Global stock markets mixed as European debt crisis continues to unsettle investors

World stocks mixed amid caution over Europe crisis

HONG KONG – Global stock markets were mixed Thursday after two days of selling, with investors treading cautiously after Spain became the third European country this week hit with a downgrade of its debt.
European shares rose slightly in early trade after Asian shares closed mixed. The dollar, meanwhile, …. Source article on Gaea Times at  : Global stock markets mixed as European debt crisis continues to unsettle investors.

Britain’s potential leaders spar over economy in election’s final TV showdown

Last chance to woo UK voters in final TV debate

LONDON – Britain’s three main candidates in the neck-and-neck parliamentary election campaign will face off for the last time in a TV debate Thursday night, tackling the issue of how to repair the fragile economy.
For Prime Minister Gordon Brown, reeling from a major campaign gaffe Wednesday … Read this article on Gaea Times at : Britain’s potential leaders spar over economy in election’s final TV showdown.

No 4G spectrum auction for now: Raja

NEW DELHI – The government does not have any plans as of now to auction 4G spectrum, Communications Minister A. Raja said Thursday.

“The auction of 3G spectrum is going on successfully. The question of the need of 700 MHz (4G) spectrum (for the public) is being studied. It is not necessary as of now,” Raja … Read the original article on Gaea Times at : No 4G spectrum auction for now: Raja.

Sanofi-Aventis reports 8.6 percent rise in 1st quarter net profit on swine flu gains

Sanofi-Aventis 1st quarter profit up 8.6 percent

PARIS – Sanofi-Aventis reported Thursday an 8.6 percent increase in first quarter net profit thanks to its swine flu vaccine and strong sales of diabetes treatment Lantus.
France’s largest drug maker said net profit in the three-month period rose to ???1.71 billion ($2.26 billion) from ???1.58 billion a year earlier. … Original source on Gaea Times at : Sanofi-Aventis reports 8.6 percent rise in 1st quarter net profit on swine flu gains.

UK house prices increase 1 percent in April, now 10.5 pct higher than year ago, lender says

UK house prices rise 1 pct in April
LONDON – Average house prices in Britain rose 1 percent from March to April, pushing the average sale price 10.5 percent higher than a year earlier, a major mortgage lender said Thursday.

The Nationwide Building Society, Britain’s third-largest mortgage lender, said it was the first time since June 2007 …. Original article on Gaea Times at  : UK house prices increase 1 percent in April, now 10.5 pct higher than year ago, lender says.

Amid debt crisis, German Foreign Minister says EU should create its own credit rating agency

Germany says Europe needs its own rating agency

BERLIN – Germany’s Foreign Minister says the European Union should create its own rating agency because of the financial crisis.
Guido Westerwelle on Thursday told “WAZ” newspaper group the EU “should counter the work of rating agencies with efforts of its own.”
Westerwelle said rating agencies must not develop, sell, …. Read the original article  : here.

ArcelorMittal sees strong rebound in second quarter

NEW DELHI – The world’s largest steel maker, ArcelorMittal, Thursday said margins would improve substantially during the April-June quarter due to stronger demand in all main markets after a net loss of $1.1 billion in the quarter ended March.

“The economic recovery is continuing in line with our expectations and 2010 is set to be a … Original article on : ArcelorMittal sees strong rebound in second quarter.

Coca-Cola Hellenic’s 1st quarter net profits soar following cost-cutting drive

Coca-Cola Hellenic posts Q1 profit of $34 million

ATHENS, Greece – Greece’s Coca-Cola Hellenic Bottling Company SA, the second biggest bottler of Coke in the world, said Thursday its profits soared in the first quarter following cost-cutting and restructuring.
CCHBC said in a statement its net profit reached ???25.4 million ($33.64 million), compared to ???1.9 million in …. Source  : Gaea News Network.

Spain’s Banco Santander 1st quarter profit up 5.7 percent owing to revenue growth

Spain’s Santander Q1 profits up 5.7 percent

MADRID – Spain’s Banco Santander said Thursday its first-quarter net profit rose 5.7 percent as strong revenue growth offset higher loan losses and the effects of the recession.
Spain’s biggest bank and the eurozone’s largest by market capitalization said net profit rose to ???2.21 billion ($2.93 billion) in the first … Original source on Gaea Times at : Spain’s Banco Santander 1st quarter profit up 5.7 percent owing to revenue growth.

Forever 21 replaces Gucci at downtown store, as luxury-loving Japan goes more frugal

Japan going frugal with Forever 21 Ginza opening

TOKYO – Move over Gucci. Here comes Forever 21. Trend-conscious Japan is outgrowing its longtime love affair with luxury brands and turning to a new passion: Fast fashion.
The star brand of American mall-style clothing – reputed for delivering runway looks at cheap prices – opened Thursday in Matsuzakaya … Read the original article on Gaea Times at : Forever 21 replaces Gucci at downtown store, as luxury-loving Japan goes more frugal.

G8/G20 leaders urged to have new policies for economic recovery

OTTAWA – Meeting ahead of the G8 and G20 summits here in June, heads of business chambers from the G8 industrialised nations urged their leaders to institute new polices to sustain recovery from the global economic meltdown.

The leaders of the largest business associations in the G8 nations Wednesday released the ‘G8 Business Declaration’ as their … Read more »».

Phone link from Kashmir to Pakistan to resume

SRINAGAR – In a bid to facilitate trade, the Indian government has cleared a proposal to permit international calls from Jammu and Kashmir to Pakistan after a gap of 20 years, informed sources said Thursday. This facility will be confined to select trade centres.

The international subscriber dialling (ISD) facility to Pakistan from Jammu and …. Source article on Gaea Times at  : Phone link from Kashmir to Pakistan to resume.

India’s food inflation dips to 16.61 percent

NEW DELHI – India’s annual food inflation declined to 16.61 percent for the week ended April 17 from 17.65 percent a week ago due to a fall in prices of fruits, vegetables and some coarse cereals, official data showed Thursday.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed the …. Read the original article  : India’s food inflation dips to 16.61 percent.

Euro gains to $1.3209 early Thursday on Greece bailout hopes but contagion fears remain

Euro up on the dollar to $1.3209
BERLIN – The euro is up slightly against the dollar on hopes Germany will speed up approval of a bailout for Greece, but uncertainty remains over the country’s solvency and whether more nations will be sucked into the spiraling debt crisis.

The 16-nation currency bought $1.3209 early Thursday, up from …. Read the original article  : here.

Obama picks San Francisco Fed president Janet Yellen for No. 2 spot on Federal Reserve

Obama to name Yellen as Fed’s No. 2
WASHINGTON – Putting a bigger stamp on the Federal Reserve, President Barack Obama is set to name Janet Yellen as vice chairwoman of the central bank and fill two other vacancies on the board, which has enormous power over Americans’ pocketbooks.
The nominations are subject …. Source article on Gaea Times at  : Obama picks San Francisco Fed president Janet Yellen for No. 2 spot on Federal Reserve.

Senators prepare to debate the details of financial bill after Republicans take down blockade

In financial regs debate, senators look to details
WASHINGTON – Now it’s all about the details.
With Republicans ceding the way for debate, legislation to impose sweeping new controls on financial institutions faces a test from both parties. Some Democrats seek tougher restrictions on banks; some Republicans aim to ease consumer protection provisions.
Senate … Read more »»».

As government prepares to pay Medicare insurers for quality, most seniors in plans that lag

Seniors aren’t flocking to quality health plans
WASHINGTON – Millions of seniors signed up for popular Medicare Advantage insurance plans don’t get the best quality, an independent study found.
How the private plans score on a quality rating system set up by the government is about to have a direct impact on insurers’ finances – …. Original source  : As government prepares to pay Medicare insurers for quality, most seniors in plans that lag.

Germany’s Siemens says 2nd quarter net profit up 48 percent to $1.97 billion, ups outlook

Siemens Q2 profit up 48 percent to $1.97 billion

BERLIN – German industrial conglomerate Siemens AG on Thursday said its net profit in the second quarter rose 48 percent, as cost cuts offset a decline in revenue, and lifted its outlook for 2010.
The company, based in Munich, that makes everything from trams to turbines said net … Read more >>.

Germany’s BASF sees 1st quarter net profit rise to $1.4 billion, expects higher sales in 2010

BASF Q1 profit nearly triples to $1.4 billion

BERLIN – German chemical company BASF SE said Thursday that the economic recovery and a push by customers to restock their own inventories helped it nearly triple its first-quarter net profit.
The company, based in Ludwigshafen and whose interests include plastics, chemicals, oil and gas and agriculture, announced a … Read : Germany’s BASF sees 1st quarter net profit rise to $1.4 billion, expects higher sales in 2010.

Unilever Q1 net profit up 33 percent to $1.28 billion as margins improve

Unilever reports 33 percent rise in Q1 profit

AMSTERDAM – Unilever NV, the maker of Lipton tea, Dove soap and Ben & Jerry’s ice cream, reported a 33 percent rise in first quarter net profit on Thursday, as the company boosted sales by lowering prices and improved margins by cutting costs.
Unilever said net profit of euro973 … Original article on : Unilever Q1 net profit up 33 percent to $1.28 billion as margins improve.