HDFC, Emirates NBD sign online money transfer deal

Dubai, May 3 (IANS/WAM) The United Arab Emirates (UAE) based Emirates NBD has joined hands with HDFC Bank to help Indian clients remit money to India online — and fast.

Indian nationals residing overseas can avail this facility to remit funds directly into their accounts in HDFC Bank, the second largest private sector bank in India, …. Source article  : HDFC, Emirates NBD sign online money transfer deal.

Greek official says rescue plan includes ???10 billion for bank ’stabilization fund’

Greece: rescue plan includes ???10 billion for banks

ATHENS, Greece – Greece’s deputy finance minister says a massive rescue plan announced Sunday will include ???10 billion ($13.3 billion) in support for Greek banks that could be affected by the country’s expected three-year recession.
Philippos Sachinidis told state television Monday that the money would be reserved for a … Read this article on Gaea Times at : Greek official says rescue plan includes ???10 billion for bank ’stabilization fund’.

Greek official says rescue plan includes euro10 billion for bank ’stabilization fund’

Greece: rescue plan includes euro10 billion for banks

ATHENS, Greece – Greece’s deputy finance minister says a massive rescue plan announced Sunday will include euro10 billion ($13.3 billion) in support for Greek banks that could be affected by the country’s expected three-year recession.
Philippos Sachinidis told state television Monday that the money would be reserved for a …. Read the original article  : Greek official says rescue plan includes euro10 billion for bank ’stabilization fund’.

Majority of companies not filing statutory returns: Khurshid

NEW DELHI – Indian companies have been found wanting when it comes to filing their statutory statements, with 54 percent of them not furnishing their balance sheets and annual returns with the authorities, according to official statistics.

As many as 370,196 companies did not file their balance sheets with the Registrar of Companies (ROC) in 2008-09 … Read : Majority of companies not filing statutory returns: Khurshid.

German Cabinet takes up Greek bailout package

German Cabinet takes up bailout
BERLIN – German Chancellor Angela Merkel’s Cabinet is taking up legislation to provide Greece with billions of euros in aid as part of a European Union bailout plan.

Merkel says she is fast-tracking the legislation with the goal of having it passed by Germany’s parliament by Friday.
Germany, the euro zone’s largest economy, … Read the original article on Gaea Times at : German Cabinet takes up Greek bailout package.

Emerging Democratic voices: Bill to rein in banks is not tough enough

From the left, a push to get tougher on Wall St.
WASHINGTON – Liberal Senate Democrats who until now were on the sidelines are complaining that a pending financial overhaul bill backed by President Barack Obama does not go far enough to rein in Wall Street’s giants.
Some want the legislation changed to break up … Original article on : Emerging Democratic voices: Bill to rein in banks is not tough enough.

Feds investigate major meatpackers as Obama administration looks for tougher antitrust action

Feds doing 1st investigation of major meatpackers

LINCOLN, Neb. – The federal government is conducting its first investigation into whether the handful of large meatpackers that slaughter most of the nation’s cattle are illegally or unfairly driving down cattle prices, according to an official representing independent beef producers nationwide.
The investigation is under way as the Justice … Read more : Feds investigate major meatpackers as Obama administration looks for tougher antitrust action.

Michael McAteer: Quinn Up For Sale

DERRYLIN, NORTHERN IRELAND (GaeaTimes.com)- It has been announced by Michael McAteer, one of the liquidators for Quinn Insurance, one of the biggest insurance companies in Ireland, and in fact the entire United Kingdom, that about 900 workers would be losing their jobs in the next one to one and a half years. The company, …. Original source  : Michael McAteer: Quinn Up For Sale.

China’s new housing rules may lead to divorce surge

BEIJING – Buyers of new house in China may resort to divorce or postponing marriage in order to save money as per the new housing rules, a report in the Economic Information Daily found.

The central government has announced a new housing regulations April 15, under which the down payment requirement for a family purchasing a …. Source  : China’s new housing rules may lead to divorce surge.

Mexicans hold their noses and shop in Arizona despite anger over immigration law

Arizona law sparks anger, resignation in Mexico

NOGALES, Mexico – The line of Mexicans waiting to go shopping in Arizona snakes twice around the sun-drenched plaza, even as politicians nearby slap stickers on cars calling for a boycott of the U.S. state.
And the illegal migrants targeted by a tough new Arizona law dismiss it as just [..] Read the original article: here.

Assistant to be sentenced Monday in slaying of NYC punk-rock pioneer

Sentencing Monday in death of NYC punk-rock figure

NEW YORK – A personal assistant was poised to learn her punishment after being convicted of murdering her boss, a punk-rock manager turned high-powered real estate broker, in a vicious beating at the victim’s New York City Fifth Avenue penthouse.
Twenty-eight-year-old Natavia (nuh-TAY’-vee-uh) Lowery could be sentenced to the … Read more : Assistant to be sentenced Monday in slaying of NYC punk-rock pioneer.

Sensex down 0.71 percent in morning trade

MUMBAI – A benchmark index for Indian equities Monday was ruling 0.71 percent lower than its previous close, a couple of hours into trade after having started off on a weak note.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,536.86 points, was ruling at 17,434.54 points, 124.17 points …. Read the original article  : Sensex down 0.71 percent in morning trade.

More than 45 percent Colombians live in poverty

Bogota, May 3 (IANS/EFE) More than 20 million Colombians – 45.5 percent of the population of the Latin American nation – are living below the poverty line, an official report has said.

Poverty in Colombia last year affected 19.9 million people. Of them, more than 7.1 million were destitute, the study released by the country’s statistics …. Original article  : More than 45 percent Colombians live in poverty.

Ahmadinejad, Clinton take Iran, US nuclear cases to UN stage as treaty conference opens

Iran, US take their nuclear cases to UN stage
UNITED NATIONS – Iranian President Mahmoud Ahmadinejad brings his nuclear case to New York on Monday, turning a U.N. treaty conference into a stage for Tehran’s long-running showdown with the Western powers over its uranium enrichment program.
The only head of state participating, Ahmadinejad …. Original source  : Ahmadinejad, Clinton take Iran, US nuclear cases to UN stage as treaty conference opens.

Joint bank accounts losing their shine

LONDON – Joint bank accounts, which newly weds used to open almost immediately after getting married, are losing their appeal as “most people like to have their ‘own’ money to spend without having to ??justify it to another person”, a new study in Britain has revealed.

The survey by Tesco Bank found that modern couples do … Read : Joint bank accounts losing their shine.

Reports: North Korean leader believed to be making rare trip to China in his private train

Reports: NKorean leader travels to China
SEOUL, South Korea – North Korean leader Kim Jong Il was believed to be making a rare trip to China on Monday amid tensions over the recent sinking of a South Korean warship and stalled nuclear disarmament negotiations, South Korean news reports said.
Kim’s personal train arrived early … Read the original article on Gaea Times at : Reports: North Korean leader believed to be making rare trip to China in his private train.

Asian stocks drop after China raises bank reserve ratio to curb inflation, housing values

Asian stocks drop as China raises bank reserves

SINGAPORE – Asian stocks fell Monday after China ordered banks to raise their reserves, the latest in a series of moves aimed at curbing inflation and surging property prices.
Hong Kong’s Hang Seng index led decliners, falling 256.24 points, or 1.2 percent, to 20,855.21 while South Korea’s benchmark dropped …. Read the original article  : Asian stocks drop after China raises bank reserve ratio to curb inflation, housing values.

India can be agricultural superpower: farm cooperative chief

NEW DELHI – India can become an agricultural superpower and the proposed food security bill is coming at the right time as it has the potential to prevent a backlash from people, says the chief of one of India’s largest farming cooperatives.

“Unless the government can provide food security to its people, there will be a …. Original article on Gaea Times at  : India can be agricultural superpower: farm cooperative chief.

Shares of big miners tumble as Australia proposes 40 percent tax on booming mining profits

Mining shares tumble on Australian tax plan

CANBERRA, Australia – Shares of mining giants BHP Billiton and Rio Tinto tumbled Monday after the Australian government proposed a new 40 percent tax on the booming profits of resource companies.
The big miners’ losses dragged the Australian market down half a percent by close of trading after Prime Minister … Read more : Shares of big miners tumble as Australia proposes 40 percent tax on booming mining profits.

China’s central bank raises reserve requirements for banks in a move to dampen inflation

China’s central bank hikes banks’ reserve minimum

BEIJING – China has ordered banks to raise the amount of money they hold in reserves for a third time this year in a new effort to dampen inflation pressures in the world’s third-largest economy.
The measure, announced Monday, comes as the government tries to cool a credit boom without …. Read the original article  : China’s central bank raises reserve requirements for banks in a move to dampen inflation.

RNRL-RIL Awaits Supreme Court Verdict

DELHI, INDIA (GaeaTimes.com)-RIL (Reliance Industries Limited) versus RNRL (Reliance Natural Resources Limited) tussle might come to an end this week as the Supreme Court goes ahead to declare its decision for the case. Reportedly, the verdict of the RIL and RNRL case is the centre point of all major discussions in the market.
As a …. Original article on Gaea Times at  : RNRL-RIL Awaits Supreme Court Verdict.

Mumbai paralysed as motormen boycott trains

MUMBAI – Millions of commuters here were hit hard Tuesday as drivers of suburban trains, the city’s lifeline, struck work demanding better working conditions, crippling Mumbai and creating chaos in the national parliament.

With just a few trains running and thousands of commuters crammed into the coaches like sardines, life was thrown out of gear … Read : Mumbai paralysed as motormen boycott trains.

Ireland to reopen airports Tuesday afternoon as threat of volcanic ash from Iceland fades

Irish airports reopen Tuesday as ash threat fades

DUBLIN – Ireland’s airspace will reopen at 1 p.m. (1200 GMT) Tuesday because the threat from volcanic ash has faded overnight, but Irish air travelers face a “summer of uncertainty” because of the long-running Iceland eruption, the Irish Aviation Authority said.
The authority temporarily grounded services at all Irish … Read more : Ireland to reopen airports Tuesday afternoon as threat of volcanic ash from Iceland fades.

ESMA invoked against striking Mumbai train drivers

MUMBAI – The Maharashtra government Tuesday invoked the Essential Services Maintenance Act (ESMA) against striking Mumbai train drivers and gave them time till 3 p.m. to return to work.

Around 25 train drivers returned to work after the ESMA was invoked, a railway official said.
And in no time, around 170 striking drivers were arrested from …. Source article  : ESMA invoked against striking Mumbai train drivers.

BJP, Shiv Sena demand resumption of Mumbai rail services

NEW DELHI – Bharatiya Janata Party (BJP) and Shiv Sena members Tuesday demonstrated in Parliament House Tuesday demanding that the government take speedy steps to resume train services in Mumbai.

Dubbing the government a failure for being unable to control the train drivers strike in Mumbai, members of the two parties staged a sit-in at …. Source  : BJP, Shiv Sena demand resumption of Mumbai rail services.

Lok Sabha adjourned over train drivers’ stir

NEW DELHI – The Lok Sabha was adjourned till 2 p.m. Tuesday over the Mumbai suburban train drivers’ strike with members from both the opposition and ruling parties demanding a statement from the government.

Deputy Leader of the opposition Gopinath Munde said the motormen had given a strike notice Jan 26.
“They also went on …. Original article  : Lok Sabha adjourned over train drivers’ stir.

Tamil Nadu Newsprint to set up plant to cut production cost

CHENNAI – Tamil Nadu Newsprint and Papers Ltd (TNPL) will set up a precipitated calcium carbonate (PCC) plant at its production unit near Karur with international collaboration that will help the paper-maker cut costs.

“The plant will be set up on build-own-operate (BOO) basis. This will result in TNPL reducing its recurring cost of Rs.25 crore,” …. Source article  : Tamil Nadu Newsprint to set up plant to cut production cost.

HEALTHBEAT: Radical treatment for asthma melts off tissue to alter spasm-prone airways

Those with severe asthma offered radical treatment

WASHINGTON – People with severe asthma are getting a radically different treatment option: A way to snake a wire inside their lungs and melt off some of the tissue that squeezes their airways shut.
Bronchial thermoplasty isn’t for everyone, just a subset who wheeze despite today’s best medications. It’s neither …. Source article on Gaea Times at  : HEALTHBEAT: Radical treatment for asthma melts off tissue to alter spasm-prone airways.

Asian stocks mostly lower on investor concern Chinese property measures will hurt GDP growth

Asia stocks lower on China fears; Thailand surges

SINGAPORE – Asian stocks were mostly lower Tuesday on investor concerns that Chinese moves to slow a soaring property market will undermine economic growth while Thai stocks vaulted on hopes of a resolution to the country’s political crisis. European shares opened mixed.
Trading was generally lackluster in Asia with … Read this article on Gaea Times at : Asian stocks mostly lower on investor concern Chinese property measures will hurt GDP growth.

Greek protesters spread banners on Acropolis amid strikes against austerity

Greek protesters drape banners on Acropolis

ATHENS, Greece – Greek protesters unfurled banners Tuesday over the defensive walls of the ancient Acropolis, the country’s most famous monument, to protest harsh new austerity measures as strikes began across the country.
Greece’s cash-strapped government announced sweeping spending cuts worth ???30 billion ($40 billion) through 2012 on Sunday, in order …. Original article  : Greek protesters spread banners on Acropolis amid strikes against austerity.

Apple sells million iPads

WASHINGTON – The Apple iPad has hit another major milestone with the sale of the one millionth iPad after a little less than a month of retail availability.

The milestone was reached Friday the same day the company released its 3G version of the much-hyped device, as sales of the tablet continued to build, Apple said … Read more >>.

Greek protesters drape banners at Acropolis, amid strikes against austerity

Greek protesters drape banners at Acropolis

ATHENS, Greece – Greek protesters unfurled banners over the defensive walls of the ancient Acropolis, the country’s most famous monument, to protest harsh new austerity measures as strikes began Tuesday across the country.
About 100 protesters from the Greek Communist Party unfurled the banners in Greek and English reading: “Peoples of …. Source  : Gaea News Network.

Oil drops from 18-month high to below $86 as investors eye growing US crude inventories

Oil below $86 as traders eye US crude supplies

SINGAPORE – Oil prices dropped below $86 a barrel Tuesday in Asia as traders anticipated another increase in U.S. crude supplies from a government report due later this week.
Benchmark crude for June delivery was down 38 cents to $85.81 a barrel at late afternoon Singapore time in …. Original article on Gaea Times at  : Oil drops from 18-month high to below $86 as investors eye growing US crude inventories.

Portuguese travellers drive to China for Shanghai expo

BEIJING – A group of Portuguese travellers has embarked on a car journey to the 2010 Shanghai World Expo in an effort to promote eco-friendly technology.

The four travellers started Saturday from Portugal’s Leiria city on a 16,000-km-long journey across 13 countries. The theme of their journey is “So far but so close”, Global Times reported … Read more : Portuguese travellers drive to China for Shanghai expo.

Asian stocks mixed on investor concern Chinese property measures will hurt GDP growth

Asia stocks mixed on China fears; Thailand surges

SINGAPORE – Asian stocks were mixed Tuesday on investor concerns that Chinese moves to slow a soaring property market will undermine economic growth while Thai stocks vaulted on hopes of a resolution to the country’s political crisis.
China’s benchmark index in Shanghai led decliners, falling 24.37 points, or 0.9 … Original source on Gaea Times at : Asian stocks mixed on investor concern Chinese property measures will hurt GDP growth.

Motormen’s agitation paralyses Mumbai

MUMBAI – Over seven million commuters, including office-goers and students, were severely hit Tuesday, the second day of the ongoing agitation by motormen manning Mumbai’s crucial suburban trains.

The agitation by over 600 motormen on the Western Railway (WR) and Central Railway (CR), compelled the railways to issue a rare advisory Tuesday morning.
“People may undertake [..] Read the original article: here.

Money Market Operations as on May 03, 2010

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

Google acquires 3D software pioneer to take on Apple

TORONTO – Google Monday snapped up a top Canadian startup which pioneered a 3D interface technology for Mac and Windows PCs.

Called Canada’s hottest software startup, Toronto-based BumpTop has been acquired by the search engine for reportedly between $30 and $45 million, according to reports. However, there were no details of the deal by the two …. Read the original article  : Google acquires 3D software pioneer to take on Apple.

Indian American offers US firms support for n-plants

NEW YORK – A leading Indian-American business firm, which has for years provided technical support services to several US government agencies and fortune 500 companies, is offering to help US firms set up nuclear power plants in India.

“We would certainly like to consider that possibility. The capacity and capability are there with ASR,” Rao S. …. Source article  : Indian American offers US firms support for n-plants.

Thai protesters considering PM’s offer for Nov. 14 elections in exchange for ending occupation

Thai protesters considering PM’s election plan

BANGKOK – Thailand’s anti-government protesters sought assurances Tuesday that the entire government backed the prime minister’s latest proposal for early elections in exchange for ending their crippling, weekslong occupation of downtown Bangkok.
Leaders of the Red Shirt protesters, ranging from hardline militants to others seemingly more willing to compromise, indicated they …. Original article on Gaea Times at  : Thai protesters considering PM’s offer for Nov. 14 elections in exchange for ending occupation.

Himachal hopes for extension of tax holiday scheme

SHIMLA – Commerce and Industries Minister Anand Sharma’s visit to Himachal Pradesh Friday has once again generated hope that the tax holiday scheme which had attracted industries to the state in the past seven years will be restored.

The scheme expired March 31. The National Democratic Alliance government had granted a special industrial development package to … Read the original article on Gaea Times at : Himachal hopes for extension of tax holiday scheme.

China to provide region where ethnic riots killed nearly 200 with $1.5 billion economic boost

China’s Xinjiang to get $1.5 billion boost

BEIJING – China plans to inject nearly $1.5 billion into a western region that is the site of simmering unrest, boosting its economy in hopes of reducing ethnic tension after riots last year killed nearly 200 people.
Various regions across Xinjiang, including 82 cities and towns, will received investment from … Read this article on Gaea Times at : China to provide region where ethnic riots killed nearly 200 with $1.5 billion economic boost.

Scheduled Banks’ Statement of Position in India as on Friday, April 23, 2010

(Amount in Rupees crore)

 

 

Scheduled Commercial Banks (SCBs)
(including RRBs)

All Scheduled Banks

 

 

24.04.2009

09.04.2010

 

23.04.2010

 

24.04.2009

09.04.2010

 

23.04.2010

 

 I

Liabilities to the Banking System (A)

 
 

*

 

*

 
 

*

 

*

 

a) Demand & time deposits from banks

50947.81

65345.27

 

62772.18

 

55377.45

67793.07

 

65303.37

**

 

b) Borrowings from banks

26946.87

22334.32

 

20374.37

 

26958.24

22352.33

 

20389.82

 

 

c) Other demand & … Read this article on Gaea Times at : Scheduled Banks’ Statement of Position in India as on Friday, April 23, 2010.

Central Bank Of India Reports Record Growth

MUMBAI, INDIA (GaeaTimes.com)- It seems that the Central bank of India is going through good times. Owing to lower cost of funds and growth in loans the bank has been able to report a 173% growth in its net profit. The net profit of the bank has grown by a margin of Rs 171 …. Read the original article  : Central Bank Of India Reports Record Growth.

World stocks sink on investor concern Greece debt bailout will fail, crisis may spread

World stocks sink on Europe debt concerns
SINGAPORE – World stocks slid Wednesday, following a plunge in U.S. equities as concerns spread that the bailout for debt-laden Greece won’t stop the crisis spreading to other European countries.

Some Asian markets pared their losses in afternoon trade while the euro, battered recently, fell further against the dollar. Oil … Read the original article on Gaea Times at : World stocks sink on investor concern Greece debt bailout will fail, crisis may spread.

Regulatory debate lumbering through; delays and disputes lie ahead

Financial regulations still face delays, disputes

WASHINGTON – A tentative agreement in hand, Democrats and Republicans still face an array of hurdles and uncertain timing over a Senate bill that would rein in financial institutions.
While Democrats agreed to jettison a $50 billion fund to liquidate large, failing firms, disputes over consumer protections, Federal Reserve oversight and … Read the original article on Gaea Times at : Regulatory debate lumbering through; delays and disputes lie ahead.

PROMISES, PROMISES: Rich farmers still get most government cash, despite promises of cuts

PROMISES, PROMISES: Rich farmers get most cash

WASHINGTON – Lawmakers crafting a sweeping farm bill in 2008 promised it would cut government payments to wealthy farmers. Two years later, little appears to have changed.
Data being made public Wednesday shows that the wealthiest farmers in the country are still receiving the bulk of government cash, despite claims …. Original article on Gaea Times at  : PROMISES, PROMISES: Rich farmers still get most government cash, despite promises of cuts.

Raw milk advocates hope passage of Wis. bill will encourage other states to legalize sales too

Wis. legalization of raw milk seen as benchmark

MADISON, Wis. – Proponents of unpasteurized milk hope a victory in “America’s Dairyland” will encourage other states to legalize sales and make it more available nationwide.
Wisconsin Gov. Jim Doyle has indicated he will sign a bill the Legislature passed late last month allowing farms to sell raw milk … Original article on : Raw milk advocates hope passage of Wis. bill will encourage other states to legalize sales too.

Asian stocks sink on investor concern Greece debt bailout will fail, crisis may spread

Asian stocks sink on Europe debt concerns
SINGAPORE – Asian stocks slid Wednesday, following a plunge in U.S. equities as concerns spread that the bailout for debt-laden Greece won’t stop the crisis spreading to other European countries.

Some Asian markets pared their losses in afternoon trade while the euro, battered in recent weeks, gained against the dollar. …. Source article  : Asian stocks sink on investor concern Greece debt bailout will fail, crisis may spread.

Brewer Anheuser-Busch InBev sees flat year for beer in 2010 after posting Q1 profit

AB InBev sees flat year for beer in 2010
PARIS – The world’s largest brewer and maker of Budweiser said Wednesday its first quarter profit fell 34 percent to $475 million as global beer sales remained stagnant and were not forecast to rebound in 2010.

Anheuser-Busch InBev SA made a $716 million profit a year earlier. It [..] Read the original article: here.

New wave of dense volcanic ash from Iceland disrupts flights in Scotland, Northern Ireland

Volcanic ash snarls Scottish, Irish air services

LONDON – A new wave of dense volcanic ash from Iceland disrupted air traffic Wednesday in Scotland and Ireland and threatened to spill into the air space of England.
Britain’s Civil Aviation Authority grounded flights at most airports in Scotland and Northern Ireland from 7 a.m. (0600GMT; 2 a.m. EDT) …. Original source  : New wave of dense volcanic ash from Iceland disrupts flights in Scotland, Northern Ireland.

Mumbai trains back on track

MUMBAI – Mumbai’s suburban train services, the city’s lifeline, resumed normal operations Wednesday after two days of disruption caused by drivers’ strike crippled India’s financial capital.

“Trains are running as per schedule since early Wednesday,” said a railway official.
Mumbai’s electric trains carry nearly seven million people every day. Their drivers, or motormen as they are … Read more >>>.

Oil falls to near $82 in Asia as US crude inventories rise more than expected

Oil falls to near $82 as US crude supplies rise

SINGAPORE – Oil prices fell to near $82 a barrel Wednesday in Asia after a report showed U.S. crude supplies rose more than expected last week.
Benchmark crude for June delivery was down 52 cents to $82.22 a barrel at late afternoon Singapore time in electronic trading …. Original source  : Oil falls to near $82 in Asia as US crude inventories rise more than expected.

Al Jazeera begins operations in Canada

TORONTO – Al Jazeera began its broadcasts into Canada Tuesday.
The Canadian Radio-television and Telecommunications Commission (CRTC) had given the green signal to Al Jazeera English (AJE) last November to beam into Canada despite protests over its allegedly being the mouthpiece of Arab groups.

Canadian journalist Tony Burman, who is the managing director of the channel, … Read the original article on Gaea Times at : Al Jazeera begins operations in Canada.

IIT alumnus Nohria named next dean of Harvard

BOSTON – Professor Nitin Nohria, an alumnus of the Indian Institute of Technology in Mumbai, has been named the first Indian-American dean of the prestigious Harvard Business School, a role he will take up from July 1.

Currently the Richard P. Chapman Professor of Business Administration at the century-old institution and co-chair of its Leadership Initiative, …. Read the original article  : IIT alumnus Nohria named next dean of Harvard.

Nuclear talks, trade and aid seen as underpinning NKorea leader’s China visit

Nukes, trade underpin NKorea leader’s China visit
BEIJING – North Korean leader Kim Jong Il was believed to have arrived in Beijing on Wednesday on a secrecy-shrouded visit that experts say aims to secure economic support in exchange for a commitment to return to denuclearization talks.
For a third day, Chinese officials refused …. Source article on Gaea Times at  : Nuclear talks, trade and aid seen as underpinning NKorea leader’s China visit.

Sensex down 1.13 percent amid negative Asian cues

MUMBAI – A benchmark index for Indian equities Wednesday was ruling 1.13 percent lower than its previous close, a couple of hours into trade amid weak Asian cues.

Global bourses are supposed to tread with caution in the coming days, after reports that the economies of more European countries could find it difficult to repay … Read the original article on Gaea Times at : Sensex down 1.13 percent amid negative Asian cues.

1.5 mn Facebook profiles put up for sale

LONDON – A hacker has reportedly put 1.5 million stolen Facebook accounts up for sale on the black market, according to a media report Wednesday.

Researchers at Internet security firm VeriSign iDefense Labs said a hacker called ‘kirllos’ had put the login details on sale on Russian website Carder.su, thesun.co.uk reported.
Facebook has denied the … Original source on Gaea Times at : 1.5 mn Facebook profiles put up for sale.

Hot April may see strawberry yield dip in Himachal

SHIMLA – An unusually hot April has hit strawberry cultivation in the lower hills of Himachal Pradesh and growers are worried that the fruit yield this year may plummet 50-60 percent from last year.

The state horticulture department estimates that the total yield would be around 200 tonnes as against 447 tonnes last fiscal. The output … Read more : Hot April may see strawberry yield dip in Himachal.

After years of inaction, idea of nuke-free Mideast rises on global agenda at treaty meeting

Nuke-free Mideast idea rises on global agenda

UNITED NATIONS – The Middle East, that timeless tinderbox at the core of so much in world affairs, looms as a battleground in the U.N.’s meeting halls this month, as 189 nations debate nuclear proliferation.
The idea of establishing the region as a zone free of nuclear weapons, a notion …. Read the original article  : After years of inaction, idea of nuke-free Mideast rises on global agenda at treaty meeting.

British institute beckons Indian engineers to excel

BANGALORE – The London-based Institution of Engineering and Technology (IET), which certifies professional excellence worldwide, will offer its expertise to Indian engineers for global recognition.

“We are entering into an agreement with the Institution of Engineers (India) to exchange information and ideas for the advancement of science, engineering, technology and mathematics (STEM) in the Indian … Read more : British institute beckons Indian engineers to excel.

Iraq invites international energy companies to bid for 3 natural gas fields, sets date

Iraq puts 3 natural gas fields up for bid
BAGHDAD – Iraq’s oil minister on Thursday invited international energy companies to bid for contracts to develop three untapped natural gas fields.

Hussain al-Shahristani expressed confidence in international interest in the fields, saying that 45 companies with experience in gas projects will submit their offers in the country’s … Read more »»».

JSL signs deal for 1,320 MW power plant in Orissa

BHUBANESWAR – The country’s largest stainless steel maker, JSL, Thursday signed an agreement with the Orissa government to set up a super critical 1,320 MW thermal power plant in the state at an investment of Rs.7,375 crore.

The deal was signed at the state secretariat by Rajdeep Mohanty, chief resident manager of JSL (Orissa project), and … Read more : JSL signs deal for 1,320 MW power plant in Orissa.

PSU general insurance employees upbeat about wage hike

CHENNAI – Employees unions of four government-owned non-life insurance agencies are upbeat about getting a good wage settlement in the wake of a 14 percent premium growth the insurers have logged during fiscal 2009-10.

The next round of wage talks is scheduled to be held May 8 in Mumbai in which the chairman and managing directors …. Original article on Gaea Times at  : PSU general insurance employees upbeat about wage hike.

Gulf of Mexico oil spill interrupting freight movement in Europe, Baltic region

KINGSTON – The oil spill in the Gulf of Mexico and epic flooding in Tennessee has created a “perfect storm” for businesses that rely on an efficient supply chain, according to a University of Rhode Island professor.

In addition, the volcano in Iceland is causing …. Original source  : Gulf of Mexico oil spill interrupting freight movement in Europe, Baltic region.

India needs bill on dam safety – and fast: parliamentary panel

NEW DELHI – With India having over 4,700 dams – the third largest number in the world – of which about 100 are more than a century old, a parliamentary panel has suggested the expeditious legislation concerning dam safety.

The Standing Committee on Water Resources, in its report submitted to parliament, said the government …. Source  : India needs bill on dam safety – and fast: parliamentary panel.

India to launch cartography satellite in June

CHENNAI – The Indian space agency is expected to launch June 5 its Polar Satellite Launch Vehicle (PSLV-C15), carrying a cartography satellite and a couple of other payloads, according to the US-based space consultancy firm Futron Corp.

But a source in the Indian Space Research Organisation (ISRO) told IANS that the launch is most likely to … Read this article on Gaea Times at : India to launch cartography satellite in June.

World stock markets tumble as fears persist European debt woes will spread, undermine recovery

World stock markets tumble on Europe debt woes

SINGAPORE – World stocks plunged Thursday as fears Greece’s debt crisis will spread to other European countries and undermine the global recovery continued to rattle markets.
Investors are questioning whether a $142 billion aid package for Greece will be adequate to keep debt problems from engulfing other European nations …. Original article on Gaea Times at  : World stock markets tumble as fears persist European debt woes will spread, undermine recovery.

RBI announces rate of interest on FRBs 2016

The rate of interest on the Floating Rate Bonds, 2016 (FRB, 2016) applicable for the year (May 7, 2010 to May 6, 2011) shall be 5.05 per cent per annum.
It may be recalled that the rate of interest on the FRB, 2016 was set at a mark-up (as decided in … Read more : RBI announces rate of interest on FRBs 2016.

India’s food inflation dips to 13.93 percent

NEW DELHI – India’s annual food inflation declined to 13.93 percent for the week ended April 24 from 16.61 percent a week ago due to a fall in prices of wheat and vegetables, official data showed Thursday.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed the index for food …. Source article on Gaea Times at  : India’s food inflation dips to 13.93 percent.

Retirement of US Rep. David Obey gives former ‘Real World’ star edge in race for Wis. seat

Obey retirement gives GOP hopeful opening in Wis.
MADISON, Wis. – Democratic U.S. Rep. David Obey’s unexpected retirement has thrust a conservative former cast member of MTV’s “The Real World” into position to capture a Wisconsin seat held by a leading liberal for four decades.
It also left several Democrats pondering the legacy of Obey, … Read the original article on Gaea Times at : Retirement of US Rep. David Obey gives former ‘Real World’ star edge in race for Wis. seat.

Gordon Brown: A skilled politician plagued by bad timing struggles to avoid defeat

Gordon Brown: From leader-in-waiting to has-been?

LONDON – Gordon Brown’s career is a reminder of the adage about being careful what you wish for.
He served for a decade as Britain’s Treasury chief, but longed to be prime minister. When he finally got the job, he faced economic crisis, a divided party, public disgust with politicians – [..] Read the original article: here.

Senate’s Wall Street agenda turns to consumer rules, audit of the Federal Reserve

Consumer rules, Fed audit next on Senate agenda
WASHINGTON – A partisan fight over consumer protections and a dispute over how intrusive Congress can be in overseeing the Federal Reserve loom as obstacles to the Senate’s efforts to rein in Wall Street.
Republicans offered a weaker alternative to consumer protection measures that are central … Original source on Gaea Times at : Senate’s Wall Street agenda turns to consumer rules, audit of the Federal Reserve.

Automakers to support bill in Congress to require black boxes, brake override systems

Industry supports black box, brake override system

WASHINGTON – A trade group representing Detroit automakers and Toyota Motor Corp. plans to pledge support for requiring brake override systems and vehicle “black boxes” on all new vehicles as Congress develops new safety improvements following Toyota’s large recalls.
Toyota’s recall of more than 8 million vehicles around the globe … Read the original article on Gaea Times at : Automakers to support bill in Congress to require black boxes, brake override systems.

European Central Bank meets amid bleak backdrop as Greek debt spirals

Athens deaths a bleak backdrop as ECB meets

LONDON – Fears that the Greek debt crisis is spiraling out of control could push the European Central Bank to take an even bigger role in stabilizing the situation – and rescuing the euro from the worst crisis since it was created 11 years ago.
The death of three …. Source article  : European Central Bank meets amid bleak backdrop as Greek debt spirals.

Fans invited to Comerica Park to pay final respects to beloved Tigers broadcaster Harwell

Fans fondly remember Detroit broadcaster Harwell

DETROIT – Ernie Harwell’s mellow Georgia drawl carried Detroit Tigers baseball over the airwaves for decades, conjuring for generations of fans a trip to the ballpark.
That voice now silenced, fans began coming to Comerica Park to pay their final respects to the man whose love of the game enriched the … Read more >>>.

Bank Of Rajasthan Eyed By ICICI Bank?

NEW DELHI, INDIA (GaeaTimes.com)- ICICI Bank, which is the biggest private sector bank in India in terms of market capitalization, is reportedly trying to acquire small private bank, Bank of Rajasthan. The Tayals who are the present owners of the small private sector bank are also in talks with other buyers, as the industry …. Original article  : Bank Of Rajasthan Eyed By ICICI Bank?.

Greek bank workers strike over deaths during protests; deputies to vote on new austerity plan

Greek bank workers strike over deaths
ATHENS, Greece – Greek bank workers walked off the job in a 24-hour strike Thursday to protest the deaths of three colleagues trapped in a bank torched by protesters during massive demonstrations against the government’s new harsh austerity measures.

Wednesday’s deaths – the first such fatalities in protests in nearly 20 … Read more »».

Another weak opening for Sensex

MUMBAI – A benchmark index for Indian equities Wednesday was ruling 0.78 percent lower than its previous close, a couple of hours into trade, after having made another weak start.

Global bourses have been in a tizzy with signs emerging that more European economies could be engulfed by the debt crisis triggered in Greece …. Source  : Gaea News Network.

With protests over wages, anger over meat prices, Egyptians’ economic woes turn political

From meat to wages, economic woes fuel Egypt anger

CAIRO – For the past six weeks, Khulud Mustafa has walked past the butcher near her apartment in Cairo’s run-down Ain Shams district, casting wistful looks at the meat hanging outside his shop as the price has steadily risen.
From the equivalent of $8 per kilogram (2.2 pounds), …. Source article on Gaea Times at  : With protests over wages, anger over meat prices, Egyptians’ economic woes turn political.

Flash memory demand drives Japan’s Toshiba back to black in fiscal 4Q

Toshiba books $531 million profit in January-March

TOKYO – Toshiba Corp. returned to profit in the January-March quarter, driven by growing global demand for the flash memory chips used in devices from cameras to music players.
The Japanese conglomerate – whose vast business spans household appliances to nuclear power systems – said Friday it booked a fourth … Read this article on Gaea Times at : Flash memory demand drives Japan’s Toshiba back to black in fiscal 4Q.

On not-so-secret trip to China, NKorea’s Kim says willing to rejoin nuke talks but no date set

NKorea’s Kim reaffirms nuke talks on trip to China
BEIJING – North Korea’s reclusive leader reaffirmed Friday that he was willing to rejoin long-delayed nuclear disarmament talks while on a not-so-secret trip to China, but gave no firm date for restarting the process that Pyongyang abandoned more than a year ago.
Kim Jong Il’s private, …. Source article  : On not-so-secret trip to China, NKorea’s Kim says willing to rejoin nuke talks but no date set.

World markets slide following Dow collapse; pound slildes after uncertain UK election result

World stocks slide on Dow collapse, debt crisis

LONDON – World markets fell sharply Friday following a huge sell-off on Wall Street and amid fears that Europe’s debt crisis could spread and derail the global economic recovery.
In Britain, where investors were grappling with uncertain general election results, the FTSE 100 index was down 52.86 points, or … Read the original article on Gaea Times at : World markets slide following Dow collapse; pound slildes after uncertain UK election result.

Planning Commission chief Ahluwalia to address inaugural Bahrain Global Forum

Mumbai, May 7 (ANI-Business Wire India):The Deputy Chairman of the Indian Planning Commission, Dr. Montek Singh Ahluwalia, will be the keynote speaker at the IISS Bahrain Global Forum.

A new annual event, the IISS Bahrain Global Forum will bring together government ministers and officials, business leaders and economists … Read : Planning Commission chief Ahluwalia to address inaugural Bahrain Global Forum.

TRAI invites comments on green telecom

NEW DELHI – The telecom regulator has invited stakeholders’ views on “green telecom” by June 14 to prepare a consultation paper on the subject as the government is committed to the use of eco-friendly equipment in the information and communications technology (ICT) sector.

“Telecom Regulatory Authority of India (TRAI) is contemplating to come up with a … Read more »»».

German parliament to vote on rescue loan package for debt-ridden Greece

German parliament seen approving Greek bailout

BERLIN – Germany’s finance minister told lawmakers Friday that there is no alternative to approving a rescue package for debt-laden Greece, and parliament was expected to give it the go-ahead.
Germany is to grant as much as ???22.4 billion ($28.6 billion) in credit over three years as part of a wider …. Original source  : German parliament to vote on rescue loan package for debt-ridden Greece.

Krishna to visit Kazakhstan Tuesday

NEW DELHI – External Affairs Minister S.M. Krishna will go on a three-day visit to oil-rich Kazakhstan Tuesday to scale up cooperation in diverse sectors including energy and infrastructure with India.

Krishna will hold talks with his Kazakh counterpart Kanat Saudabayev on a range of economic, energy and security ties.
The two ministers hope to [..] Read the original article: here.

Power, water starved Bangalore looks to skies (Letter from Bangalore)

BANGALORE – Monsoon is still nearly five weeks away for Karnataka, and one prayer on the lips of its residents is that rains should be bountiful. People, including those in Bangalore, touted as India’s technology capital, have been sweating it out without power and water.

Till the time the monsoon descends, some Bangalore residents are being …. Source  : Gaea News Network.

European stocks fall sharply at open as world markets buckle under Greek debt crisis

European stocks fall sharply at open
LONDON – The wave of selling in world markets is continuing in Europe amid a huge sell-off on Wall Street, fears that Greece’s debt crisis is spreading and an uncertain general election result in Britain.
Minutes after the open, the FTSE 100 index of leading British shares was 1.3 … Read the original article on Gaea Times at : European stocks fall sharply at open as world markets buckle under Greek debt crisis.

Sensex recovers after court verdict, falls again

MUMBAI – A benchmark index for Indian equities, which recovered after the Supreme Court ruled that the government had sole rights on pricing and utilisation of national resources, slipped back into the red and was ruling 229 points lower during noon trade Friday.

The apex court in its verdict said the memorandum of understanding between brothers …. Source article  : Sensex recovers after court verdict, falls again.

Pansonic reduces losses on global sales recovery, banks on 3-D for new growth

Panasonic reduces losses on sales recovery

TOKYO – Panasonic slashed its losses for the January-March quarter to just under $1 billion as the world’s biggest maker of plasma TVs benefited from a recovery in global sales.
Panasonic Corp. said Friday its loss for the fiscal fourth quarter was 88.9 billion yen ($971 million) compared with a 444.3 …. Read the original article  : here.

Reserve Bank Cancels the Licence of Parmatma Ek Sewak Nagrik Sahakari Bank Ltd., Nagpur, Maharashtra

In view of the fact that Parmatma Ek Sewak Nagrik 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 were being inconvenienced by continued uncertainty, the Reserve Bank of India … Original article on : Reserve Bank Cancels the Licence of Parmatma Ek Sewak Nagrik Sahakari Bank Ltd., Nagpur, Maharashtra.

\’Ethical hacking is a booming industry\’

CHANDIGARH – Cyber security expert Ankit Fadia, who prefers to call himself an \\\”ethical hacker\\\”, believes every institution needs trained hands to ensure foolproof safety for their systems and this industry can offer huge job opportunities.

Fadia, 24, who has a bachelors degree in computer science from Stanford University in California, runs a consulting …. Source article on Gaea Times at  : \’Ethical hacking is a booming industry\’.

Asian Markets Makes Hermes International Happy

HONGKONG, CHINA (GaeaTimes.com)-Demand for the leather goods in the Asian Markets are boring in satisfying results for Hermes International which have witnessed a first quarter sale of 19 percent. Reportedly, the sales figures in the Asian Markets happens to be a tremendous boost to the French fashion house which have gained a increment for the … Read this article on Gaea Times at : Asian Markets Makes Hermes International Happy.

NKorea’s Kim Jong Il leaves China after affirming nuke disarmament talks but no dates set

Kim leaves China after affirming nuke talks
BEIJING – North Korean leader Kim Jong Il left China on Friday after a secretive five-day visit that reaffirmed the importance of long-delayed nuclear disarmament talks but produced no firm dateline for rejoining that process.
Kim’s armored train crossed the border back into North Korea midmorning after leaving …. Read the original article  : NKorea’s Kim Jong Il leaves China after affirming nuke disarmament talks but no dates set.

Asian stocks sink on fears Greek debt crisis could spread after record Dow drop

Asian stocks sink on Europe debt fears
SINGAPORE – Asian stocks sank Friday following a huge sell-off on Wall Street as fears that Greece’s debt crisis could spread to other European nations continued to rattle investors.
Japan’s benchmark Nikkei 225 stock average dropped 331.10 points, or 3.1 percent, to 10,364.59, South Korea’s Kospi tumbled 2.2 … Read : Asian stocks sink on fears Greek debt crisis could spread after record Dow drop.

Ill. Democrats begin pushing forward state budget that delays pension money, trims spending

Ill. Democrats moving budget that shorts pensions

SPRINGFIELD, Ill. – Democrats in the Illinois Legislature began pushing forward Thursday with a budget that would shortchange troubled pension systems and give the governor broad new power over spending.
The Illinois Senate approved it 31-26 early Friday morning, just hours after the 2,300-page plan was introduced. It moves to … Original source on Gaea Times at : Ill. Democrats begin pushing forward state budget that delays pension money, trims spending.

Britain’s top 2 parties _ Labour and the Conservatives _ locked in election standoff

UK’s top 2 parties locked in election standoff

LONDON – Liberal Democrat leader Nick Clegg says he’ll take his time to decide if his party will strike any pact with Britain’s two major parties after an inconclusive election ended in political standoff.
Clegg said his party has suffered a “disappointing” result, and urged all sides to take … Read more »».

Completed Punjab projects get inauguration blues

HOSHIARPUR – Guess why a bus stand, a flyover and a bridge in Hoshiarpur district are under security cover now. The ruling political masters have not been able to spare time to inaugurate them – and they don’t want the structures to fall into the hands of opposition leaders either!

Leaders of the ruling Akali Dal-Bharatiya … Read more >>.

Euro-zone nations to meet in Brussels to finalize Greek rescue plan

Euro-zone nations to finalize Greek rescue plan

BRUSSELS – The 16 leaders of the euro zone meet in Brussels Friday to finalize the Greek rescue plan and assess how such financial crises can be avoided in the future. In Berlin, Germany’s parliament will vote on its contribution to the loan package.
Greek lawmakers approved drastic austerity cuts … Read this article on Gaea Times at : Euro-zone nations to meet in Brussels to finalize Greek rescue plan.

US fails to protect child workers: Human Rights Watch

NEW YORK – The US is failing to protect hundreds of thousands of children engaged in often gruelling and dangerous farm work, Human Rights Watch has said.

Human Rights Watch called on Congress to amend a federal law that permits children under age 18 to work for hire in agriculture at far younger ages, …. Source article  : US fails to protect child workers: Human Rights Watch.

Venezuela’s annual inflation rate surpasses 30 percent; prices jump 5.2 percent in April

Venezuela annual inflation rate hits 30 percent

CARACAS, Venezuela – Venezuela’s annual inflation rate has surpassed 30 percent after consumer prices surged in April.
The Central Bank and National Statistics Institute on Friday reported a 5.2 percent increase in consumer prices during April, driving up the annual rate to 30.4 percent.
President Hugo Chavez’s government has been struggling …. Source  : Venezuela’s annual inflation rate surpasses 30 percent; prices jump 5.2 percent in April.

Effort in Kansas Senate aimed at reviving racing becomes mired in dispute over smoking ban

Kan. Senate work on gambling mired in smoking fuss

TOPEKA, Kan. – An effort in the Kansas Senate to revive the state’s dog- and horse-racing industry became mired Friday night in a contentious debate over banning smoking in state-owned casinos.
The Senate spent five hours debating a bill designed to make slot machines more profitable for the [..] Read the original article: here.

Big 2 in Britain’s inconclusive election woo third party as market’s press for quick result

Big parties woo kingmaker in Britain’s election

LONDON – Britain’s inconclusive election turned into high political drama Friday, with the Conservatives and Labour Party wooing a potential ally as the markets pressed for results and a public accustomed to clearer outcomes watched transfixed.
Conservative leader David Cameron, ahead but shy of a majority, seized the initiative with … Read more >>.

Head of Chicago area’s rail system kills self by stepping in front of train, officials say

Ill. rail chief dies in apparent suicide by train

CHICAGO – Authorities say the executive director of the Chicago area’s Metra commuter rail service has died of an apparent suicide after he stepped into the path of one of his agency’s trains.
Phil Pagano was under investigation into allegations that he received an unapproved $56,000 bonus. McHenry …. Source  : Head of Chicago area’s rail system kills self by stepping in front of train, officials say.

Resurgence of market’s fear gauge suggests volatility likely to linger

Warning from Wall Street’s fear gauge: Buckle up

BOSTON – Expect stock market volatility to stick around at least another month. Investors can say goodbye to calm they recently began to enjoy.
That’s the message from the market’s fear gauge, formally known as the Chicago Board of Options Exchange’s Volatility Index.
The VIX surged again Friday, to post … Read : Resurgence of market’s fear gauge suggests volatility likely to linger.

Regulators shut down banks in Fla., Minn., Ariz., Calif.; brings total failures to 68 in 2010

FDIC shuts banks in Fla., Minn., Ariz., Calif.

CHARLOTTE, N.C. – Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year.
The Federal Deposit Insurance Corp. took over The Bank of Bonifay, based in Bonifay, Fla., which had $242.9 million in assets and $230.2 …. Source article  : Regulators shut down banks in Fla., Minn., Ariz., Calif.; brings total failures to 68 in 2010.

Big 5 Sporting Goods shares fall in Friday trading despite posting strong 1st-quarter results

Big 5 Sporting Goods stock falls despite strong 1Q

EL SEGUNDO, Calif. – Shares of Big 5 Sporting Goods Corp. fell sharply Friday despite reporting an 82 percent jump in first-quarter profit that beat Wall Street expectations.
The discount retailer late Thursday posted net income for the three months ended April 1 of $5 million, or 23 … Read this article on Gaea Times at : Big 5 Sporting Goods shares fall in Friday trading despite posting strong 1st-quarter results.

Summary Box: Treasurys ease on stronger economic data; Greek debt crisis fuels volatile trade

Summary Box: Bond prices ease in bumpy trading

TURNAROUND: Interest rates edged higher in the bond market Friday as positive jobs data raised expectations about the U.S. economy. Greece’s debt crisis fuels volatile trading.
ECONOMIC NEWS: The Labor Department reported that employers added 290,000 jobs in April, far more than economists expected. The jobless rate rose to …. Source article  : Summary Box: Treasurys ease on stronger economic data; Greek debt crisis fuels volatile trade.

Ill. Democrats fumble for budget plan that can pass as they try to address deficit and adjourn

Ill. Dems fumble for budget plan that can pass

SPRINGFIELD, Ill. – Democratic leaders struggled to put together a mix of budget maneuvers Friday that would close a $13 billion deficit, or at least disguise it, and still attract enough votes to pass.
Gov. Pat Quinn huddled for hours with House Democrats but emerged without any breakthrough. …. Original source  : Ill. Democrats fumble for budget plan that can pass as they try to address deficit and adjourn.

Regulators shut down banks in Florida, Minnesota; brings total failures to 66 this year

Regulators close banks in Florida, Minnesota

CHARLOTTE, N.C. – Regulators on Friday shut down banks in Florida and Minnesota, bringing the number of U.S. bank failures this year to 66.
The Federal Deposit Insurance Corp. took over The Bank of Bonifay, based in Bonifay, Fla., which had $242.9 million in assets and $230.2 million in deposits as … Read more »».

3 critically ill in E. coli outbreak of strain; FDA investigating Ariz. lettuce farm

FDA investigating E. coli at Ariz. lettuce farm

WASHINGTON – Lettuce grown in Yuma, Ariz. may be the source of a widespread E. coli outbreak in romaine lettuce that has sickened at least 19 people and prompted a recall in 23 states.
Federal investigators are looking at a farm in Yuma as a possible source for the …. Source  : Gaea News Network.

Auto parts supplier Visteon proposes new reorganization plan

Visteon proposes new reorganization plan
DOVER, Del. – Auto parts supplier Visteon has agreed to give senior noteholders control of the company if they can raise more than $1 billion to pay off secured lenders.

A revised bankruptcy reorganization plan filed in Delaware calls for a $300 million purchase commitment and a $950 million stock rights offering …. Source  : Auto parts supplier Visteon proposes new reorganization plan.

Companies crank up hiring by most in 4 years, boosting recovery, but unemployment rate rises

Burst of hiring aids recovery, but long slog ahead

WASHINGTON – The economy got what it needed in April: A burst of hiring that added a net 290,000 jobs, the biggest monthly total in four years. It showed employers are gaining confidence as the recovery takes deeper root.
But people who had given up on finding jobs …. Original article on Gaea Times at  : Companies crank up hiring by most in 4 years, boosting recovery, but unemployment rate rises.

Territorial Savings Bank had net income of $1.4 million in first quarter

Territorial Savings Bank posts profit
HONOLULU – The holding company parent of Territorial Savings Bank has announced net income of $1.5 million, or 13 cents per share, for the three months ended March 31.

Territorial Bancorp Inc. said Friday that was down from $2.7 million for the same quarter last year.
The company says this year’s earnings were … Read the original article on Gaea Times at : Territorial Savings Bank had net income of $1.4 million in first quarter.

Stymied by $13 billion deficit, Illinois Democrats miss self-imposed budget deadline

Ill. Democrats miss self-imposed budget deadline

SPRINGFIELD, Ill. – Democratic legislative leaders missed their self-imposed deadline for passing a new budget Friday and sent lawmakers home until they can figure out a solution to the state’s $13 billion deficit.
“Our business is not finished,” House Speaker Michael Madigan told lawmakers before adjournment. “When we are prepared to …. Original article  : Stymied by $13 billion deficit, Illinois Democrats miss self-imposed budget deadline.

Regulators, market officials sift through trades for cause of record Wall Street plunge

Regulators search for clues to market plunge

NEW YORK – Regulators and Wall Street officials went through millions of trades one by one Friday and canceled thousands as they sought to explain a record plunge in the stock market, undo damage and keep it from happening again.
It wasn’t clear how long the laborious process would take … Read more : Regulators, market officials sift through trades for cause of record Wall Street plunge.

Consumer borrowing unexpectedly rises in March, only the second increase in last 14 months

Consumer borrowing posts unexpected rise in March

WASHINGTON – Consumer borrowing posted an unexpected increase in March, only the second gain in the last 14 months. It could be a sign that households are feeling more confident about boosting spending, a key development needed to support a sustained economic recovery.
The Federal Reserve reported Friday that consumer … Read : Consumer borrowing unexpectedly rises in March, only the second increase in last 14 months.

Las Vegas jury orders drug companies to pay $500M in punitive damages in hepatitis C case

Jury awards $500M punitive damages in hep C case

LAS VEGAS – A jury in Las Vegas ordered two drug companies to pay a combined $500 million in punitive damages in the first of hundreds of civil cases stemming from a hepatitis C outbreak two years ago.
The Clark County District Court jury on Friday ordered Teva …. Read the original article  : Las Vegas jury orders drug companies to pay $500M in punitive damages in hepatitis C case.

Another wild ride: Stocks stumble again, a day after Dow’s biggest plunge, as Europe weighs

Stocks slide anew, but it’s still not a correction

NEW YORK – The stock market’s wild ride may not be over yet.
The Dow Jones industrials whipsawed again Friday, a day after their largest one-day plunge. The average was down as much as 279 points in the morning, went briefly into the black around lunchtime, then ended … Read more : Another wild ride: Stocks stumble again, a day after Dow’s biggest plunge, as Europe weighs.

Turkey keen on FTA, more tourists from India

NEW DELHI – India and Turkey share many things in common, including a parliamentary democracy and secular values, and a Free Trade Agreement between the two countries would be a valued development, Turkish Ambassador to India Levent Bilman has said.

Speaking to select journalists at the Turkish embassy here, Bilman said “India and Turkey are coming [..] Read the original article: here.

India to showcase export potential in Trinidad

Port-of-SPAIN – Even as India’s eyes are on the Caribbean as the cricket fiesta peaks with the T20 World Cup, India’s huge export potential will soon be showcased here at an Indian trade exposition in Trinidad and Tobago.

The Federation of Indian Export Organisations (FIEO), in partnership with the India-Trinidad and Tobago Chamber of Industry and … Read more : India to showcase export potential in Trinidad.

Manipur hit by shortage of essentials, life saving drugs

IMPHAL – The price of petrol soared to Rs.150 a litre while most hospitals were running out of life-saving drugs and oxygen in Manipur Sunday following an indefinite economic blockade launched by various Naga tribal groups Thursday to protest the state government’s decision to prevent separatist leader Thuingaleng Muivah from visiting his birthplace.

“Maybe by …. Original article on Gaea Times at  : Manipur hit by shortage of essentials, life saving drugs.

Amul In Troubled Times

GUJARAT, INDIA (GaeaTimes.com)- All is not well with Amul which is among the biggest food brands of India. The company is going through troubled times. The ouster of its founder, Verghese Kurien has brought the company into loads of problems. The political parties are trying to interfere with the internal affairs of the cooperative …. Source article on Gaea Times at  : Amul In Troubled Times.

Rabindra Jayanti Offer From Vodafone

KOLKATA, INDIA (GaeaTimes.com)- Today is the 150th Birthday Anniversary of Nobel Winning poet and writer Rabindranath Tagore and a lot of programs are being arranged to celebrate the occasion. The Bengalis in West Bengal and especially Kolkata have a special place in their mind for this talented and versatile poet who has left …. Source  : Gaea News Network.

A skirt that looks like a Coca Cola vending machine

LONDON – A skirt that doubles as a disguise, which has been inspired by Japanese ninja assassins, has been unveiled in Japan. When unfolded, it looks like a Coca Cola vending machine.

Aya Tsukioka, 31, hopes that her dress would help ease women’s worry about crime and outfox would-be attackers, Daily Mail reported.
Tsukioka gave a … Read this article on Gaea Times at : A skirt that looks like a Coca Cola vending machine.

Duty on imported sugar will help stabilise prices: Mawana

NEW DELHI – The government should at the earliest levy duty on refined sugar being imported into country as it will not only stabilise the sweetener’s prices but also help the industry cut its losses, said a top official of a sugar company.

“Due to speculation in the market that the government may impose tax, …. Source article on Gaea Times at  : Duty on imported sugar will help stabilise prices: Mawana.

Manufacturing sector to grow 11-12 percent in April-June: Study

NEW DELHI – India’s manufacturing sector is expected to expand 11-12 percent in the April-June quarter, lower than 15 percent expected in January-March, due to sharp increases in raw material prices and insufficient power, according to a survey.

The survey by industry lobby FICCI (Federation of Indian Chambers of Commerce and Industry) said chemical and allied …. Source  : Manufacturing sector to grow 11-12 percent in April-June: Study.

FDI in defence should not be raised to 100 percent: CII

NEW DELHI – Foreign direct investment (FDI) in the defence sector should not be raised to 100 percent from the present 26 percent, says the Confederation of Indian Industry (CII).

“Industry is not in favour of 100 percent FDI in defence segment. Increasing the FDI limit to 49 percent would be beneficial,” said the industry lobby. … Read this article on Gaea Times at : FDI in defence should not be raised to 100 percent: CII.

Selfishness shouldn’t guide business: Nobel laureate Yunus

DHAKA – Bangladeshi Nobel laureate Muhammad Yunus has called for establishing society-oriented business to tackle global poverty and social injustice and added that “selfishness has created a string of socio-economic problems across the globe”.

“If we had created another kind of business on the basis of selflessness, we could have created a different kind of world,” …. Read the original article  : Selfishness shouldn’t guide business: Nobel laureate Yunus.

Brazil oil firm sets oil output record in April

Rio de Janeiro, May 9 (IANS/EFE) Brazilian state-controlled energy giant Petrobras set a new monthly record for oil output in April, producing an average of 2.03 million barrels of crude per day at its domestic fields.

That total eclipsed the previous record – set last September – by 29,000 barrels per day, the company said in [..] Read the original article: here.

20 Spain airports closed due to volcanic ash

Madrid, May 9 (IANS/EFE) Twenty Spanish airports in the northern part of the Iberian peninsula were closed Saturday due to the cloud of ash from the Icelandic volcano of Eyjafjalla, which covered part of Spanish air space.

The decision, which follows the recommendation of the European Organization for the Safety of Air Navigation, or Eurocontrol, was … Original source on Gaea Times at : 20 Spain airports closed due to volcanic ash.

US firm to invest $700 mn in Guatemala power plant

Guatemala City, May 9 (IANS/EFE) Jaguar Energy Guatemala, a subsidiary of Houston-based Ashmore Energy International (AEI), plans to invest a total of $700 million to build a power plant along Guatemala’s south-central coast, a minister said.

The 300 MW plant, to be fed by coal and other solid fuels, will be located in the town of … Read more : US firm to invest $700 mn in Guatemala power plant.

‘Bio-fuel units in Amazon will reduce climate damage’

Tome-Acu (Brazil), May 9 (IANS/EFE) Setting up of palm-oil processing plants in Amazon will help reduce environmental damage and generate wealth for the region, Brazilian President Luiz Inacio Lula da Silva has said.

“This is the start of a revolution in this region,” Lula said in a speech in Tome-Acu, a town in the northern state …. Original source  : ‘Bio-fuel units in Amazon will reduce climate damage’.

China delays Europe flights due to new volcanic eruption

BEIJING – Air China, the country’s international carrier, has announced that it has delayed its European flights due to the new volcanic eruption in Iceland that had spewed a huge ash cloud and again disrupted air traffic in the region.

Flights from Beijing to Sao Paulo, which stops by Madrid, and flights from Beijing to Milan … Read more : China delays Europe flights due to new volcanic eruption.

Source: Glendale, Ice Edge near new agreement on Coyotes lease; NHL wants cash

Source: City, Ice Edge near lease deal for Coyotes

PHOENIX – A person close to the talks says Ice Edge Holdings is nearing agreement on a memorandum of understanding that gives the group exclusive negotiating rights with the city of Glendale on a new lease agreement for the NHL’s Phoenix Coyotes.
The agreement, a necessary step toward … Original source on Gaea Times at : Source: Glendale, Ice Edge near new agreement on Coyotes lease; NHL wants cash.

Embattled 3-term US Sen. Bob Bennett ousted at Utah Republican convention

US Sen. Bob Bennett ousted at Utah GOP convention
SALT LAKE CITY – Republican Sen. Bob Bennett was thrown out of office Saturday by delegates at the Utah GOP convention in a stunning defeat for a once-popular three-term incumbent who fell victim to a growing conservative movement nationwide.
Bennett’s failure to make it … Read : Embattled 3-term US Sen. Bob Bennett ousted at Utah Republican convention.

Huntsman family company will operate Sotheby’s offices in Jackson, Sun Valley

Utah family will operate luxury real estate firm

JACKSON, Wyo. – A Utah family has signed a deal to operate a luxury real estate business in Jackson and Sun Valley, Idaho.
Under the deal announced Friday, a company owned by the Jon M. Huntsman family will hold a 20-year franchise to operate Sotheby’s International Realty offices in … Read more >>>.

Laura Chinchilla sworn in as Costa Rica’s 1st female president, replaces Nobel laureate Arias

Costa Rica inaugurates new President Chinchilla

SAN JOSE, Costa Rica – Adios, peace prize winner. Hola, first female president.
Costa Rica inaugurated Laura Chinchilla as its first woman leader on Saturday, replacing Nobel laureate Oscar Arias with his former vice president and protege. She promises to pursue the same economic policies that recently brought the country into …. Read the original article  : Laura Chinchilla sworn in as Costa Rica’s 1st female president, replaces Nobel laureate Arias.

Service Employees International Union elects health care expert Henry to be president

Powerful SEIU selects Henry as president
WASHINGTON – The nation’s fastest growing labor union has elected a health care expert to be its next president.

The Service Employees International Union selected Mary Kay Henry, head of the union’s health care division, at its meeting on Saturday. She replaces Andy Stern, who is leaving after 14 years of …. Read the original article  : Service Employees International Union elects health care expert Henry to be president.