Pressure on Greek finances intensifies as borrowing costs spike for 3rd consecutive day

Greek borrowing costs hit new record high
ATHENS, Greece – Greece’s borrowing costs have spiked higher for a third day, intensifying the country’s debt crisis and suggesting a eurozone rescue program is providing little support.

The interest rate gap, or spread, between Greek 10-year government bonds and the German equivalent, considered a benchmark of stability, spiraled to …. Original article  : Pressure on Greek finances intensifies as borrowing costs spike for 3rd consecutive day.

Air India in 190 million dollars deal for SITA’s horizon passenger services system

NEW DELHI – The National Aviation Company of India (NACIL) today announced that SITA, the aviation IT specialist, has been selected to provide its hosted Horizon Passenger Services System (PSS) to Air India on a turnkey basis following a global competitive tendering process. The deal with the 13.5 million … Original article on : Air India in 190 million dollars deal for SITA’s horizon passenger services system.

Lawmakers want State Department to rethink Cuba aid program’s shift to private contractors

US funding of Cuba democracy work draws scrutiny
MIAMI – During the waning months of 2008, the Bush administration quietly pushed through two major contracts to international development companies in an effort to spend a record $45 million to support regime change in Cuba.
It was the first time Cuba funds went to private contractors, … Read more »»».

European Central Bank set to keep rates on hold as recovery from recession proves paltry

European Central Bank set to keep rates unchanged

LONDON – The European Central Bank is set to indicate Thursday that borrowing costs will remain low for much, if not all, of this year as the recovery from recession in the 16 countries that use the euro currency remains fragile.
In the press conference following the widely expected [..] Read the original article: here.

Marks & Spencer sales up 5 percent in 13 weeks to March 27, better than forecast

Marks & Spencer Q4 sales rise 5 pct
LONDON – British food and clothing retailer Marks & Spencer Group PLC said Thursday that sales in its fourth quarter were up 5 percent, better than forecast, led by a 10 percent jump in non-food sales in its home market.

The figures cover the 13 weeks to March 27 … Original source on Gaea Times at : Marks & Spencer sales up 5 percent in 13 weeks to March 27, better than forecast.

Executive at Toyota urged automaker to ‘come clean’ about problems with its gas pedals

Toyota exec urged automaker to ‘come clean’

WASHINGTON – In the days leading up to its massive recall in January, Toyota executives debated when they should inform the public about safety problems with accelerator pedals, prompting one executive to urge the company to “come clean,” according to documents obtained by The Associated Press.
Irv Miller, Toyota’s then-group …. Source  : Executive at Toyota urged automaker to ‘come clean’ about problems with its gas pedals.

British Airways and Iberia sign merger deal to create one of world’s biggest airline groups

BA and Iberia sign merger deal
LONDON – British Airways PLC and Spain’s Iberia SA signed a merger agreement on Thursday, moving a step closer to completing a long-awaited deal to create Europe’s third largest airline and secure the two loss-making carriers’ future.

The companies plan to finalize the tie-up, forming a carrier with a market value …. Original article  : British Airways and Iberia sign merger deal to create one of world’s biggest airline groups.

BEE launches national awareness programme on standards and labeling for air conditioners

MUMBAI – Bureau of Energy Efficiency (BEE), a statutory body under the Union Ministry of Power, has launched a national education programme on star labeling for air conditioners.

BEE, with support from Emerson Climate Technologies and International Copper Association, will conduct a comprehensive education programme across India aimed at the sales channels and end users to … Read more : BEE launches national awareness programme on standards and labeling for air conditioners.

H&M 1st quarter profit rises 45 percent on higher sales, store expansion

H&M Q1 profit rises 45 pct on store expansion

STOCKHOLM – Swedish fashion chain Hennes & Mauritz AB on Thursday said profits rose 45 percent in first quarter, helped by higher sales and an increased number of stores.
Europe’s No. 2 fashion retailer said net profit in the three months to Feb. 28, its fiscal first quarter, … Read more »».

Peabody Energy complains to Australian regulator about Macarthur Coal handling of takeover bid

Peabody Energy complains about Macarthur Coal

SYDNEY – U.S.-based Peabody Energy has filed a formal complaint with Australian regulators over Macarthur Coal Ltd.’s handling of a $3.3 billion takeover offer that Macarthur rejected this week.
Peabody complained to the Takeovers Panel that Macarthur, a major exporter of pulverized coal used by steelmakers, failed to provide shareholders with …. Original source  : Peabody Energy complains to Australian regulator about Macarthur Coal handling of takeover bid.

Oil hovers below $86 in Asia as tepid US crude demand stalls 2-month rally

Oil hovers below $86 as 2-month rally stalls

SINGAPORE – Oil prices hovered below $86 a barrel Thursday in Asia after the U.S. reported rising crude inventory levels, suggesting demand remains muted.
Benchmark crude for May delivery was down 9 cents to $85.79 a barrel at late afternoon Singapore time in electronic trading on the New York … Read more : Oil hovers below $86 in Asia as tepid US crude demand stalls 2-month rally.

Rubin, Prince to be pressed by inquiry panel on Citigroup’s role in mortgage debt meltdown

Ex-Citi executives face questions on mortgages

WASHINGTON – Two former top executives of Citigroup Inc. are expected to be pressed by a special panel about the banking titan’s role in spreading high-risk mortgage debt through the financial system.
Robert Rubin, a former U.S. Treasury secretary who was a senior adviser and chairman of Citigroup during the mortgage … Read more »»».

United and US Airways in merger talks, picking up where they left off in 2008

United, US Airways in merger talks
MINNEAPOLIS – The CEOs of United Airlines and US Airways have both been up front about their desire to merge with another airline. Now it appears they’re talking to each other.

The two are in talks about a combination that would create the nation’s second-biggest airline, a person with knowledge of … Read more >>>.

Today in History

Today in History
Today is Thursday, April 8, the 98th day of 2010. There are 267 days left in the year.

Today’s Highlight in History:
On April 8, 1974, Hank Aaron of the Atlanta Braves hit his 715th career home run in a game against the Los Angeles Dodgers, breaking Babe Ruth’s record.
On this date:
In 1513, explorer Juan …. Source  : Gaea News Network.

Protesters prepare for mass rally, defy state of emergency decree in Bangkok

Protesters defy state of emergency in Bangkok

BANGKOK – Defiant anti-government demonstrators dared Thailand’s government Thursday to break up their escalating protests, vowing to stage a mass rally in the capital despite a state of emergency that empowers the military to move against large gatherings.
The country’s beleaguered prime minister declared the emergency Wednesday night after protesters … Original source on Gaea Times at : Protesters prepare for mass rally, defy state of emergency decree in Bangkok.

Money Market Operations as on April 07, 2010

…. Read the original article  : here.

Asian markets fall, led by Japan, as investors look for catalyst to extend year-long surge

Asian stocks drop as investors eye global recovery

SINGAPORE – Asian stock markets slumped Thursday as investors mulled whether the global economic recovery is strong enough to justify extending a year-long surge in equities.
Japan’s benchmark Nikkei 225 stock average fell 124.63 points, or 1.1 percent, to 11,168.20 while Indonesia dropped 1.4 percent, Malaysia slid 0.9 percent …. Source article on Gaea Times at  : Asian markets fall, led by Japan, as investors look for catalyst to extend year-long surge.

US judge seizes $105 million from Argentina, saying central bank lacks independence

US judge seizes $105 million in Argentine funds

BUENOS AIRES, Argentina – Argentina quickly said it would file a court appeal after a U.S. federal judge ruled Wednesday that bondholders can seize $105 million in Argentine central bank deposits held in the United States.
A bank spokesman told The Associated Press that Argentina was optimistic because similar …. Source article  : US judge seizes $105 million from Argentina, saying central bank lacks independence.

US court won’t stop April 27 auction of Philly newspapers, but fast-tracks appeal on bid rules

No delay of April 27 auction for Philly newspapers

PHILADELPHIA – Creditors hoping to take over Philadelphia’s two largest newspapers lost a motion Wednesday to delay a scheduled bankruptcy auction this month, but a U.S. appeals court agreed to expedite their request to reconsider a crucial bid issue.
Secured creditors want the full 3rd U.S. Circuit Court …. Read the original article  : US court won’t stop April 27 auction of Philly newspapers, but fast-tracks appeal on bid rules.

Monsanto, Netflix, Massey Energy, Family Dollar Stores among big market movers Wednesday

Monsanto, Netflix, Massey Energy are big movers

NEW YORK – Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Monsanto Co., down $1.44 at $68.09
Sliding prices for the seed maker’s popular herbicide hurt profit, and cutting seed prices will hurt its income for the next two years.
CKE Restaurants … Original source on Gaea Times at : Monsanto, Netflix, Massey Energy, Family Dollar Stores among big market movers Wednesday.