Saturday, May 15, 2010

Business News – Newsletter for May 15, 2010

Saturday, May 15, 2010


Now, TV that switches off automatically when you snooze!

NEW YORK – A new, innovative television model has been created that uses facial recognition technology to determine when you’re starting to snooze, and actually switches off the picture when you nod off.

According to The Guardian, the Sony Bravia WE5 comes with a heat and motion sensor that lets the system switch off the set …. Source article on Gaea Times at  : Now, TV that switches off automatically when you snooze!.

Air India to join Star Alliance by March 2011

SAO PAULO – Air India has set March 2011 as the outer deadline to join the Star Alliance, the world’s largest commercial pact among carriers, chairman Arvind Jadhav said here late Friday.

This is the first time since an invitation was extended in Beijing in late 2007 that the Indian carrier has set a specific time …. Original article on Gaea Times at  : Air India to join Star Alliance by March 2011.

CPI MP held in Orissa over Posco protest

BHUBANESWAR – A Communist Party of India (CPI) MP was arrested in Orissa Saturday as he was headed to meet hundreds of villagers opposing a project by South Korean steel major Posco in Jagatsinghpur district, police said.

Bibhu Prasad Tarai, MP from Jagatsinghpur constituency, was held while he was on his way to Dhinkia village.
“We … Original article on : CPI MP held in Orissa over Posco protest.

Kashmir agriculture eyes revival, European buyers

JAMMU – Before militancy set in, Europeans would come to Jammu and Kashmir to buy the best quality farm seeds. And now the Himalayan state, still famous for its fruits, is trying to revive agriculture and lure the prized customers right back.

“We used to produce the best quality seeds taking advantage of the geographic and … Original source on Gaea Times at : Kashmir agriculture eyes revival, European buyers.

NYC agency: 633 of 50,000 cab drivers repeatedly overcharge, could lose licenses

Officials: 633 NYC cabbies routinely overcharge

NEW YORK – A New York City commission says 633 taxi drivers have been routinely overcharging riders, and those drivers could lose their licenses.
The city’s Taxi and Limousine Commission made the determination after a monthslong investigation. The agency referred its findings to the city’s Department of Investigation and the Manhattan … Read more »».

Australian teen becomes youngest ever to sail solo, unassisted around the world

Australian teen completes round-the-world sail

SYDNEY – An Australian teen who spent seven months at sea has become the youngest person to sail solo, nonstop and unassisted around the world.
Sixteen-year-old Jessica Watson sailed into Sydney Harbour on Saturday after completing a 23,000-nautical mile voyage.
Thousands lined the harbor to cheer on Watson as she cruised into port …. Source  : Australian teen becomes youngest ever to sail solo, unassisted around the world.

New clashes in central Bangkok as troops, anti-government protesters face off

New clashes in central Bangkok after 16 killed

BANGKOK – Thai troops clashed with die-hard protesters vowing to defend their fortified encampment in downtown Bangkok on Saturday following two days of running gunbattles that killed 16 people and wounded nearly 160.
Scattered violence resumed Saturday morning, after encircling troops used tear gas, rubber bullets and live rounds …. Source article  : New clashes in central Bangkok as troops, anti-government protesters face off.

Blackberry may launch own tablet by yearend

TORONTO – With Apple’s iPad selling more than a million devices within days of launch in the US and its iPhone set to overtake BlackBerry globally, Research In Motion, the maker of BlackBerry, is reportedly launching its own tablet later this year.

The Canadian company, based at Waterloo near Toronto, has not confirmed the reports, …. Original article  : Blackberry may launch own tablet by yearend.

Ratification of US-SKorea trade deal likely to become a victim of politics this year

US-SKorea trade deal a victim of US politics
WASHINGTON – Leading senators and a group of former officials are pushing the Obama administration to send a stalled U.S.-South Korean free trade deal to Congress. But with November elections looming, the accord may already be dead this year.
Unemployment is high in this country and few … Read more : Ratification of US-SKorea trade deal likely to become a victim of politics this year.

Army recalls 44,000 defective combat helmets; risk to soldiers still being determined

Army recalls 44,000 combat helmets
WASHINGTON – The Army says it is recalling 44,000 advanced combat helmets that have been issued to soldiers worldwide because they do not meet military specifications.

The Army said in a statement Friday that the risk to soldiers wearing the helmets is still being determined. New helmets are being issued to anyone … Read : Army recalls 44,000 defective combat helmets; risk to soldiers still being determined.

Regulators shut banks in Georgia, Illinois, Michigan, Missouri; makes 72 US failures this year

Regulators shut 4 banks; 72 have failed this year

WASHINGTON – Regulators on Friday shut down Midwest Bank and Trust Company in Elmwood Park, Ill., as well as three smaller banks in Georgia, Michigan and Missouri to bring the number of U.S. bank failures this year to 72.
The Federal Deposit Insurance Corp. took over Midwest Bank … Read the original article on Gaea Times at : Regulators shut banks in Georgia, Illinois, Michigan, Missouri; makes 72 US failures this year.

Calif ethics panel fines CalPERS board member again for failing to file documents on time

California ethics panel fines CalPERS board member

SACRAMENTO, Calif. – California’s ethics panel fined a board member at the state’s embattled public pension fund $4,000 for failing to file her annual economic disclosures on time.
The Fair Political Practices Commission fined Priya Mathur on Thursday for filing her 2008 statement of economic interest document late, a month …. Original source  : Calif ethics panel fines CalPERS board member again for failing to file documents on time.

Hino Motors seeks to force Entergy Arkansas to lower rate; says fees not applied fairly

Hino targets Entergy policy, seeks payment cuts

LITTLE ROCK, Ark. – Hino Motors asked regulators Friday to order Entergy Arkansas to develop a new agreement covering Hino’s costs for electricity and fees for the substation and power lines Entergy extended to Hino’s east Arkansas plant.
Hino Motors Manufacturing USA says its minimum monthly electric payment is just …. Original source  : Hino Motors seeks to force Entergy Arkansas to lower rate; says fees not applied fairly.

Investment firm that blasted proposed sale of Infogroup has bought nearly 1M more shares

Investor adds to Infogroup stake, controls 7 pct

OMAHA, Neb. – One of the two investment firms that objects to the proposed sale of Infogroup Inc. as underpriced has bought nearly 1 million shares of the database provider since the deal with CCMP Capital Advisors was announced early last month.
Hotchkis and Wiley Capital Management has said …. Original article  : Investment firm that blasted proposed sale of Infogroup has bought nearly 1M more shares.

Maine Public Utilities Commission approves CMP’s plan to double power grid capacity

Regulators approve Maine power grid upgrade

AUGUSTA, Maine – The Maine Public Utilities Commission on Friday approved Central Maine Power’s proposed $1.4 billion power grid upgrade.
The state’s largest electric utility plans to build a new 345,000-volt transmission line from Orrington to Eliot, doubling the capacity of the grid’s backbone. CMP contends the improvements, the first major … Read more »».

‘Law & Order’ is canceled by NBC after 20 seasons, on the brink of a record-breaking run

Case closed: ‘Law & Order’ is canceled by NBC

NEW YORK – There was never any doubt that, someday, “Law & Order” would come to an end.
But the death sentence handed down by NBC on Friday caught many observers by surprise. Viewers weren’t prepared to say farewell to this beloved TV warhorse. Not this way, with …. Original article on Gaea Times at  : ‘Law & Order’ is canceled by NBC after 20 seasons, on the brink of a record-breaking run.

Regulators shut down small banks in Georgia, Michigan; makes 70 US bank failures this year

Regulators shut small banks in Georgia, Michigan

WASHINGTON – Regulators on Friday shut down small banks in Georgia and Michigan, bringing the number of U.S. bank failures this year to 70.
The Federal Deposit Insurance Corp. took over Satilla Community Bank, based in Saint Marys, Ga., with about $134 million in deposits and $135.7 million in assets.
The …. Original source  : Regulators shut down small banks in Georgia, Michigan; makes 70 US bank failures this year.

Summary Box: Retail sales and industrial production both show strong gains in April

Summary Box: Economy flashes more growth signals

RETAIL SALES: Retail sales posted a 0.4 percent gain in April, a better-than-expected performance and the seventh consecutive monthly increase.
INDUSTRIAL PRODUCTION: Factory orders shot up 0.8 percent last month as manufacturing continued to be one of the standout performers in the current recovery.
OUTLOOK: The hope is that continued demand … Original source on Gaea Times at : Summary Box: Retail sales and industrial production both show strong gains in April.

Summary Box: Dow falls 163 points on concerns that European debt bailout will slow growth

Summary Box: Stocks fall after euro slides anew

ANOTHER DROP: The Dow Jones industrial average fell 163 points after concerns grew that spending cuts under Europe’s bailout plan would hurt the global economy.
STRONG WEEK: A jump of 405 points in the Dow on Monday left stocks up sharply for the week. Traders were relieved early in … Read more >>.

Regulators shut down small bank in Michigan; makes 70 US bank failures this year

Regulators shut small Michigan bank
WASHINGTON – Regulators have shut down a small bank in Michigan, bringing the number of U.S. bank failures this year to 70.

The Federal Deposit Insurance Corp. says Friday it took over New Liberty Bank in Plymouth, Mich. It has about $101.8 million in deposits and $109.1 million in assets.
The FDIC said … Original article on : Regulators shut down small bank in Michigan; makes 70 US bank failures this year.

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