

Group: Idaho first to sign law that would sue federal government over health care reform

Idaho first to sign law against health care reform
BOISE, Idaho – Idaho is leading the charge in a states-rights push to defeat a proposal in Congress that would require people to buy health insurance, a key piece of reforms being pushed by President Barack Obama.
Republican Gov. C.L. “Butch” Otter used a ceremony Wednesday …. Source  : Gaea News Network.

McGraw-Hill Construction renews publishing deal with Associated General Contractors of America

McGraw-Hill renews magazine deal with contractors

ORLANDO, Fla. – McGraw-Hill Construction, part of publishing house The McGraw-Hill Companies Inc., said Wednesday it extended its publishing agreement with the Associated General Contractors of America for two more years.
McGraw-Hill Construction said it will continue to print “Constructor,” the official magazine of the contractors association, and produce the contractors’ … Read : McGraw-Hill Construction renews publishing deal with Associated General Contractors of America.

World stock markets gain as US economic reports boost sentiment; Tokyo up nearly 1 pct

World stock markets gain after US economic reports

HONG KONG – World stock markets turned higher Friday as modestly positive reports about the U.S. economy underpinned optimism about the global recovery.
Asian markets fluctuated earlier in the day before trading largely green while Europe opened moderately higher. Oil prices slipped below $82 a barrel, and the dollar …. Original article  : World stock markets gain as US economic reports boost sentiment; Tokyo up nearly 1 pct.

No new tax in Tamil Nadu deficit budget for 2010-11

CHENNAI – Tamil Nadu Finance Minister K. Anbazhagan Friday presented a deficit budget with no additional tax for the financial year 2010-11.

“The total revenue receipts of the government for 2010-11 are estimated at Rs.63,091.74 crore and the total revenue expenditure is estimated at Rs.66,488.19 crore. Accordingly, the revenue deficit is estimated at Rs.3,396.45 crore,” he … Read more : No new tax in Tamil Nadu deficit budget for 2010-11.

Health care bill would increase wage taxes, add new levy on investments for high earners

Health care bill extends wage tax to investments
WASHINGTON – High-income families would be hit with a tax increase on wages and a new levy on investments under President Barack Obama’s health care overhaul bill.
For the first time, the Medicare payroll tax would be applied to investment income, beginning in 2013. A new 3.8 … Read the original article on Gaea Times at : Health care bill would increase wage taxes, add new levy on investments for high earners.

Lloyds Banking Group expects to report a profit for 2010, says impairments less than expected

Lloyds Banking Group expects profit this year

LONDON – Britain’s Lloyds Banking Group PLC said Friday it expects to report a profit this year as trading has so far been strong and provisions for bad assets are not as large as previously forecast.
In a brief statement, the part-nationalized bank said that in the first 10 weeks …. Original source  : Lloyds Banking Group expects to report a profit for 2010, says impairments less than expected.

PROMISES, PROMISES: Obama, activists make noise on immigration overhaul, but what happens now?

PROMISES, PROMISES: Obama in immigration dance
WASHINGTON – President Barack Obama promised to make overhauling the immigration system a top priority in his first year as president. He’s now in Year Two, and the odds that he’ll get to sign a bill before the November midterm elections appear long.
Grass-roots activists are frustrated …. Original article on Gaea Times at  : PROMISES, PROMISES: Obama, activists make noise on immigration overhaul, but what happens now?.

Asian stock markets gain as US economic reports boost sentiment; Tokyo up nearly 1 pct

Asian stock markets gain after US economic reports

HONG KONG – Most Asian stock markets turned higher Friday as modestly positive reports about the U.S. economy underpinned optimism about the global recovery.
Markets fluctuated earlier in the day before trading largely green. Oil prices slipped below $82 a barrel, and the dollar gained against the yen and … Original article on : Asian stock markets gain as US economic reports boost sentiment; Tokyo up nearly 1 pct.

Democrats on track for health care vote Sunday as Obama, leaders pressure wavering lawmakers

Democrats push toward Sunday vote on health care
WASHINGTON – Slowly but steadily, support is building behind President Barack Obama’s health care legislation in the House, the result of intense lobbying and politically targeted changes aimed at reassuring waverers and winning over critics.
Obama himself was to talk up the sweeping overhaul in a midday … Original article on : Democrats on track for health care vote Sunday as Obama, leaders pressure wavering lawmakers.

SC Gov. agrees to pay $74,000 in ethics fines over travel, spending; His divorce becomes final

SC gov agrees to pay ethics fine, gets divorced

COLUMBIA, S.C. – South Carolina Gov. Mark Sanford has closed two chapters of his life, agreeing to pay $74,000 in fines to resolve ethics charges brought against him after last summer’s revelation of an extramarital affair, and receiving word that a judge had formally ended his 20-year …. Original article  : SC Gov. agrees to pay $74,000 in ethics fines over travel, spending; His divorce becomes final.

Fight over India bid drives Nepal to passport disaster

KATHMANDU – April 1 bodes to be no laughing matter for Nepal with the fledgling republic heading for a passport disaster as the ruling parties continue to bicker over a bid by an Indian company to print new passports.

As per the norms of the International Civil Aviation Organisation (ICAO), Nepal needs to switch over to …. Original article on Gaea Times at  : Fight over India bid drives Nepal to passport disaster.

MSK Projects: Welspun-Gujarat Takeover

MUMBAI, INDIA (GaeaTimes.com)- Welspun-Gujarat Stahl Rohren, which happens to be pipe manufacturers had declared its decision of taking over a control stake which is linked to the construction firm MSK Projects India. The stake is quoted at 400 crore.
However, the subsidiary of Welspun Infratech shall only be taking charge over 75% stake involved in … Read more »»».

Bank of Baroda Unveils US Expansion

MUMBAI, INDIA (GaeaTimes.com)- The third biggest public sector bank of India, BOB or Bank of Baroda is about to open a branch in Houston in USA. The leaders in the regional Indian-American community think that it would be good to see a leading Indian origin bank starting operations in Houston. It may pave … Read : Bank of Baroda Unveils US Expansion.

‘Way paved for excellent commercial outcome of Obama visit’

WASHINGTON – The groundwork has been laid for an “excellent trade and commercial outcome” of President Barack Obama’s expected visit to India later this year, Commerce and Industry Minister Anand Sharma said here.

“I believe through these meetings we have been able to build the groundwork of an excellent trade and commercial outcome for the forthcoming … Read this article on Gaea Times at : ‘Way paved for excellent commercial outcome of Obama visit’.

Samsung sees strong 2010, aims for double-digit sales growth as global economy expands

Samsung aims for double-digit sales growth

SEOUL, South Korea – Samsung Electronics predicted a strong 2010 as economic expansion in advanced and large developing economies gains speed and said it is aiming for double-digit sales growth from last year’s record high.
The world’s largest manufacturer of flat screen televisions and second-biggest seller of mobile phones held its … Read this article on Gaea Times at : Samsung sees strong 2010, aims for double-digit sales growth as global economy expands.

China calls on Washington to cool ‘emotionalization’ on currency, warns of risks of yuan rise

China calls on Washington cool yuan pressure
BEIJING – China stepped up resistance Friday to U.S. pressure over currency, calling on Washington to cool its “politicization and emotionalization” of the issue and warning a further rise in its yuan could drive exporters out of business.
Beijing is trying to head off pressure from U.S. lawmakers …. Read the original article  : here.

Oil drifts below $82 in Asia as month-long rally stalls

Oil drifts below $82 as month-long rally stalls

\SINGAPORE – Oil prices drifted below $82 a barrel Friday in Asia, pulling back from a monthlong rally that was fueled by mostly positive news about the U.S. economy.
Benchmark crude for April delivery was down 28 cents to $81.92 a barrel at late afternoon Singapore time in electronic … Read more »».

Asian stock markets mixed as Greece uncertainty weighs; oil slips below $82 a barrel

Asian markets mixed as Greece uncertainty weighs

HONG KONG – Asian stock markets turned in a mixed performance Friday, fluctuating as uncertainty over debt-laden Greece weighed on investors.
A number of markets were little changed, while oil prices slipped below $82 a barrel and the dollar gained against the yen and weakened against the euro.
Investors were unnerved …. Original article  : Asian stock markets mixed as Greece uncertainty weighs; oil slips below $82 a barrel.

India wants US help to become a world-class manufacturing hub

WASHINGTON – India has invited US companies to take advantage of its rapid growth and help shape the country into a world-class manufacturing hub with greater investment in its infrastructure.

“Just as our strategic partnership has matured and grown, Indo-US trade and investment has increased dramatically over the past 20 years,” India’s Commerce and Industry Minister … Original source on Gaea Times at : India wants US help to become a world-class manufacturing hub.

Money Market Operations as on March 18, 2010

… Read more >>>.

Agent: general manager Scot McCloughan still with San Francisco 49ers as of now

Agent: GM McCloughan still with 49ers _ for now

SANTA CLARA, Calif. – The agent for San Francisco 49ers general manager Scot McCloughan said Thursday night his client is still employed by the team – for now, anyway.
Peter Schaffer, McCloughan’s representative, told The Associated Press in a phone interview that he has “not heard any different” …. Original article  : Agent: general manager Scot McCloughan still with San Francisco 49ers as of now.

Ill. high court: Hospital doesn’t provide enough charitable services to get tax-exempt status

Ill. high court: Hospital shouldn’t be tax exempt

CHICAGO – The state Supreme Court ruled Thursday that an Urbana hospital doesn’t provide enough charitable services to qualify for a property tax exemption, a decision hospitals in Illinois worry could lead local governments to try to overturn other exemptions in a hunt for badly needed cash.
National hospital … Read more >>.

Global voices join against privatisation, anti-worker policies

CHANDIGARH – Workers across the world are against privatisation and capitalism and a global policy should be formed to prevent discrimination against workers, said communist leaders from European, Asian and Latin American countries gathered here to share their common concerns over unemployment, low wages, poor working conditions and privatization.

Rosane Bertotti, communication secretary of the biggest …. Original article on Gaea Times at  : Global voices join against privatisation, anti-worker policies.

Uproar in Nepal as Indian firm wins passport bid

KATHMANDU – Nepal’s ruling parties are pitted against one another and the Maoists have joined the uproar as Nepal’s government finally decided to award a prestigious contract for printing smart passports to a state-owned company in India.

The Nasik-based Security Printing and Minting Corporation of India has bagged the contract to print 4 million machine-readable Nepali … Read : Uproar in Nepal as Indian firm wins passport bid.

Abortion still a sticking point, undecideds tilt Obama’s way ahead of Sunday’s vote

Obama making final health care pitch to House Dems
WASHINGTON – Claiming unstoppable momentum but still short of the goal line, President Barack Obama is heading to Capitol Hill to rally House Democrats for a final push on landmark health care legislation.
The battle tilted in Obama’s direction Friday as more Democrats revealed their positions. …. Source article on Gaea Times at  : Abortion still a sticking point, undecideds tilt Obama’s way ahead of Sunday’s vote.

British Airways crew launches 3-day strike, forcing airline to cancel thousands of flights

Thousands of BA flights canceled as crew on strike

LONDON – British Airways was scrambling to deal with a three-day strike launched by cabin crew Saturday, throwing the plans of tens of thousands of travelers into chaos and risking harm to the Labour government before a tough general election.
BA chartered planes from rival airlines, drafted in …. Source article on Gaea Times at  : British Airways crew launches 3-day strike, forcing airline to cancel thousands of flights.

SilkAir to fly to Bangalore, Chennai

THIRUVANANTHAPURAM – SilkAir, the regional wing of Singapore Airlines, will soon fly daily to Bangalore and Chennai.

The airline would introduce the flights between Singapore and Bangalore from May 17 and between Singapore and Chennai from June 14 to compliment Singapore Airlines’ existing daily flights to both cities.
“SilkAir is very excited to introduce services to …. Source  : SilkAir to fly to Bangalore, Chennai.

Bank Of Baroda Steps Into Insurance

MUMBAI, INDIA (GaeaTimes.com)- It seems that Bank of Baroda, the third largest public sector banking institution in India is on an expansion overdrive. It is not only looking forward to opening more branched in India and abroad but is also trying to venture into hitherto untapped segments in 2010. In a recent move, …. Source article on Gaea Times at  : Bank Of Baroda Steps Into Insurance.

Costlier milk pinches Delhiites

NEW DELHI – Already battling rising food prices, Delhiites got a rude shock Saturday as Mother Dairy, one of the biggest suppliers of milk in and around the capital, raised its price by Rs.2 per litre.

Mother Dairy said the hike was forced by an increase in the procurement prices.
As per the revised rates, a …. Read the original article  : Costlier milk pinches Delhiites.

Sensex outperforms global indices, gains 2.4 percent (Weekly Market Review)

MUMBAI – Benchmark indices of Indian equities outperformed their global peers over the week, even though the rally ran out of steam in the last two days.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up 411.61 points or 2.4 percent to end at 17,578.23 points Friday.
The broader S&P CNX …. Source  : Sensex outperforms global indices, gains 2.4 percent (Weekly Market Review).

Himachal’s CRI resumes vaccine production

SHIMLA – Himachal Pradesh’s Central Research Institute (CRI), whose manufacturing licence was cancelled in January 2008, has resumed production of vaccines with the central government giving it clearance, a minister said here Saturday.

“CRI has resumed production of vaccines after the central government in its orders dated Feb 12 and 26 cleared its drug production licence,” … Read more : Himachal’s CRI resumes vaccine production.

Closure of Orissa railway sidings hits iron ore supplies

BHUBANESWAR – Supply of iron ore from mines in Orissa’s Keonjhar district has been hit after the authorities closed at least four railway sidings and prohibited loading and unloading of minerals, a Tata Steel official said Saturday.

“Our movement from the Joda siding has been adversely affected” Mohit Das, a Tata Steel spokesperson told IANS. … Read more >>>.

Sarkozy’s party braces for potential electoral wipeout in regional elections favoring left

Sarkozy’s party braces for electoral wipeout

PARIS – President Nicolas Sarkozy’s party braced for a potential electoral wipeout in Sunday’s final round of regional elections, which an alliance of the rival left hopes will give it a national sweep and a staging ground for 2012 presidential voting.
Even damage control was difficult for the conservatives.
Sarkozy’s UMP party, … Read more : Sarkozy’s party braces for potential electoral wipeout in regional elections favoring left.

Gujarat acts on critically polluted clusters

AHMEDABAD – After the state pollution control board declared eight clusters of Gujarat as critically polluted, an action plan has been rolled out to ensure that industrial units in these areas comply with the laid down norms, an official said Saturday.

According to Gujarat Pollution Control Board (GPCB) official, efforts were being initiated to improve …. Read the original article  : Gujarat acts on critically polluted clusters.

Talks between British Airways, union collapse; strike affecting thousands of travelers begins

Strike begins as talks between BA, union collapse

LONDON – A three-day strike by British Airways cabin crew affecting thousands of travelers began Saturday after last-ditch talks between the airline’s management and union leaders collapsed.
The walkout has forced BA to cancel thousands of flights, but it still hopes to operate around 65 percent of its international …. Source  : Gaea News Network.

Gujarat to build expressway soon

AHMEDABAD – Gujarat will build it’s first expressway between Ahmedabad and Bhavnagar at a cost of Rs.2,200 crore to provide superfast road connectivity to Special Investment Region.

The investment region is coming up enroute at Dholera, an ancient port-city in Gulf of Khambhat, 30 km away from Dhandhuka village of Ahmedabad district.
According to Roads and …. Original source  : Gujarat to build expressway soon.

Lady Gaga fires back at music producer in NY court, files response challenging $30M lawsuit

Lady Gaga fires back in NY court at music producer

NEW YORK – Lady Gaga is firing back at a music producer who claims he launched her career and is suing her for $30.5 million.
Her lawyer said in a court filing made public Friday the agreement at the heart of the suit was “unlawful.”
Song writer and … Read more >>>.

Ilgauskas back in Cleveland area 3 days before he’s eligible to re-sign with Cavaliers

Ilgauskas back in Cleveland area
AVON, Ohio – Zydrunas Ilgauskas is back in the Cleveland area three days before he is eligible to re-sign with the Cavaliers.

Ilgauskas declined to comment to The Associated Press on Friday following a workout at a suburban gym.
His agent, Herb Rudoy, told the AP in an e-mail that he will talk … Read more : Ilgauskas back in Cleveland area 3 days before he’s eligible to re-sign with Cavaliers.

Nev. judge decides initiative to raise mining taxes can proceed, but says it must be reworded

NV’s mining industry loses bid to block petition

CARSON CITY, Nev. – Nevada’s mining industry has lost an early legal bid to keep Nevadans from voting on a ballot measure that would dramatically increase mining taxes in the richest gold mining state in the nation.
District Judge James Wilson Jr., at a hearing today in Carson City, … Read more : Nev. judge decides initiative to raise mining taxes can proceed, but says it must be reworded.

Report: Loophole allows Calif. nurse assistants to be rehired after abuse, other misconduct

Report: Nurse assistants rehired after misconduct

LOS ANGELES – A state Senate report released Friday said nurse assistants who lost their certification over abuse, negligence or theft in nursing homes were able to go to work as caregivers in assisted living facilities because of a computer tracking loophole.
A Senate subcommittee plans to hold a hearing next … Read this article on Gaea Times at : Report: Loophole allows Calif. nurse assistants to be rehired after abuse, other misconduct.

Scary hits, major injuries, push NHL toward ban of shots to the head

Long overdue, NHL set to eliminate hits to head

NEW YORK – The dazed and distant look on Brent Seabrook’s face after the Chicago Blackhawks defenseman got crushed against the boards cried out for a head shot ban – in time for the third period.
The sight of Boston Bruins star Marc Savard out cold on the …. Source  : Scary hits, major injuries, push NHL toward ban of shots to the head.

Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year

Regulators shut 7 banks in 5 states; 37 in 2010

WASHINGTON – Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the U.S. so far this year.
The closings follow the 140 that succumbed in 2009 to mounting loan defaults and the recession.
The Federal Deposit Insurance Corp. …. Original article on Gaea Times at  : Regulators shut banks in Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year.

Nuclear liability bill needs to go through, says Ficci chief

WASHINGTON – Calling nuclear power as the “next frontier” where investments in India will come, Rajan Bharti Mittal, president of the Federation of Indian Chambers of Commerce and Industry (Ficci), hopes the controversial civil nuclear liability bill goes through India’s parliament to bring in more foreign companies.

“Issue is India is power starved,” Rajan Bharti Mittal, … Original article on : Nuclear liability bill needs to go through, says Ficci chief.

US offers latest airborne radar to India

NEW DELHI – After a range of top fighter aircraft and other weapon systems, the US has now offered another sophisticated system to India, the Airborne Stand-Off Radar (ASTOR), whose capability has been described as “unmatched” by a former US navy official.

According to Admiral Walter F. Doran, president Asia for Raytheon, Indian officials had already …. Source  : US offers latest airborne radar to India.

China may report trade deficit in March, minister says, while rejecting pressure on currency

Minister: China may report trade deficit in March

BEIJING – China could report a trade deficit in March, the country’s commerce minister said Sunday as he rejected U.S. pressure to ease currency controls and blamed Washington for the Sino-U.S. trade gap.
Washington and other trading partners are pressing China to ease currency controls that have kept its … Read the original article on Gaea Times at : China may report trade deficit in March, minister says, while rejecting pressure on currency.

Obama appeals for Democratic unity ahead of make-or-break health care vote

Obama urges party unity to pass health care
WASHINGTON – Democratic leaders appeared confident they had the votes needed to pass the landmark legislation Sunday, a day after President Barack Obama called on them to make history by bringing health insurance to millions of struggling families.
On Saturday, Democratic leaders frenetically hunted for votes inside … Read the original article on Gaea Times at : Obama appeals for Democratic unity ahead of make-or-break health care vote.

Finnair deploys all-new fleet as traffic to India spurts

NEW DELHI – Nordic carrier Finnair has deployed an all-new fleet to India even as its passenger load factor on the Helsinki-New Delhi route has seen a major spurt this year after the turbulent past season due to the global slowdown.

“The average age of aircraft deployed to India is just four months,” said Kari Stolbow, …. Source  : Finnair deploys all-new fleet as traffic to India spurts.

Tiny community in Montana’s struggling northwest buries young soldier killed in Afghanistan

Struggling town turns out to bury fallen soldier

COLUMBIA FALLS, Mont. – Residents from the small communities just outside the mountains of Glacier National Park buried one of their own Saturday, a young soldier from Hungry Horse killed by Afghan insurgents earlier this month.
Nicholas Cook is just the eighth soldier from Montana to be killed in …. Source  : Tiny community in Montana’s struggling northwest buries young soldier killed in Afghanistan.

Malaysian Indian enterprises need 100,000 foreign workers

KUALA LUMPUR – Projecting a requirement of 100,000 foreign workers, a Malaysian Indian trade body wants a dialogue with Prime Minister Najib Tun Razak over the prevailing shortage of foreign labour in the country.

Malaysian Associated Indian Chamber of Commerce of Industry (Maicci) president K.K. Eswaran said various trade associations had sought the chamber’s help to …. Source article on Gaea Times at  : Malaysian Indian enterprises need 100,000 foreign workers.

FICCI bats for nuclear liability bill to win ‘next frontier’

WASHINGTON – Calling nuclear power as the “next frontier” where investments in India will come, the FICCI chief hopes the controversial civil nuclear liability bill goes through Indian parliament to bring in more foreign companies.

“Issue is India is power starved,” Rajan Bharti Mittal, president of the Federation of Indian Chambers of Commerce and Industry (FICCI), … Read more >>>.

Kamal Nath to seek Canadian investment, meet Indian-born ‘Warren Buffet’

TORONTO – India will woo Canadian investment in its infrastructure during the four-day visit of Minister for Road Transport and Highways Kamal Nath to Canada from March 23.

During his visit, Kamal Nath will meet Canadian International Trade Minister Peter Van Loan, Transport Minister John Baird, and corporate leaders to give further push to economic ties …. Source article on Gaea Times at  : Kamal Nath to seek Canadian investment, meet Indian-born ‘Warren Buffet’.

Senate Leader Reid joins president in appeal for Democratic unity ahead of pivotal vote

Obama urges Dems to come together for health care
WASHINGTON – Victory within reach, President Barack Obama exhorted House Democrats on Saturday to stay true to their party’s legacy and make history by bringing health insurance to millions of struggling families now left out. Leaders exuded confidence …. Source  : Senate Leader Reid joins president in appeal for Democratic unity ahead of pivotal vote.

Despite pressure from black activists, black support for Obama’s race-neutral stance is high

Black support high for Obama’s race-neutral stance
CHARLOTTE, N.C. – In this banking center walloped by the Great Recession, where unemployment just hit a 20-year high and as many as one in three black people are out of work, blacks could easily be frustrated with President Barack Obama’s insistence that a rising …. Original source  : Despite pressure from black activists, black support for Obama’s race-neutral stance is high.

House Democrats confident they can overcome abortion rift in health bill

Obama calls on Dems to pass health care
WASHINGTON – Victory within reach, President Barack Obama rallied House Democrats on Saturday for a final health care push, and party leaders appeared confident they had overcome a flare-up over abortion funding restrictions in the legislation.
Building on Democrats’ momentum, House leaders decided on a straight up-or-down … Read more >>.

Senate Democratic leader says he has ’significant majority’ to revise health care bill

Top Senate Dem says he has votes for health bill

WASHINGTON – Senate Majority Leader Harry Reid says he has enough votes to push changes in the health care overhaul bill through the Senate.
House leaders expect to pass the Senate’s version of the legislation on Sunday.
House Democrats want to make changes in that bill – and … Original source on Gaea Times at : Senate Democratic leader says he has ’significant majority’ to revise health care bill.

A breakdown of fees paid by California drivers for traffic citations

California traffic citation fees at a glance

Fees paid by California drivers for traffic citations in addition to the base fine:
-$26 penalty assessment for every $10 of the base fine; funds courthouse construction, DNA identification, county emergency medical services and other programs.
-$35 criminal conviction fee; goes toward court construction.
-$30 court security fee.
-$1 county night court fee.
-Other …. Source article on Gaea Times at  : A breakdown of fees paid by California drivers for traffic citations.

Cities and states struggling with budgets cuts look to raise traffic fees, step up enforcement

Tight for cash, governments raise traffic fees

LOS ANGELES – Shomari Jennings was willing to pay the $70 ticket he received for driving without a seatbelt, but not the slew of tacked-on fees and penalties that ballooned the cost more than tenfold.
Every $10 of his base fine triggered a $26 “penalty assessment” for courthouse construction, a …. Original article on Gaea Times at  : Cities and states struggling with budgets cuts look to raise traffic fees, step up enforcement.

Dubai records pearl trade worth over $27 mn in 2009

DUBAI – Pearls trade in Dubai has crossed the record $27 million mark last year, registering 30 percent increase in the import of the precious gem from several countries including India and Australia.

The total transaction of pearls was worth AED 99.6 million ($27.11 million) in 2009, the Dubai Pearl Exchange, a subsidiary of Dubai Multi … Original article on : Dubai records pearl trade worth over $27 mn in 2009.

Maharajas’ Express chugs out from Kolkata

KOLKATA – Railway Minister Mamata Banerjee Saturday night flagged off the Kolkata-Delhi luxury tourist train Maharajas’ Express from here.

The train is the latest offering from the railways on the lines of the palace-on-wheels to generate revenue and help tourists explore India. It possesses elegant features to give the guests a feeling of royalty.
The train …. Source article on Gaea Times at  : Maharajas’ Express chugs out from Kolkata.

Major League Soccer and union sign a 5-year labor contract.

MLS and union sign 5-year labor deal
NEW YORK – Major League Soccer and its players signed an agreement in principle Saturday on a five-year labor contract that avoided a strike scheduled before next week’s season opener.

Negotiators began intensive talks Thursday in Washington, D.C., and the deal was signed shortly after 1 p.m. Saturday, about 5?? …. Original source  : Major League Soccer and union sign a 5-year labor contract..

Government to decide on cooking gas, kerosene price hike

CHENNAI – The central government will take a decision on hiking the cooking gas and kerosene prices on the lines recommended by Kirit Parikh committee, an official said Saturday.

“The ministry of petroleum and natural gas is examining it and a decision will be taken. The implementation of the report will be from next fiscal …. Read the original article  : Government to decide on cooking gas, kerosene price hike.

Afcons bags Rs.938 crore Kolkata Metro project

KOLKATA – Afcons Infrastructure Ltd. (Afcons), the infrastructure arm of Shapoorji Pallonji Group, has bagged a Rs.938-crore project for design and construction of a part of the East-West Metro project in the city.

Disclosing this at a media meet here Saturday, Afcons director for transportation Ramakrishna V. Ramanan said: “The project includes design and construction of …. Source article on Gaea Times at  : Afcons bags Rs.938 crore Kolkata Metro project.

Palestinian whistleblower creates a stir, keeps public debate focused on corruption

Anti-corruption campaigner is headache for Abbas

RAMALLAH, West Bank – After getting a top Palestinian official suspended over an embarrassing sex tape, self-styled anti-corruption campaigner Fahmi Shabaneh feels unstoppable.
The former Palestinian intelligence agent is already zooming in on his next targets, including his former boss and a top Islamic court judge. He also set up a …. Source article  : Palestinian whistleblower creates a stir, keeps public debate focused on corruption.

No new taxes in Tamil Nadu’s deficit budget for 2010-11

CHENNAI – Tamil Nadu Finance Minister K. Anbazhagan Friday presented a deficit budget for fiscal 2010-11 in which he proposed no new taxes, reduced tax rates on many items and announced the creation of a separate department for the differently abled.

“The total revenue receipts of the government for 2010-11 are estimated at Rs.63,091.74 crore and …. Source article  : No new taxes in Tamil Nadu’s deficit budget for 2010-11.

Obama: Congress ‘answered the call of history’ in passing health insurance reform

Obama lauds House for passing health care bill
WASHINGTON – Capping a long day and a consuming political journey, President Barack Obama celebrated the passage of health care legislation with hugs, high fives and an emboldened attitude. Said the president to the nation, “Tonight, we answered the call of history.”
At nearly midnight in Washington, …. Source  : Obama: Congress ‘answered the call of history’ in passing health insurance reform.

House Democrats send historic health bill to President Obama; action shifts to Senate

House sends health care overhaul bill to Obama
WASHINGTON – A transformative health care bill is headed to President Barack Obama for his signature as Congress takes the final steps in Democrats’ improbable and history-making push for near-universal medical coverage.
On the cusp of succeeding where numerous past congresses and administrations have failed, jubilant …. Source article  : House Democrats send historic health bill to President Obama; action shifts to Senate.

Pranab Mukherjee to inaugurate Reserve Bank/ OECD seminar in Bangalore

BANGALORE – Finance Minister Pranab Mukherjee will on Monday inaugurate an International workshop on ‘Financial Literacy’ in Bangalore.

The two-day workshop has been organized by the Reserve Bank of India (RBI) and Organisation for Economic Cooperation and Development … Read more : Pranab Mukherjee to inaugurate Reserve Bank/ OECD seminar in Bangalore.

Pranab sticks to 7.2 percent growth in 2009-10

BANGALORE – Finance Minister Pranab Mukherjee Monday said the government was sticking to an estimated 7.2 percent growth rate for this fiscal (2009-10) and 8.5 percent for 2010-11.

“I have given some indication in the budget speech and the economic survey. So far as this year is concerned, we are sticking to 7.2 percent GDP (Gross … Read more : Pranab sticks to 7.2 percent growth in 2009-10.

Shimla, Hamirpur to go solar

SHIMLA – The Himachal Pradesh government has decided to make Shimla and Hamirpur solar-powered cities as part of a drive to save electricity.

“We are developing Shimla and Hamirpur as solar cities with the assistance of the central government,” Chief Minister Prem Kumar Dhumal told IANS, adding that more cities and towns would be later included … Read more »»».

FM inaugurates RBI-OECD International Workshop on Financial Literacy

To mark the Platinum Jubilee Year, the Reserve Bank of India, in coordination with the Organisation for Economic Co-Operation and Development (OECD) organised an International Workshop on “Delivering Financial Literacy” at Bengaluru on March 22, 2010. The two day international workshop was organised to advance and elevate policy dialogue …. Original source  : FM inaugurates RBI-OECD International Workshop on Financial Literacy.

Many jobs lost as farmers in Mississippi Delta switch from cotton to more profitable corn

As farmers move from cotton to corn, jobs are lost

LUBBOCK, Texas – Fields of white cotton once stretched as far as the eye could see across the fertile Mississippi Delta, but now many of those acres are flush with green corn stalks.
U.S. cotton production peaked in 2005 and has been sliding since as farmers switch …. Source  : Gaea News Network.

Sensex crawls up after weak start

MUMBAI – A benchmark index for Indian equities Monday was trying to pare its early morning losses and was ruling 28 points lower a couple of hours into trade.

The markets had begun the day with a negative bias after the Reserve Bank of India’s Friday evening decision to hike key policy rates by 25 … Read more »»».

L&T to build 36 high speed boats for coast guard

MUMBAI – Infrastructure construction major Larsen & Toubro (L&T) will design and construct 36 high speed interceptor boats worth Rs.970 crore for the Indian Coast Guard, the company announced here Monday.

The contract, awarded by the defence ministry, is one of the initiatives of the government to strengthen coastal security.
The interceptor boats will have aluminium-alloy … Original article on : L&T to build 36 high speed boats for coast guard.

Punjab industrialists fume over 58-hour weekly power-cut

MOHALI – Factory owners in this industrial belt have asked Punjab Chief Minister Parkash Singh Badal to intervene after a recent communication from the Punjab State Electricity Board (PSEB) on a 58-hour compulsory weekly power-cut.

Mohali Industries Association (MIA) received the PSEB circular Saturday.
“The circular is a big set-back for industries in Mohali. The power …. Source article  : Punjab industrialists fume over 58-hour weekly power-cut.

Organic veggies to make good business for Himachal hotels

SHIMLA – Guests at two top hotels run by Himachal Pradesh Tourism can soon savour fresh, organically-cultivated vegetables on the menu. What’s more, these will be grown in kitchen gardens on the premises, making for good business.

“We are developing kitchen gardens at Chail Palace hotel at Chail and Hotel Pinewood at Barog to grow vegetables … Original article on : Organic veggies to make good business for Himachal hotels.

President Barack Obama’s remarks on health care overhaul

President Obama’s remarks on health care overhaul
President Barack Obama’s remarks on health care overhaul, delivered Sunday after the House passed the legislation:
Good evening, everybody. Tonight, after nearly 100 years of talk and frustration, after decades of trying, and a year of sustained effort and debate, the United States Congress finally declared …. Source  : President Barack Obama’s remarks on health care overhaul.

Obama: Health care bill a victory for American people, common sense

Obama: Health care bill a victory for Americans
WASHINGTON – President Barack Obama says the health care legislation passed Sunday night by the House is “a victory for the American people” and “a victory for common sense.”
The bill “will not solve every problem” in the health care system, Obama says, but “moves us in … Read the original article on Gaea Times at : Obama: Health care bill a victory for American people, common sense.

Asia stocks slide as Greek debt crisis, India rate hike rattle investors; HK down nearly 2 pct

Asia stocks drop as Greek crisis, India hike weigh

HONG KONG – Asian stock markets fell Monday as worries about Greece’s debt crisis and India’s sudden interest rate hike rattled investors.
Major indexes were down as much as 2 percent after selling hit U.S. and European markets on Friday. Oil prices fell toward $80 a barrel, while …. Source  : Asia stocks slide as Greek debt crisis, India rate hike rattle investors; HK down nearly 2 pct.

Money Market Operations as on March 19, 2010

…. Original article  : Money Market Operations as on March 19, 2010.

Obama’s health plan, less audacious than it might have been, still among history’s bold acts

Obama achieves health law success that eluded past
WASHINGTON – Rarely does the government, that big, clumsy, poorly regarded oaf, pull off anything short of war that touches all lives with one act, one stroke of a president’s pen. Such a moment has come.
After a year of riotous argument, decades of failure …. Original source  : Obama’s health plan, less audacious than it might have been, still among history’s bold acts.

Congress clear historic health care bill, sends it to Obama for his signature

Congress clears historic health care bill
WASHINGTON – Summoned to success by President Barack Obama, the Democratic-controlled Congress approved historic legislation Sunday night extending health care to tens of millions of uninsured Americans and cracking down on insurance company abuses, a climactic chapter in the century-long quest …. Source  : Gaea News Network.

Congress approves historic health care bill, sends measure to Obama

Congress approves historic health care legislation
WASHINGTON – The Democratic-controlled Congress has approved historic legislation extending health care to tens of millions of Americans who lack it and cracking down on insurance company abuses.
The vote in the House was 219-212. Republicans were unanimously opposed. The bill now goes to President Barack Obama for his … Original article on : Congress approves historic health care bill, sends measure to Obama.

Oil drifts above $81 in Asia as traders eye stronger US dollar

Oil drifts near $81 as traders eye stronger dollar

SINGAPORE – Oil prices drifted above $81 a barrel Tuesday in Asia as the U.S. dollar strengthened, making crude more expensive for investors with other currencies.
Benchmark crude for May delivery was down 12 cents to $81.48 a barrel at late afternoon Singapore time in electronic trading on … Read this article on Gaea Times at : Oil drifts above $81 in Asia as traders eye stronger US dollar.

Finance minister says Greece can keep borrrowing from markets with ‘no difficulty’

Greece: can keep borrowing from markets
ATHENS, Greece – Greece’s finance minister says his country will have no difficulty in borrowing money on financial markets in the upcoming months, despite persistently high lending rates.

George Papaconstantinou also says he expects a “positive outcome” from Thursday’s meeting of European Union leaders who will discuss how to help Greece …. Original article  : Finance minister says Greece can keep borrrowing from markets with ‘no difficulty’.

Ready Forward Contracts in Corporate Debt Securities

The market participants shall report their repo trades in corporate bonds only to the clearing corporations, i.e., National Securities Clearing Corporation of India Ltd. (NSCCL) and Indian Clearing Corporation Ltd. (ICCL) for settlement until the launch of the Fixed Income Money Market and Derivatives Association (FIMMDA) Reporting Platform, which …. Original article on Gaea Times at  : Ready Forward Contracts in Corporate Debt Securities.

AP sources: Charges eyed for Blackwater’s ex-president, others in NC gun case

AP sources: New charges eyed for Blackwater

WASHINGTON – People close to an investigation of the Blackwater private security company say federal prosecutors are considering filing weapons charges against the firm’s former president and two other former employees.
They tell The Associated Press the potential charges stem from a probe into whether the firm illegally stockpiled automatic … Read this article on Gaea Times at : AP sources: Charges eyed for Blackwater’s ex-president, others in NC gun case.

Health law will require calorie counts in menus in 200,000 restaurants nationwide

Health law will make calorie counts hard to ignore
WASHINGTON – That Caesar salad you’re about to eat? It’s 800 calories, and that’s without the croutons. The fettuccine alfredo? A whopping 1,220 calories. You may choose to ignore the numbers, but soon it’s going to be tough to deny you saw them.
A requirement tucked … Read : Health law will require calorie counts in menus in 200,000 restaurants nationwide.

For consumers, passage of health care bill brings an array of new options and trade-offs

Wanted: User manual for health care overhaul
WASHINGTON – President Barack Obama and the Democrats have overcome their doubts and divisions to pass landmark health care legislation affecting every family and one-sixth of the economy. The president will sign the main bill at a White House ceremony scheduled for Tuesday, and a companion package …. Original article on Gaea Times at  : For consumers, passage of health care bill brings an array of new options and trade-offs.

After signing health care bill, Obama to celebrate historic overhaul effort with supporters

Obama to sign health bill, celebrate with allies
WASHINGTON – President Barack Obama’s yearlong health care overhaul drama featured dozens of speeches, contentious debate and a televised summit with lawmakers before a divided Congress passed the bill. An elaborate White House signing ceremony kicks off the next act: selling the sweeping changes … Read more »»».

Asian stock markets mostly higher after US gains on health care reform; oil holds above $81

Asian markets mostly higher after US stocks gain

HONG KONG – Asian stock markets were mostly higher Tuesday, helped by an overnight rise on Wall Street after the passage of a sweeping U.S. health care measure.
Major markets gained by 1 percent or less, reversing course after declines the day before. The dollar was up modestly against … Read the original article on Gaea Times at : Asian stock markets mostly higher after US gains on health care reform; oil holds above $81.

Oil hovers above $81 in Asia as traders eye equity markets, crude supply data

Oil hovers above $81 as traders eye equity markets

SINGAPORE – Oil prices hovered above $81 a barrel Tuesday in Asia as investors look to equity markets and crude inventory data later this week for a trading catalyst.
Benchmark crude for May delivery was down 10 cents to $81.50 a barrel at midday Singapore time in electronic … Read more : Oil hovers above $81 in Asia as traders eye equity markets, crude supply data.

Lawmakers to debate structure of US mortgage market, changes could take years

Debate on the future of Fannie, Freddie heats up

WASHINGTON – There would be no housing market today without the government.
Over the past 18 months, Washington has taken extraordinary steps to keep home loans available and affordable. That caused a tentative housing recovery last year. Home sales reversed their four-year descent, while prices stabilized.
One big reason: …. Original source  : Lawmakers to debate structure of US mortgage market, changes could take years.

Money Market Operations as on March 22, 2010

… Read this article on Gaea Times at : Money Market Operations as on March 22, 2010.

Warriors’ longtime owner Chris Cohan puts team up for sale

Warriors announce they’re for sale
OAKLAND, Calif. – The Golden State Warriors are for sale and Oracle Corp. CEO Larry Ellison has already made it well known he wants to buy the team.

The Warriors said Monday they have hired Galatioto Sports Partners, or GSP, to handle current owner Chris Cohan’s sale of the franchise and that [..] Read the original article: here.

AL MVP Mauer signs $184 million, 8-year extension with hometown Twins

Twins, Mauer make it official: $184M extension

FORT MYERS, Fla. – Sitting a few feet from the people who inspired him to become one of the games best players, Minnesota Twins catcher Joe Mauer became one of the game’s highest-paid ones as well.
The 26-year-old Mauer signed an $184 million, eight-year contract extension Monday at a news … Read this article on Gaea Times at : AL MVP Mauer signs $184 million, 8-year extension with hometown Twins.

No compromise in Texas couple’s $58M judgment against homebuilder and political donor Perry

No settlement in $58M judgment against homebuilder

DALLAS – Mediation efforts were unsuccessful Monday between an elderly Fort Worth-area couple and the politically powerful Houston homebuilder who lost a $58 million judgment to them, the couple’s lawyers said.
Van Shaw and Dan Hagood, attorneys for Robert and Jane Cull of Mansfield, said they failed to reach an … Read more : No compromise in Texas couple’s $58M judgment against homebuilder and political donor Perry.

California lawmakers take step to ban smoking at state parks, beaches under landmark bill

Calif. moves to ban smoking at all state parks

SACRAMENTO, Calif. – California lawmakers on Monday moved a step closer to banning smoking at state beaches and parks, following the lead of hundreds of communities nationwide.
The state Assembly voted 42-27 in favor of the ban. Anti-smoking groups say the bill would make California the first state … Original article on : California lawmakers take step to ban smoking at state parks, beaches under landmark bill.

Struggling MGM studio says it received several offers of support; review to take several weeks

MGM studio says has received several rescue offers

LOS ANGELES – Metro-Goldwyn-Mayer Inc., an iconic Hollywood studio that has fallen on hard times, said Monday it has received several offers from suitors wanting to acquire it or keep it operating as a standalone company.
MGM said it will take several weeks to evaluate the offers, which came …. Source  : Struggling MGM studio says it received several offers of support; review to take several weeks.

A Broadway theater is renamed for composer Stephen Sondheim on his 80th birthday

A Broadway theater is renamed for Stephen Sondheim

NEW YORK – So what did Stephen Sondheim get Monday on his 80th birthday?
A Broadway theater renamed for the composer of “Company,” ”Follies,” ”Sweeney Todd” and other memorable shows.
The Henry Miller’s Theatre on West 43rd Street will now be known as the Stephen Sondheim Theatre.
The announcement was made …. Original article on Gaea Times at  : A Broadway theater is renamed for composer Stephen Sondheim on his 80th birthday.

49ers team president Jed York: GM Scot McCloughan out as general manager

McCloughan out as 49ers GM
SANTA CLARA, Calif. – The San Francisco 49ers have a new man in charge of personnel decisions merely a month before draft day.

Scot McCloughan is out as the Niners’ general manager in a “mutual parting,” and director of player personnel Trent Baalke will lead the team into next month’s draft.
Team president … Original source on Gaea Times at : 49ers team president Jed York: GM Scot McCloughan out as general manager.

Repeal of children’s program puts Arizona’s Medicaid funding at risk under health overhaul

KidsCare repeal said to jeopardize Ariz. funding

PHOENIX – A controversial decision by Arizona lawmakers to eliminate a health insurance program for poor children puts it at risk of losing billions of dollars in federal Medicaid funding under the historic health care bill approved by Congress.
Arizona last week became the first state to eliminate its Children’s …. Source  : Gaea News Network.

Chardonnay, zinfadel and cabernet sauvignon push California’s 2009 grape crush above 4M tons

Chardonnay helps Calif grape crush top 4M tons

FRESNO, Calif. – Chardonnay led the way last year as California vintners crushed more than 4 million tons of grapes, up from 3.7 tons in 2008.
Although the white wine grape was the single most popular grape varietal crushed during the 2009 harvest, accounting for nearly 18 percent of … Original source on Gaea Times at : Chardonnay, zinfadel and cabernet sauvignon push California’s 2009 grape crush above 4M tons.

Jerusalem municipality approves contentious new building plan in east Jerusalem

Jerusalem approves contentious new building plan
JERUSALEM – The Jerusalem municipality has approved 20 new apartments for Jews in east Jerusalem, the city said Wednesday, in a move that could stir a new diplomatic crisis with the United States just as Israel’s leader is in Washington on a fence-mending visit.
The U.S. views Israeli building … Original article on : Jerusalem municipality approves contentious new building plan in east Jerusalem.

Cleaner petrol, diesel to cost more from April 1

NEW DELHI – Cleaner — but costlier — Euro-IV standard petrol and diesel will be available from April 1 in 13 cities across the country, Petroleum Secretary S. Sundareshan said here Wednesday.

At a function to mark the launch of the cleaner fuel, he said: “From April 1, Euro-IV standard fuel will be available in 13 …. Original article  : Cleaner petrol, diesel to cost more from April 1.

Punj Lloyd gets ‘Infrastructure Company of the year’ award

NEW DELHI – Punj Lloyd, the global engineering, procurement, construction conglomerate has been conferred the coveted ‘Infrastructure Company of the year’ award at the Essar Steel Infrastructure Excellence Awards 2010 in association with CNBC TV 18.

The awards aim to capture the spectacular performance of the company and individuals alike.
Speaking on the occasion, Chairman Atul Punj …. Source article  : Punj Lloyd gets ‘Infrastructure Company of the year’ award.

Former Samsung chairman Lee Kun-hee, pardoned over tax evasion, returns to top post

Former Samsung chairman Lee returns to top post
SEOUL, South Korea – Lee Kun-hee, the former chairman of Samsung Electronics who was convicted of tax evasion and later pardoned by South Korea’s president, has returned to lead the company after a nearly two-year absence.
The 68-year-old Lee, a South Korean corporate icon, was indicted in … Read : Former Samsung chairman Lee Kun-hee, pardoned over tax evasion, returns to top post.

easyJet names publishing executive Carolyn McCall as its next CEO

easyJet picks publishing exec as new CEO
LONDON – Budget airline easyJet says it has chosen publishing executive Carolyn McCall as its new CEO.

McCall, 48, has been group chief executive of Guardian Media Group, publisher of The Guardian and The Observer newspapers, since 2006.
EasyJet said Wednesday that she replaces Andy Harrison, who will be taking up … Original article on : easyJet names publishing executive Carolyn McCall as its next CEO.

Mayor Dave Bing discusses Detroit’s financial future in 1st State of City as budget woes loom

Mayor Dave Bing discusses Detroit’s economic woes

DETROIT – Having navigated his first State of the City address as Detroit’s mayor, Dave Bing now faces what is likely to be a more difficult task: tackling the budget and a more than $300 million deficit.
Bing is expected to present his budget to the City Council next month. …. Original source  : Mayor Dave Bing discusses Detroit’s financial future in 1st State of City as budget woes loom.

Senate writing final chapter to Obama health care bill, if all goes as Democratic leaders hope

Senate on health bill’s final chapter, maybe
WASHINGTON – President Barack Obama has signed into law the most sweeping overhaul of U.S. health care since Medicare, but one last chapter in the epic struggle is still playing out in the Senate.
Senators are debating a package of fixes to the new health law, …. Source article on Gaea Times at  : Senate writing final chapter to Obama health care bill, if all goes as Democratic leaders hope.

10 letters a day: Obama’s daily dose of humanity, keeping him grounded in health care debate

10 letters a day: humanizing talismans for Obama
WASHINGTON – He kept coming back to the letters.
Perhaps nothing crystallized President Barack Obama’s determination to press forward on health-care legislation more than the 10 letters he reads each day from ordinary Americans.
The letters became talismans for him: He carried them around. He recited their stories. … Read : 10 letters a day: Obama’s daily dose of humanity, keeping him grounded in health care debate.

Asia stocks climb as economic reports, US gains boost sentiment; Nintendo surges

Asia stocks up after upbeat economic data, US rise

HONG KONG – Asian stocks were up modestly Wednesday as encouraging economic reports and gains in U.S. markets buoyed investor confidence.
The euro, meanwhile, continued its slide against the dollar amid uncertainty over a resolution to Greece’s debt crisis. Oil prices hovered above $81 a barrel.
Economic news from …. Source article  : Asia stocks climb as economic reports, US gains boost sentiment; Nintendo surges.

Ex-Samsung boss back in office after scandal

SEOUL – Scandal-plagued former Samsung Group head Lee Kun Hee returned to the company as chairman of Samsung Electronics Co nearly two years after he quit due to a conviction for tax evasion, company officials said Wednesday.

“Former chairman Lee has decided to return to the management of Samsung Electronics as chairman,” Rhee In Yong, chief … Read more »».

Quality spells success in India too: Amway

WASHINGTON – Quality of products, an opportunity to start a small business at a relatively low investment and low risk are key factors behind Amway India’s success story, says the man responsible for the market.

“When we entered India, many consultants advised us to lower product quality to reduce the prices. But we took a conscious … Read more : Quality spells success in India too: Amway.

After IT, it’s decade of infrastructure in India: Kamal Nath

TORONTO – India’s Minister for Roads and Transport Kamal Nath said here that the next decade will be the “decade of infrastructure” in India and invited Canadian investors to participate in it.

Speaking at a dinner gala by the Canada-India Business Council here Tuesday night, Kamal Nath said infrastructure was the buzzword globally and India offers … Read more : After IT, it’s decade of infrastructure in India: Kamal Nath.

Oil falls to near $81 in Asia after report shows US crude supplies jumped last week

Oil falls to near $81 on US crude supplies jump

SINGAPORE – Oil prices fell to near $81 a barrel Wednesday in Asia after a report showed a larger-than-expected jump in U.S. crude inventories last week.
Benchmark crude for May delivery was down 70 cents to $81.21 a barrel at late afternoon Singapore time in electronic trading …. Source article on Gaea Times at  : Oil falls to near $81 in Asia after report shows US crude supplies jumped last week.

National Urban League: ‘Much more’ gov’t efforts needed to reduce race gaps in jobs, health

Urban League: Health, jobs legislation fall short
WASHINGTON – Landmark health legislation won’t be enough to reduce racial gaps in unemployment and health care, the National Urban League says in urging President Barack Obama to promote a “jobs surge” that targets hard-hit communities.
In its annual “State of Black America” report being released Wednesday, the …. Source  : National Urban League: ‘Much more’ gov’t efforts needed to reduce race gaps in jobs, health.

Obama administration scrambles to fix gap in health care law’s protection for children

Gap in health care law’s protection for children
WASHINGTON – The Obama administration is scrambling to fix a potential problem with a much-touted benefit of its new health care law, a gap in coverage improvements for children in poor health, officials said Tuesday.
Under the new law, insurance companies still would be able to refuse … Read this article on Gaea Times at : Obama administration scrambles to fix gap in health care law’s protection for children.

Recalled products linked to potential salmonella risk: Little Caesars Spice Paks

Recalled products 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:
Blue Line Foodservice Distribution is recalling Little Caesars Spice Paks. The recalled products are small white packets that …. Original article  : Recalled products linked to potential salmonella risk: Little Caesars Spice Paks.

Former New Jersey Gov. Jon Corzine to become chairman, CEO of brokerage MF Global

Former NJ Gov. Jon Corzine takes helm of MF Global

NEW YORK – Former New Jersey Governor Jon S. Corzine will take the helm of futures and options brokerage MF Global Holdings Ltd., returning to the private sector after nearly a decade in government.
Effective immediately, the 63-year-old takes over from Bernard W. Dan, who has resigned …. Source  : Former New Jersey Gov. Jon Corzine to become chairman, CEO of brokerage MF Global.

Japan’s exports rise sharply in February

TOKYO – Growing demand from Asia and the US helped Japan’s exports surge 45.3 percent in February from a year earlier to 5.13 trillion yen ($56.7 billion), the third consecutive month of increase, the Finance Ministry said Wednesday.

Imports rose 29.5 percent to 4.48 trillion yen for the second straight month, the ministry said in a … Read more : Japan’s exports rise sharply in February.

Robust global demand drives Japan exports up 45 percent in February

Japan’s exports up 45 percent in February
TOKYO – Japan’s exports climbed sharply in February, as a solidifying global recovery fueled the world’s appetite for cars, machinery and gadgets.

Exports jumped 45.3 percent from a year earlier to 5.13 trillion yen ($56.7 billion), marking the third straight month of year-on-year increase, the finance ministry said Wednesday.
Car shipments … Read : Robust global demand drives Japan exports up 45 percent in February.

A study shows housing more affordable, but many workers still priced out of housing market

Study: Many workers facing high housing costs

LOS ANGELES – Housing has become more affordable for police officers, teachers and other workers, but homeownership remains out of their reach in many major markets, according to a new study.
The report released Tuesday by the Center for Housing Policy concluded incomes for many workers have not kept pace … Original article on : A study shows housing more affordable, but many workers still priced out of housing market.

Oil hovers below $81 in Asia after US crude inventories increase

Oil hovers below $81 after US crude stocks rise

SINGAPORE – Oil prices hovered below $81 a barrel Thursday in Asia after an increase in U.S. crude inventories suggested consumer demand remains weak.
Benchmark crude for May delivery was down 8 cents to $80.53 a barrel at late afternoon Singapore time in electronic trading on the New … Read : Oil hovers below $81 in Asia after US crude inventories increase.

China to lend $1 bn to Belarus

Minsk, March 25 (IANS/RIA Novosti) China will lend Belarus more than $1 billion for financing cooperation projects, according to Chinese Vice President Xi Jinping.

An additional amount of $7.5 million will be given in non-repayable financial aid, Xi said Wednesday during his visit to Minsk.
“The Chinese side will provide Belarus with $1 billion in … Read more »».

Abhishek seeks 15 percent copier paper market share

GANDHINAGAR – Abhishek Industries, the flagship company of the Trident group, is targeting a 15 percent share in the Rs.1,800-crore copier paper market, a company official said Thursday.

Abhishek is the world’s largest producer of wheat straw based paper.
Rajinder Gupta, chief executive officer, said the company would increase its revenue by 116 percent over … Read the original article on Gaea Times at : Abhishek seeks 15 percent copier paper market share.

German airline Air Berlin narrows 2009 net loss to $13 million on cost savings

Air Berlin narrows 2009 loss to $13 million

FRANKFURT – German airline Air Berlin Plc says its net loss for 2009 narrowed to euro9.5 million ($13 million) as it embarked on widespread cost savings and route reductions during the year.
The Berlin-based company lost nearly euro84 million in 2008.
The company, Germany’s second largest airline after Deutsche Lufthansa … Original article on : German airline Air Berlin narrows 2009 net loss to $13 million on cost savings.

Euro lower at $1.3325 in European morning trade as EU meets to help Greekce in debt crisis

Euro keeps falling as EU wrangles over Greek aid

FRANKFURT – The euro is lower against the dollar ahead of a crucial EU meeting where a rescue package for Greece, likely with the help of the International Monetary Fund, is expected to be agreed.
The 16-nation euro buys $1.3325 in European morning trade Thursday, down from $1.3338 …. Read the original article  : Euro lower at $1.3325 in European morning trade as EU meets to help Greekce in debt crisis.

Scheduled Banks’ Statement of Position in India as on Friday, March 12, 2010

(Amount in  Rupees crore)

 
 

Scheduled Commercial Banks (SCBs)
(including RRBs)

All Scheduled Banks

 
 

13.03.2009

26.02.2010

 

12.03.2010

 

13.03.2009

26.02.2010

 

12.03.2010

 

 I

Liabilities to the Banking System (A)

*

*

 
 

*

*

a) Demand & time deposits from banks

45542.76

56186.20

58364.29

49706.77

58479.20

60692.46

**

b) Borrowings from banks

31141.35

20840.30

20764.45

31166.66

20851.85

 

20777.03

c) Other demand & time liabilities

27981.51

5853.57

 

5899.76

 

27988.52

5855.89

 

5901.65

II

Liabilities to Others              (A)

 
 
 
 
 
 
 
 
 
 

a) Deposits … Read more : Scheduled Banks’ Statement of Position in India as on Friday, March 12, 2010.

Lengthy talks fail to resolve US-Israeli dispute over housing after Netanyahu’s two-day visit

Lengthy talks fail to resolve US-Israeli tensions
WASHINGTON – A last-ditch effort to heal the deep dispute between two longtime allies failed when Israeli Prime Minister Benjamin Netanyahu and the United States’ main Mideast envoy were unable to resolve a rift over new Israeli housing in east Jerusalem.
Before departing the …. Original article on Gaea Times at  : Lengthy talks fail to resolve US-Israeli dispute over housing after Netanyahu’s two-day visit.

IMF could demand stricter path out of Greece’s economic crisis than EU

IMF could offer strict path out of Greece’s woes

WASHINGTON – If Greece believes the easiest way out of its financial crisis would be with the help of the International Monetary Fund instead of its European neighbors, it could be in for an unpleasant surprise.
Analysts say the IMF would probably demand tough conditions on Greece – …. Source article  : IMF could demand stricter path out of Greece’s economic crisis than EU.

India’s food inflation falls even as index moves up a tad

NEW DELHI – India’s annual food inflation fell marginally once again to 16.22 percent for the week ended March 13 from 16.3 percent for the week before even as prices of lentils, fruits and vegetables moved up over the past week.

According to data on wholesale price index released by the commerce and industry ministry Thursday, …. Read the original article  : India’s food inflation falls even as index moves up a tad.

Reserve Bank Cancels the Licence of The Samata Sahakari Bank Ltd., Nagpur, Maharashtra

In view of the fact that The Samata Sahakari Bank Ltd., Nagpur, Maharashtra had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of [..] Read the original article: here.

Issue of Rs.10/- denomination banknotes with ‘A’ Inset letter in both numbering panels in Mahatma Gandhi Series ??? 2005 bearing the signature of Dr. D. Subbarao, Governor

The Reserve Bank of India will shortly issue Rs.10/- denomination banknotes with ‘A’ inset letter in both numbering panels in Mahatma Gandhi Series – 2005 bearing the signature of Dr. D. Subbarao, Governor. Except for the change in the inset letter, the design of these notes to be issued … Read more »».

Senate bill changing new health law will have to return to House for final approval

Senate will have to return health bill to House
WASHINGTON – Senate Republicans learned early Thursday that they will be able to kill language in a measure altering President Barack Obama’s newly enacted health care overhaul, meaning the bill will have to return to the House for [..] Read the original article: here.

Senate Democrats shoot down GOP efforts to undercut President Obama’s health care overhaul

Senate Democrats kills GOP health amendments
WASHINGTON – Working well past midnight, a weary Senate was mowing down a parade of Republican proposals aimed at undercutting President Barack Obama’s signature health care law as Democrats push toward final passage of the companion piece to his overhaul plan.
In a voting marathon that began the previous …. Source article  : Senate Democrats shoot down GOP efforts to undercut President Obama’s health care overhaul.

In vote marathon, Senate Dems shoot down GOP efforts to undercut Obama health care overhaul

Working late, Senate kills GOP health amendments
WASHINGTON – Working well past midnight, a weary Senate was mowing down a parade of Republican proposals aimed at undercutting President Barack Obama’s signature health care law as Democrats push toward final passage of the companion piece to his overhaul plan.
In a voting marathon that began the …. Read the original article  : In vote marathon, Senate Dems shoot down GOP efforts to undercut Obama health care overhaul.

Spanish prime minister vows to reduce budget deficit

Madrid, March 25 (IANS/EFE) Spanish Prime Minister Jose Luis Rodriguez Zapatero has reiterated his administration’s commitment to reduce the country’s budget deficit by implementing austerity measures.

Zapatero made the statement in the Spanish parliament Wednesday when the leader of the main opposition Popular Party, Mariano Rajoy, challenged the credibility of the austerity plan.
The budget deficit …. Read the original article  : Spanish prime minister vows to reduce budget deficit.

The clock ticks as delays, controversies plague India’s first Commonwealth Games

India’s Commonwealth Games plagued by delay, anger

NEW DELHI – A countdown clock outside the Commonwealth Games offices shows 192 days left until India hosts the 17-sport event. But the city still looks like a messy construction site.
The main stadium is months overdue and remains a tangle of cranes, and residents are furious over new taxes … Original source on Gaea Times at : The clock ticks as delays, controversies plague India’s first Commonwealth Games.

Zain confirms nod to Bharti’s offer for African telecom assets

NEW DELHI – Kuwait’s Zain Telecom Thursday confirmed that its board of directors has approved the offer from India’s top telecom operator Bharti Airtel to acquire its African assets, other than those in Morocco and Sudan.

“The company confirms that the board of directors of Zain met in Kuwait on Wed, March 24 to review the …. Read the original article  : Zain confirms nod to Bharti’s offer for African telecom assets.

Bolivia to invest $40 mn in new gas pipeline to Argentina

La Paz, March 25 (IANS/EFE) The Bolivian government is planning to invest $40 million in a new gas pipeline running from the southern part of the country to the Argentine border, a Bolivian cabinet minister said.

The 20-km pipeline will connect other gas pipelines in southern Bolivia to lines in northern Argentina, where the fuel will …. Source article on Gaea Times at  : Bolivia to invest $40 mn in new gas pipeline to Argentina.

UK Budget: Latest News And Updates

LONDON (GaeaTimes.com)- Alistair Darling, the Treasury Chief of UK presented the UK budget 2010 on Wednesday and as per the latest news, the spending package unveiled in the budget is modest. He tried to convince all that it will try to reduce the burden of debt. He had a tricky task of maintaining a [..] Read the original article: here.

Oil falls to near $80 in Asia, extending losses after US crude inventories increase

Oil falls to near $80 on US crude stocks rise

SINGAPORE – Oil prices fell to near $80 a barrel Thursday in Asia, extending losses from the previous day after an increase in U.S. crude inventories suggested consumer demand remains weak.
Benchmark crude for May delivery was down 25 cents to $80.36 a barrel at midday Singapore … Read the original article on Gaea Times at : Oil falls to near $80 in Asia, extending losses after US crude inventories increase.

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 … Read more >>.

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 …. Source  : Gaea News Network.

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 : Russia ready to export poultry from India.

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 …. Read the original article  : here.

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 … Read : 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 on Gaea Times at  : 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 …. Source  : 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 …. Source  : Gaea News Network.

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 …. Original 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  : 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 … Original article on : 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  : 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 … Original source on Gaea Times at : Recalled products linked to potential salmonella risk: seasoning products, peppercorn.

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 …. Original source  : MBIA CEO Joseph W. Brown receives compensation package worth $5.1 million in 2009.

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.

Industrial package fails to draw much investment in Himachal

SHIMLA – A special package for industrial development in Himachal Pradesh which expires this month is likely to be extended, but experts are sceptical about its impact as the scheme has failed to attract much investment in the past seven years.

Official data shows that the state has got investment of only Rs.6,523 crore, though proposals …. Original source  : Industrial package fails to draw much investment in Himachal.

State Bank Of India Opens Branches In Assam

GUWAHATI, INDIA (GaeaTimes.com)- The Cachar and Hailakandi districts in the state of Assam received three more State Bank of India branches on Saturday. The opening of the new branches in the state comes within a short period of time after the State Bank of India announced that it plans to open as many as … Read the original article on Gaea Times at : State Bank Of India Opens Branches In Assam.

Others can learn from Indian reforms: Trinidad banking head

Port-of-SPAIN – Countries of the world can learn a lot from India’s economic reforms which have been tailored to its unique conditions, Governor of the Central Bank of Trinidad and Tobago Ewart Williams said Saturday.

“We in T&T have a lot to learn from India which has become one of the success stories in global economic … Original source on Gaea Times at : Others can learn from Indian reforms: Trinidad banking head.

Indian women getting ‘empowered’ with direct selling

NEW DELHI – India’s $740-million direct selling industry, where products are sold directly to customers rather than through retail shops, is fast emerging as a viable career option for women, empowering them to earn some decent money from home.

“Most women are raised to believe that they have to be perfect homemakers,” said Chavi Hemanth, secretary … Read more >>.

State Bank Of India Unveils Platinum Card

NEW DELHI, INDIA (GaeaTimes.com)- Leading Public sector bank SBI or State Bank of India which already has a staggering debit card base of 70 million, has added a new platinum debit card to its portfolio. Its other existing offerings are SBI Yuva Card, SBI Gold Debit Card and SBI Cash Plus cards which …. Original article  : State Bank Of India Unveils Platinum Card.

Economy may grow close to 8 percent in fourth quarter: Assocham

NEW DELHI – The Indian economy could grow close to 8 percent in the last quarter of the current fiscal, while the overall growth for the year could be between 7.2-7.4 percent, according to an industry lobby.

“The gross domestic product growth figure could be close to 8 percent for the fourth quarter in view of …. Source  : Gaea News Network.

Bolivia, Argentina sign revised natural gas deal

Sucre (Bolivia), March 28 (IANS/EFE) The Bolivian and Argentine governments have made updates to a natural gas contract dating back to 2006, establishing guarantees for both sides and also for construction of a $98 million gas pipeline.

The changes to the agreement were signed in this southern city by the presidents of the countries’s state-run energy … Original source on Gaea Times at : Bolivia, Argentina sign revised natural gas deal.

Africa looks up to Punjab for ‘green revolution’

CHANDIGARH – African countries are eyeing Indian technology and expertise, especially from Punjab, to bring in a green revolution that will help them ensure food security and even export food grains to other countries.

“With a proven, impressive track record in the field of agriculture, India is a role model for us. We are hoping to …. Read the original article  : Africa looks up to Punjab for ‘green revolution’.

Africa is destination next for India Inc (Comment)

The move by India’s top telecom player Bharti Airtel to acquire the African assets of Kuwait’s Zain marks the biggest foray of a domestic company into the continent. The landmark deal, estimated at $10.7 billion, raises the level of Indian investments in Africa to $16.7 billion.

Airtel’s entry into Africa is hugely significant as it underlines … Read the original article on Gaea Times at : Africa is destination next for India Inc (Comment).

AP Top News at 8:37 p.m. EDT

AP Top News at 8:37 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The …. Original source  : AP Top News at 8:37 p.m. EDT.

AP Top News at 8:35 p.m. EDT

AP Top News at 8:35 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The …. Read the original article  : AP Top News at 8:35 p.m. EDT.

AP Top News at 8:30 p.m. EDT

AP Top News at 8:30 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The … Original article on : AP Top News at 8:30 p.m. EDT.

AP Top News at 8:07 p.m. EDT

AP Top News at 8:07 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The … Read the original article on Gaea Times at : AP Top News at 8:07 p.m. EDT.

AP Top News at 8:06 p.m. EDT

AP Top News at 8:06 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The [..] Read the original article: here.

AP Top News at 7:56 p.m. EDT

AP Top News at 7:56 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The … Read : AP Top News at 7:56 p.m. EDT.

AP Top News at 7:49 p.m. EDT

AP Top News at 7:49 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The … Original source on Gaea Times at : AP Top News at 7:49 p.m. EDT.

AP Top News at 7:47 p.m. EDT

AP Top News at 7:47 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The … Original source on Gaea Times at : AP Top News at 7:47 p.m. EDT.

AP Top News at 7:44 p.m. EDT

AP Top News at 7:44 p.m. EDT
Palin to tea party rally: Don’t sit down, shut upSEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign. The … Original article on : AP Top News at 7:44 p.m. EDT.

Palin pumps up tea party activists in dusty Nevada desert hometown of Democrat Harry Reid

Palin to tea party rally: Don’t sit down, shut up
SEARCHLIGHT, Nev. – Sarah Palin told thousands of tea party activists assembled in the dusty Nevada desert Saturday that Sen. Harry Reid will have to explain his votes when he comes back to his hometown to campaign.
The wind whipped … Original source on Gaea Times at : Palin pumps up tea party activists in dusty Nevada desert hometown of Democrat Harry Reid.

Obama’s requirement that Americans get health insurance was GOP idea around for years

Obama health insurance requirement taken from GOP
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 once trumpeted as an alternative …. Source article on Gaea Times at  : Obama’s requirement that Americans get health insurance was GOP idea around for years.

German industrial conglomerate Siemens wants to build wind turbine plant in UK

Siemens looks to build UK wind turbine plant

FRANKFURT – German industrial conglomerate Siemens AG says it wants to build a wind turbine production plant in the east or northeast of the U.K., but is still looking at locations.
Munich-based Siemens said in a statement Monday it is looking at potential sites and is focusing on harbor …. Original source  : German industrial conglomerate Siemens wants to build wind turbine plant in UK.

BSNL offers free installation to new broadband customers

NEW DELHI – State-run telecom operator Bharat Sanchar Nigam Ltd (BSNL) will offer free installation and unlimited data download for the first 15 days to customers who subscribe to its landline-based broadband service by March 31.

“BSNL will offer free installation, free broadband usage for first 15 days at speeds upto 2 mbps, free music and … Original article on : BSNL offers free installation to new broadband customers.

Additional LAF Operations ??? March 30 and 31, 2010

With a view to addressing the year-end liquidity requirements, it has been decided to conduct additional repo and reverse repo operations under Liquidity Adjustment Facility (LAF) on March 30 and 31, 2010 between 4.15 pm and 4.45 pm.
  Ajit Prasad
 Manager
Press Release : 2009-2010/1301

… Read the original article on Gaea Times at : Additional LAF Operations ??? March 30 and 31, 2010.

L&T bags Rs.1,400-crore order from Indian Oil

MUMBAI – Engineering major Larsen and Toubro (L&T) Monday said it has bagged a Rs.1,400 crore oil refinery project from state-run Indian Oil Corp.

“L&T has secured a major order valued at Rs.1,400 crore from Indian Oil Corporation for a 4.17 million tonnes per annum FCC (fluidised catalytic cracker) Reactor Regenerator project of a grassroots fuel … Read the original article on Gaea Times at : L&T bags Rs.1,400-crore order from Indian Oil.

Searchers believe they found remains of actor Errol Flynn’s son in Cambodia

Searchers: remains of Errol Flynn’s son found

PHNOM PENH, Cambodia – Forensic tests will be conducted on what two searchers believe are the remains of photographer Sean Flynn, son of Hollywood star Errol Flynn, who disappeared during the Cambodian War 40 years ago, the U.S. Embassy said Monday.
At least 37 journalists were killed or are listed …. Read the original article  : here.

Royal Bank of Scotland selling factoring unit to GE Capital

RBS sells German unit to GE Capital
LONDON – Royal Bank of Scotland Group PLC said Monday it has agreed to sell RBS Factoring GmbH, a unit that provides loans secured against company invoices, to GE Capital.

Terms of the sale, one of a series of divestments by the government-controlled bank, were not disclosed.
RBS Factoring’s loans are …. Original article on Gaea Times at  : Royal Bank of Scotland selling factoring unit to GE Capital.

Lentil … cookies? Healthy foods trend has farmers hoping to get legumes into more products

Farmers group touts lentils, other healthy legumes

BISMARCK, N.D. – Lentils are a hot topic among gourmets these days, with recipes for them popping up in most major food magazines.
Lentil and other legume farmers hope to capitalize on this interest and convince consumers and food producers to use them in breads and cookies as well as … Read more : Lentil … cookies? Healthy foods trend has farmers hoping to get legumes into more products.

THE INFLUENCE GAME: Lobbying pays off as drug industry hits jackpot with health overhaul.

THE INFLUENCE GAME: Drug lobby’s health care win
WASHINGTON – Chalk one up for the pharmaceutical lobby.
The U.S. drug industry fended off price curbs and other hefty restrictions in President Barack Obama’s health care law even as it prepares for plenty of new business when an estimated 32 million uninsured Americans gain …. Source  : THE INFLUENCE GAME: Lobbying pays off as drug industry hits jackpot with health overhaul..

Tata may source auto parts from Bangladesh

DHAKA – Indian auto giant Tata Motors has indicated interest in sourcing auto components from Bangladesh. But setting up a plant to manufacture the world’s cheapest car, Nano, would have to wait, a company official said.

According to Nitol Motors, Tata’s business partner here, a technical team from Tata will carry out a survey within the … Read : Tata may source auto parts from Bangladesh.

‘Blackmailing’ Bolivian sugar factories may be nationalised

La Paz, March 29 (IANS/EFE) Sugar refineries that are “blackmailing” the Bolivian people by selling their product at elevated prices may be nationalised, President Evo Morales has warned.

“If owners of sugar refineries continue selling their sugar more cheaply abroad and more dearly (domestically), I will see myself forced to nationalise … those factories, without any … Original source on Gaea Times at : ‘Blackmailing’ Bolivian sugar factories may be nationalised.

NKorea warns of deadly consequences over DMZ activities; no mention of sunken ship

NKorea accuses South of psychological warfare

SEOUL, South Korea – North Korea warned the U.S. and South Korea on Monday of deadly consequences for engaging in “psychological warfare” by allowing journalists into the heavily fortified Demilitarized Zone dividing the two Koreas.
The stern statement was the first from North Korea’s military since a South Korean naval ship … Read : NKorea warns of deadly consequences over DMZ activities; no mention of sunken ship.

Oil rises above $80 in Asia as investors look to US jobs data later this week

Oil above $80 as traders look to US jobs data

SINGAPORE – Oil prices rose above $80 a barrel Monday in Asia as investors look to a key U.S. jobs report later this week for clues about the outlook for consumer spending.
Benchmark crude for May delivery was up 64 cents to $80.64 a barrel at late …. Source  : Oil rises above $80 in Asia as investors look to US jobs data later this week.

Sensex starts week in the green

MUMBAI – A benchmark index for Indian equities started the week in the green and was ruling about 40 points higher an hour into trade Monday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,639.18 points, was ruling at 17,682.87 points, 38.11 points or 0.22 percent higher than its previous …. Original source  : Sensex starts week in the green.

Asian stock markets mostly higher as Chinese company earnings boost sentiment.

Asian stock markets mostly higher
HONG KONG – Asian stock markets were mostly higher Monday as stronger earnings from Chinese companies and a deal to provide Greece a financial safety net helped buoy sentiment.

The dollar was higher against the yen, while crude oil prices rose as investors showed more appetite for riskier assets.
Chinese shares led the …. Original article  : Asian stock markets mostly higher as Chinese company earnings boost sentiment..

Money Market Operations as on March 26, 2010

…. Source  : Gaea News Network.

Women-driven taxis are popular in Middle East

CAIRO – Fleets of “pink” taxis, driven by women, are cruising the streets of Middle East cities, providing a safe and comfortable ride for women wary of getting into taxis driven by men.

“Many times I had problems with (male) drivers acting indecently,” said Noha Mohammed, a veiled Egyptian housewife.
“When I told my husband, he …. Source  : Gaea News Network.

Asian stock markets mixed in early trading after tepid session on Wall Street

Asian stock markets mixed in early trading

TOKYO – Asian markets were mixed early Monday after shares in New York on Friday gave back most of their gains on concerns over whether a recent rally could be sustained.
Japan’s benchmark Nikkei 225 stock average was down 57.24 points, or 0.5 percent, at 10,939.13 while South Korea’s Kospi …. Source article on Gaea Times at  : Asian stock markets mixed in early trading after tepid session on Wall Street.

Chinese firm buys Volvo’s car plant for $1.8 bn

GOTEBORG – China’s Geely Holding Group has signed a deal worth $1.8 billion with Ford Motor Co. to acquire the US auto giant’s Volvo car manufacturing unit in Sweden.

Under the definitive stock purchase deal, Geely will own 100 percent of Volvo Cars and its related assets.
The agreement was inked Sundya by Li Shufu, founder …. Original article on Gaea Times at  : Chinese firm buys Volvo’s car plant for $1.8 bn.

Shell sells New Zealand refining and distribution businesses for $490 million

Shell sells New Zealand gas stations for $490M

WELLINGTON, New Zealand – Royal Dutch Shell PLC is selling its century-old distribution and retail business in New Zealand, including hundreds of gas stations and a share in the country’s only oil refinery, for 696 million New Zealand dollars ($490 million).
Europe’s largest oil company said Monday the assets …. Read the original article  : Shell sells New Zealand refining and distribution businesses for $490 million.

Iran’s nuclear program to top agenda when G-8 foreign ministers meet in Canada

Iran sanctions top concern at G-8 meeting
OTTAWA – Iran’s nuclear program is of “critical concern” and will top the agenda when foreign ministers from the Group of Eight nations meet Monday to discuss global security, Canada’s foreign minister said.

Foreign Minister Lawrence Cannon said he’ll press for stiffer sanctions against Iran when G-8 ministers assemble in … Read more >>.

UK economy grew 0.4 percent in 4th quarter, stronger than previous estimates

UK Q4 growth revised upward again to 0.4 pct

LONDON – Official data shows the British economy grew 0.4 percent in the fourth quarter, faster than previously estimated.
The quarter marked the official end to the country’s deep recession, which lasted six quarters.
The first estimate showed the economy barely growing by 0.1 percent, and a second estimate …. Source  : Gaea News Network.

German truck, bus maker Daimler to expand commercial vehicle production in Brazil

Daimler expands commercial production in Brazil

FRANKFURT – German automotive group Daimler AG says it will expand commercial vehicle production through its Mercedes-Benz plant in Juiz de Fora in the state of Minas Gerais, Brazil, starting in 2011.
The Stuttgart-based company did not provide details Tuesday about cost, or what models it might produce, but said it … Read more >>.

Kerala government, opposition spar over Smart City Kochi project

THIRUVANANTHAPURAM – The Kerala assembly today witnessed uproarious scenes over the proposed Rs.1,500 crore Smart City Kochi project, the work on which has been stalled amid differences between the builder and the government.

The Congress-led opposition criticised the government for its “poor” handling of the project, saying it had reached a stage which can be summed …. Read the original article  : here.

Larsen & Toubro bags orders worth Rs.1,126 crore

NEW DELHI – Engineering and construction major Larsen and Toubro (L&T) Tuesday said one of its units has secured orders worth Rs.1,126 crore for metallurgical, material handling and water sector projects.

Among the orders are a Rs.300-crore contract from Sterlite Industries to construct a copper smelter plant in Tamil Nadu and a Rs.210-crore project from Hindalco … Read more »».

Brazil announces $880 bn infrastructure plan

Brasilia, March 30 (IANS/EFE) Brazil has announced plans to build $880 billion-worth of infrastructure between 2010 and 2016.

The projects are part of an economic stimulus programme whose first phase is half-completed, President Luiz Inacio Lula da Silva announced Monday.
The new plan, named the ‘Growth Acceleration Program 2′ or PAC 2, emphasises on increasing the … Read more »».

Irish government prepares to outline plans for banks; further nationalization expected

Ireland seen nationalizing more banks in new plan

DUBLIN – Ireland’s government prepared Tuesday to announce new steps to solve its banking crisis, with the effective nationalization of two or three more banks expected to be part of the process.
Finance Minister Brian Lenihan, who was briefing the Cabinet on his plans Tuesday morning, spoke of solving [..] Read the original article: here.

Euro higher to $1.3515 in European morning trade after Greek bond sale reassures markets

Euro keeps rising as Greek bond sale reassures

FRANKFURT – The euro has continued to rise against the dollar after Greece was able to raise ???5 billion ($6.7 billion) through a bond issue.
The 16-nation euro is at $1.3515 in European morning trade Tuesday, from $1.3463 late Monday in New York.
The British pound is higher, buying $1.5048 … Read more >>.

Oil rises to near $83 in Asia, extending gains as stock markets climb

Oil rises to near $83 as Asian equities gain

SINGAPORE – Oil prices rose to near $83 a barrel Tuesday in Asia, extending gains from the previous day fueled by a U.S. dollar drop and surging equity markets.
Benchmark crude for May delivery was up 41 cents to $82.58 a barrel at late afternoon Singapore time in … Read the original article on Gaea Times at : Oil rises to near $83 in Asia, extending gains as stock markets climb.

SAIL to form venture with Shipping Corporation

NEW DELHI – Steel Authority of India Ltd (SAIL) will form a joint venture company (JVC) with the Shipping Corporation of India (SCI) that will cater to the growing raw material import needs of the steel maker.

“SAIL is keenly focused on ensuring its long-term raw material security and will continue to give thrust on logistics … Read : SAIL to form venture with Shipping Corporation.

G-8 club of wealthy nations push ahead in drive for new Iran sanctions

G-8 nations press Iran sanctions drive
OTTAWA – Top diplomats from the world’s leading economies are ramping up pressure on Iran to prove its nuclear ambitions are peaceful, renewing calls for the country to be hit with new international sanctions if it fails to comply.
In meetings outside the Canadian capital … Read this article on Gaea Times at : G-8 club of wealthy nations push ahead in drive for new Iran sanctions.

Auction Calendar ??? LAF

The Reserve Bank of India announces the calendar of auction for Liquidity Adjustment Facility (LAF) for the quarter April – June 2010. There is no change in the existing terms and conditions under which the Liquidity Adjustment Facility auctions are conducted.
Calendar for overnight Repo and Reverse Repo Auctions

Date of …. Source  : Auction Calendar ??? LAF.

Irish carrier Aer Lingus says full-year loss increases 18 percent to $176 million

Aer Lingus full-year loss widens 18 pct
DUBLIN – Irish airline Aer Lingus Group PLC on Tuesday said its full year loss widened by 18 percent in 2009 to euro130 million ($176 million) as revenue declined amid a painful recession.

The figure compared with the previous year’s loss of euro109.8 million. Revenue fell from euro1.35 billion to … Read the original article on Gaea Times at : Irish carrier Aer Lingus says full-year loss increases 18 percent to $176 million.

DSM chemicals sells fertilizers, melamine businesses to Orascom for $418 million

DSM sells fertilizer arm for $418 million
AMSTERDAM – Royal DSM NV, the Dutch chemicals company, says it will sell its fertilizer and melamine businesses to Egypt’s Orascom Construction Industries for ???310 million ($418 million).

The fertilizer business makes high-nitrogen fertilizers for agricultural crops. Melamine is used in laminates used on furniture and flooring.
DSM said the disposal …. Read the original article  : DSM chemicals sells fertilizers, melamine businesses to Orascom for $418 million.

Food inflation coming down: Cabinet secretary

NEW DELHI – Food inflation is coming down, with sugar and vegetable prices falling and other indicators remaining stable, cabinet secretary K.M. Chandrashekhar said Tuesday.

Sugar prices have come down. Pulses have come down. Wheat and rice are stable. Edible oils are stable. Vegetables are coming down, Chandrashekar told reporters on the sidelines of a conference …. Source  : Gaea News Network.

CEO says Ice Edge still on track to purchase Coyotes, hires former Arizona AG to finalize deal

Ice Edge CEO says Coyotes purchase still on track

GLENDALE, Ariz. – The head of Ice Edge Holdings says his company remains on track to purchase the Phoenix Coyotes, despite widespread speculation that the acquisition is in trouble over financing.
Chief executive officer Anthony LeBlanc also says the company has hired former Arizona attorney general Grant Woods … Read more >>>.

US and Vietnam sign nuclear energy and security agreement

US and Vietnam sign nuclear energy agreement
HANOI, Vietnam – The United States and Vietnam signed an agreement Tuesday that may pave the way for U.S. firms to help build nuclear plants in the Southeast Asian country as it strives to meet booming energy demand.
The new agreement addresses nuclear safety and nonproliferation concerns and …. Source  : Gaea News Network.

Oil hovers above $82 in Asia after US dollar drop, stock rally fuels jump previous day

Oil hovers above $82 after leaping previous day

SINGAPORE – Oil prices were steady above $82 a barrel Tuesday in Asia, pausing after a leap the previous day fueled by a U.S. dollar drop and surging equity markets.
Benchmark crude for May delivery was up 6 cents to $82.23 a barrel at midday Singapore time in electronic …. Source article on Gaea Times at  : Oil hovers above $82 in Asia after US dollar drop, stock rally fuels jump previous day.

Japan’s industrial output falls in February for the first time in year; jobless rate steady

Japan’s factory output down, jobless rate steady

TOKYO – Cautious Japanese companies laid off more workers and hit the brakes on production in February, sending factory output down for the first time in a year.
Industrial production in the world’s second-biggest economy retreated 0.9 percent from January, following 11 consecutive months of gains, the government said Tuesday. …. Source  : Japan’s industrial output falls in February for the first time in year; jobless rate steady.

Toyota holds quality meeting to help repair reputation; promises quicker complaint response

Toyota promises quicker response on quality issues

TOYOTA, Japan – Toyota promised Tuesday to respond faster to customer complaints as it held its first meeting of a committee of quality experts set up to help salvage a reputation battered by massive recalls and reports of runaway vehicles.
Toyota Motor Corp. appointed chief quality officers in key regions …. Original article on Gaea Times at  : Toyota holds quality meeting to help repair reputation; promises quicker complaint response.

Pakistan puts Buddhist tourism back on track

ISLAMABAD – Tourism in Pakistan, affected by Islamist violence since 9/11, is expected to get a boost with the promotion of the major Buddhist heritage site that cradled the first century Gandhara civilisation.

Led by monks from Thailand, the World Fellowship of Buddhists (WFB) is on its first official visit to the country for promotion of … Read more »».

As protests roil Thai capital, former leader Thaksin trots globe, rallies supporters by video

Fugitive Thaksin continues global wanderings

BANGKOK – From Dubai to Sweden and now Russia: It’s been a busy travel week for Thailand’s fugitive former leader Thaksin Shinawatra.
As tens of thousands of his rural supporters camp out in Bangkok, pressing the government to call fresh elections, the 60-year-old tycoon is trotting the globe in search of business …. Original article  : As protests roil Thai capital, former leader Thaksin trots globe, rallies supporters by video.

Premier Farnell launches enhanced free EAGLE software version 5.8

BANGALORE – Premier Farnell plc (LSE:pfl), the leading multi-channel, high service distributor, has announced the launch of EAGLE software version 5.8.

This enhanced version of CadSoft’s award winning software, Europe’s best selling CAD … Read more >>.

18th convergence India focusing on green ICT

NEW DELHI – Communications developing at a breathtaking pace is largely driven by devices, which are more compact but features added capabilities.

Growing competition has provided an ideal environment for technological innovations and new applications. “More importantly these devices and services are …. Source  : 18th convergence India focusing on green ICT.

German unemployment rate declines to 8.5 percent in March

German jobless rate down to 8.5 percent
BERLIN – Official data show the unemployment rate in Germany, Europe’s biggest economy, declined to 8.5 percent in March.

The unadjusted jobless rate is down from 8.7 percent in February. Federal Labor Agency chief Frank-Juergen Weise said Wednesday that the labor market benefited from a traditional spring revival.
The total number … Original source on Gaea Times at : German unemployment rate declines to 8.5 percent in March.

UK regulator says Sky broadcasting must offer sports channels to other retailers

UK regulator: Sky must share sports channels

LONDON – The U.K. broadcasting regulator said Wednesday that British Sky Broadcasting PLC must make its two main sports channels available to other retailers, a preliminary ruling Sky said it would appeal.
The regulator, OFCOM, said Sky should offer to supply Sky Sports 1 and 2 to other outlets, including …. Read the original article  : UK regulator says Sky broadcasting must offer sports channels to other retailers.

L&T bags contracts worth Rs.1,017 crore

NEW DELHI – Engineering and construction major Larsen & Toubro (L&T) said Wednesday it has bagged orders worth Rs.1,017 crore.

In a regulatory filing, the company said it has secured a major design and build order worth Rs.566 crore from Cognizant Technology Solutions India to build an IT campus, residential towers and factory buildings in Chennai. …. Source  : Gaea News Network.

A look at the perks and penalties in the new health care bill for small-business owners

Health care perks, penalties for small businesses

Some highlights of the health care law for small businesses:
PENALTIES – Companies aren’t required to offer insurance but face an annual $2,000-per-employee fee if the government ends up subsidizing workers’ coverage. Companies with fewer than 50 employees are exempt.
TAX CREDIT: Employers with 25 or fewer workers with average annual … Read this article on Gaea Times at : A look at the perks and penalties in the new health care bill for small-business owners.

Small businesses fret over new health law that mixes promised savings with added costs, fines

Small businesses fret over details of health law
BOSTON – Small-business owner Joe Ascioti says Massachusetts’ 2006 health care law has left him facing $15,000 in fines since it took effect. Now, he’s worried the nation’s new health care overhaul could bring similar woes to employers nationwide.
“The state has mandated something that is one … Read more »»».

Momentive plans research centre in Chennai

CHENNAI – US-based silicones manufacturer Momentive Performance Materials is planning to set up a research and development (R&D) centre in Chennai to meet local customer needs.

“We have a global R&D centre in Bangalore with 30 scientists. Though they are employees of General Electric they do dedicated work for us. There is a plan to set …. Original source  : Momentive plans research centre in Chennai.

Bank of Ireland in $2 billion loss for last 9 months of 2009, impairment charges top ???4 bln

Bank of Ireland makes 9-month loss of $2 billion

LONDON – Bank of Ireland on Wednesday reported a loss of euro1.47 billion ($2 billion) for the final nine months of 2009 as it booked impairment charges of just over euro4 billion on bad loans.
The earnings report came a day after the Irish government announced plans to … Read more >>>.

GOP leaders temper call for repealing health law, saying jobs, economy are key to fall races

GOP wary of health law repeal push in fall races
WASHINGTON – Top Republicans are increasingly worried that GOP candidates this fall might be burned by a fire that’s roaring through the conservative base: demand for the repeal of President Barack Obama’s new health care law.
It’s fine to criticize the health law … Read more >>>.

With Wash. wine industry at 650 and growing, winemakers seek new ways to set themselves apart

Washington wine industry tops 650 wineries

SUNNYSIDE, Wash. – Hugh and Kathy Shiels wanted to stand out when they started Cote Bonneville winery in 2001, and at $100 a bottle for their initial vintage, they certainly did.
Some criticized the eastern Washington winery for charging so much for unproven wines, but Cote Bonneville has received high scores …. Read the original article  : With Wash. wine industry at 650 and growing, winemakers seek new ways to set themselves apart.

Euro slips in early European trading as Greek worries persist, buys $1.3394

Euro slips below $1.34
FRANKFURT – The euro has slipped below $1.34 as concern persists over indebted Greece’s high borrowing costs and markets await eurozone unemployment figures.

The 16-nation currency bought $1.3394 in early European trading Wednesday – down from $1.3419 in New York late Tuesday.
The British pound slid to $1.5045 from $1.5061 and the dollar was … Read : Euro slips in early European trading as Greek worries persist, buys $1.3394.

Indian equities lose ground after firm start

MUMBAI – Indian equities started trade on a strong note in the last session of the current fiscal Wednesday but slipped into the red as investors resorted to profit booking.

The sensitive index (Sensex) opened at 17,602.39 points, against the previous close at 17,590.17 points, and moved up to 17,699.50 points. But the index subsequently slipped …. Source article on Gaea Times at  : Indian equities lose ground after firm start.

Asian stock markets mostly lower ahead of US jobs figures, holidays

Asian markets lower ahead of jobs data, holidays

HONG KONG – Asian stock markets were mostly lower Wednesday as investors pared bets ahead of a key U.S. jobs report on Friday and the Easter long weekend.
The lackluster trade in most markets followed gains the day before. The dollar strengthened against the euro and the yen, while [..] Read the original article: here.

Power-starved Bangladesh bans evening use of ACs

DHAKA – Bangladesh has banned use of air coolers and air conditioners during evening peak hours in all establishments, except hospitals and hotels, across the country to tackle the ongoing power crisis.

The government took the step Tuesday amidst reports that power cuts in major hospitals, including the Dhaka Medical college Hospital, had caused disruption in …. Source  : Gaea News Network.

Australia gives in-principle approval for Nomura unit to set up 2nd Australian stock exchange

Australia approves in principle 2nd stock exchange

CANBERRA, Australia – Australia is ending its stock exchange’s monopoly and has given approval in principle to a unit of Japanese brokerage Nomura to open a second exchange in a move to spur development of the industry, the financial services minister said Wednesday.
Australia needs to open its share market … Read this article on Gaea Times at : Australia gives in-principle approval for Nomura unit to set up 2nd Australian stock exchange.

Joblessness in Spain will rise to 19.4 percent in 2010

Madrid, March 31 (IANS/EFE) The unemployment rate in Spain will rise to 19.4 percent this year and 19.7 percent in 2011, the country’s central bank has said.

Job creation will not start until the “final quarters” of 2011, the Banco de Espaa said Tuesday in a report on the economic outlook for the country.
The central … Read more : Joblessness in Spain will rise to 19.4 percent in 2010.

Philippines defends airline safety after EU ban

MANILA – The Philippines Wednesday defended the safety of its airlines after the European Union banned all airlines from the South-East Asian country from flying into Europe.

Alfonso Cusi, director general of the Civil Aviation Authority of the Philippines, said the EU ban does not mean that Philippine aircraft are unsafe.
“Our aircraft meet the international … Read more »»».

Oil hovers above $82 in Asia after mixed supply report suggests US crude demand recovering

Oil hovers above $82 after mixed US supply report

SINGAPORE – Oil prices hovered above $82 a barrel Wednesday in Asia after a report gave mixed indications about the strength of U.S. crude demand.
Benchmark crude for May delivery was up 4 cents to $82.41 a barrel at late afternoon Singapore time in electronic trading on the …. Source article on Gaea Times at  : Oil hovers above $82 in Asia after mixed supply report suggests US crude demand recovering.