Requiem for the floppy: Sony to stop sales

LONDON – Sony has announced it will stop selling floppy disks from March 2011 because of falling sales, a media report said hereTuesday.

The Japanese electronics giant had stopped selling the disks in many international markets earlier this year due to low demand and competition from other storage media such as online storage and … Original source on Gaea Times at : Requiem for the floppy: Sony to stop sales.

Danish drug maker Novo Nordisk 1st quarter profit soars 23 percent, helped by insulin sales

Novo Nordisk Q1 profit up 23 pct, lifts outlook

COPENHAGEN – Danish drug maker Novo Nordisk A/S says its first quarter profit soared 23 percent, helped by increased sales of modern insulin products.
The world’s top producer of insulin Tuesday said net profit in the January to March period reached 3.3 billion kroner ($595 million), up from … Read more : Danish drug maker Novo Nordisk 1st quarter profit soars 23 percent, helped by insulin sales.

BP 1st quarter profit more than doubles from year earlier due to rebounding oil price

BP profit more than doubles in Q1
LONDON – BP PLC, Europe’s second-largest oil company, said Tuesday that first-quarter profit more than doubled from a year earlier to $6.1 billion due to higher crude prices and lower production costs and taxes.

Despite handily beating analysts’ forecasts, BP shares fell slightly Tuesday as the market continued to worry …. Original article on Gaea Times at  : BP 1st quarter profit more than doubles from year earlier due to rebounding oil price.

Sensex down in choppy trade

MUMBAI – In choppy trade Tuesday, a benchmark index of Indian equities was down after recording five days of gains.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,744.93 points, was ruling at 17,719.35 points, 25.93 points or 0.15 percent lower than its previous close at 17,745.28 points. … Read more >>.

Greek PM to brief governing Socialist lawmakers on rescue deal as unions plan protests

Greek PM to brief party deputies on rescue deal

ATHENS, Greece – Greece’s prime minister will brief governing Socialist party lawmakers on the eurozone and International Monetary Fund bailout package, as unions plan more protests.
George Papandreou formally requested the aid last week after the debt-ridden country’s costs of borrowing from markets hit forbiddingly high levels.
Civil servants, … Read more »».

Mindlance to set up development centre in Jaipur

JAIPUR – US-based IT service provider Mindlance is planning to set up a development centre here as part of its India strategy focusing on smaller cities.

“Jaipur is fast emerging as a key IT services destination due to its best-in-class infrastructure, an extremely supportive government and availability of talent. It complements our plan to expand … Read this article on Gaea Times at : Mindlance to set up development centre in Jaipur.

‘Attractive’ CEOs earn more

WASHINGTON – A CEO’s appearance can qualify the executive for a paycheck higher than his less “executive looking” colleague, according to a new study.

In the research, Duke University researchers revealed strong ties between appearance and success in the business world.
By pairing photos of the chief executive officers of large and … Read the original article on Gaea Times at : ‘Attractive’ CEOs earn more.

Sony to stop selling floppy disks

LONDON – Japanese electronics giant Sony has announced that it will stop selling floppy disks from March 2011 due to falling sales, a media report said Tuesday.

Sony had stopped selling the disks in many international markets earlier this year due to low demand and competition from other storage media such as online storage and portable …. Source article on Gaea Times at  : Sony to stop selling floppy disks.

State Bank of Travancore improves Mid-East operations

THIRUVANANTHAPURAM – The State Bank of Travancore (SBT) will beef up its operations in the Middle East to shore up non-resident Indian (NRI) deposits.

In the 2009-10 fiscal, the public sector bank’s NRI deposits fell to Rs.2,455 crore from Rs.2,500 crore in 2008-09.
A.K. Jagannathan, the bank’s managing director, told reporters here Monday night that … Original source on Gaea Times at : State Bank of Travancore improves Mid-East operations.

India-Latin America meet to consider $10.39 billion deals

NEW DELHI – Business proposals worth $10.39 billion (Rs.46,755 crore) will be discussed at a conclave of Indian and Latin American and Caribbean (LAC) firms here later this week, the Confederation of Indian Industry (CII) said Tuesday.

“Project proposals worth $10.39 billion will be discussed during the conclave across a wide cross-section of business sectors, …. Source  : Gaea News Network.

Norwegian aluminum group Norsk Hydro reports return to Q1 profit on improving market

Norsk Hydro reports 1st quarter profit
OSLO – Norwegian aluminum producer Norsk Hydro ASA reported Tuesday a first-quarter net profit of 924 million kroner ($157.1 million) due to an increase in aluminum prices and demand.

That compared with a loss of 280 million kroner a year earlier.
Quarterly revenue jumped to 18.15 billion kroner ($3.1 billion) from 16.57 … Original article on : Norwegian aluminum group Norsk Hydro reports return to Q1 profit on improving market.

Mixed response to strike in Tamil Nadu

CHENNAI – The nationwide strike called by 13 parties to protest rising food prices evoked mixed response in Tamil Nadu Tuesday.

While normal life was largely unaffected, shops in a few districts like Karur, Gobichettipalayam and Mayiladuthurai were closed.
Production in textile units in Karur and Tirupur were affected as workers did not turn up for … Read this article on Gaea Times at : Mixed response to strike in Tamil Nadu.

Germany’s Deutsche Bank says 1st quarter net profit up 50 percent to $2.4 billion

Deutsche Bank makes $2.4 bln profit in Q1
BERLIN – Deutsche Bank AG reported Tuesday a 50 percent rise in profit for the first quarter of the year due to booming earnings in investment banking.

The company earned euro1.8 billion ($2.4 billion) amid improving results from the sale of debt and equities, up from last year’s first …. Source article  : Germany’s Deutsche Bank says 1st quarter net profit up 50 percent to $2.4 billion.

Price rise, cricket stall parliament (Afternoon Lead)

NEW DELHI – Spiralling prices and Prime Minister Manmohan Singh’s rejection of a probe into phone tapping and alleged wrongdoings in the lucrative Indian Premier League (IPL) stalled parliament Tuesday, forcing the adjournment of both houses.

While the Lok Sabha was adjourned twice, so was the Rajya Sabha, the second time for the day.
The trouble … Original source on Gaea Times at : Price rise, cricket stall parliament (Afternoon Lead).

12-hour strike cripples life in Tripura

AGARTALA – A nationwide dawn-to-dusk strike called by 13 parties against rising prices Tuesday brought life to a halt in Tripura.

“The strike was total with people expressing their anger against the central government’s failure to check price rise,” Communist Party of India-Marxist (CPI-M) leader Bijon Dhar told reporters.
Most markets, shops and business establishments, government … Read this article on Gaea Times at : 12-hour strike cripples life in Tripura.

Opposition legislators evicted from Tamil Nadu assembly

CHENNAI – Legislators belonging to opposition parties were ordered out of the Tamil Nadu assembly Tuesday after they staged vocal protests in the house over rising food prices.

As the house met, opposition members demanded a discussion on the issue in place of the question hour.
The protesting legislators belonged to the AIADMK, MDMK, Communist Party …. Original source  : Opposition legislators evicted from Tamil Nadu assembly.

Opposition shutdown hits transport in Andhra Pradesh

HYDERABAD – The day-long shutdown called by opposition parties against price rise evoked partial response in Andhra Pradesh affecting transport services.

State-owned Road Transport Corp (RTC) stopped plying buses in several places in Andhra Pradesh as opposition workers held demonstrations outside bus depots and staged road blockades, police said.
Shops and business establishments in some towns …. Source article  : Opposition shutdown hits transport in Andhra Pradesh.

Strike against prices hits life in parts of India

NEW DELHI – Normal life was hit hard in West Bengal, Kerala, Tripura and parts of Uttar Pradesh, Andhra Pradesh and Tamil Nadu as activists of 13 opposition parties staged a 12-hour nationwide strike to denounce the government over rising food prices.

The protests were called by 13 opposition parties including the Left Front, Samajwadi Party, … Read the original article on Gaea Times at : Strike against prices hits life in parts of India.

Sweden’s Swedbank returns to profit in Q1 amid lower credit losses in the Baltics

Swedbank returns to profit in Q1, Baltics recover

STOCKHOLM – Swedbank AB, one of Sweden’s four main banks, Tuesday said it has returned to profit for the first time since 2008 as a result of significantly lower credit losses in the Baltic countries.
The bank, which has had a tough time with defaults in the Baltic countries … Read : Sweden’s Swedbank returns to profit in Q1 amid lower credit losses in the Baltics.

Asian stocks fall as worries about Greece, China weigh on sentiment; Shanghai down 3 pct

Asian stocks fall as Greece, China worries weigh

HONG KONG – Most Asian stock markets dropped Tuesday as worries about Greece’s rescue plan and China’s measures to slow its economy held investors back.
Chinese stocks led the decline with a 3 percent loss. The dollar weakened against the yen and rose against the euro, while oil prices … Read : Asian stocks fall as worries about Greece, China weigh on sentiment; Shanghai down 3 pct.