Fitch revises Corning rating outlook to ‘positive’ from ’stable’

Fitch revises Corning rating outlook to ‘positive’

CHICAGO – Fitch Ratings said Monday it has affirmed its “BBB+” issuer default rating for Corning Inc., the world’s largest maker of liquid-crystal-display glass.
Fitch also said its rating outlook has been revised to “positive” from “stable.” The ratings agency said its actions affect about $3 billion of debt.
The outlook … Original article on : Fitch revises Corning rating outlook to ‘positive’ from ’stable’.

As senators struggle in primaries, Republicans, Democrats test themes for fall in Pennsylvania

Primary Day: Testing themes for big fall elections
WASHINGTON – For all the primaries testing tea party clout and veteran senators’ ability to survive, a special House election in southwestern Pennsylvania is the multimillion-dollar battleground of choice Tuesday for the two political parties, previewing themes for a fall campaign shadowed by recession and voter … Original article on : As senators struggle in primaries, Republicans, Democrats test themes for fall in Pennsylvania.

YouTube, age 5, is just getting started

SAN FRANCISCO – It’s spawned scandals, spoofs and sensations and is probably the biggest time waster on the planet.

But as video-sharing internet site YouTube celebrated its fifth birthday on Monday, all the signs were that it’s just getting started.
The site, which uploaded its first video in May 2005, now boasts two billion video views … Read the original article on Gaea Times at : YouTube, age 5, is just getting started.

Rising prices remain a worry, but economy progressed (One Year of UPA-II: Economy)

NEW DELHI – Although high inflation remained a sore point during the first year of the United Progressive Alliance (UPA) government’s second term, some major steps were taken, such as a cut in fertiliser subsidy, to keep the reform process going.

Logging a 6.5-percent growth when economies the world over were floundering and limiting the impact …. Read the original article  : Rising prices remain a worry, but economy progressed (One Year of UPA-II: Economy).

GAIL declares 45 percent quarterly net profit

NEW DELHI – Gas Authority of India Limited (GAIL), largest gas transmission and marketing company in India has reported a 45 percent rise in quarterly net profit.

“Gas transmission business has shown a growth of 28 percent with a level of 106.74 mmscmd, and the gas trading … Read more »»».

Emerging Asia should act on potentially destabilizing capital inflows: ADB

MANILA – Governments in emerging Asia should stay on guard and be ready to act if volatile capital inflows threaten to destabilize the region’s financial markets, a new Asian Development Bank (ADB) report says.

Emerging Asia’s capital markets have posted rapid gains as …. Source  : Emerging Asia should act on potentially destabilizing capital inflows: ADB.

US engineers’ body lauds low-cost Indian toilet technology

NEW YORK – A top American engineers’ body has recognized the low-cost toilet technology developed by Indian NGO Sulabh International to improve community health, hygiene and environment in the developing world and in the process triggerring off social reform, restoring human rights and dignity to millions of downtrodden women involved in manual scavenging.

The World … Read more : US engineers’ body lauds low-cost Indian toilet technology.

Telecom companies revive value of the Indian paisa (Comment)

Visiting us during her vacations, Manjari, my teenage niece, asked me if I would help her with a summer project. I agreed. It involved the study of coins. The curious kid wanted to know what a one-paisa coin looked like. Her next question: “What can one paisa buy?”

We were amused as to why a teacher … Read more : Telecom companies revive value of the Indian paisa (Comment).

AirTran Airways pilots, seeking new contract, to step up pressure on management at meeting

AirTran pilots to picket outside annual meeting

ATLANTA – AirTran Airways’ pilots plan to picket outside the discount carrier’s annual meeting to step up pressure on management over the workers’ more than five-year effort to secure a new contract with better wages and quality-of-life improvements.
They also expect to announce during Tuesday’s shareholders’ meeting in Milwaukee that … Read this article on Gaea Times at : AirTran Airways pilots, seeking new contract, to step up pressure on management at meeting.

Mo. lawmakers balk at canceling holidays; Nixon to cancel Friday after Thanksgiving anyway

Mo. lawmakers balk at canceling state holidays

JEFFERSON CITY, Mo. – Missouri state employees will still have days off for the birthdays of Abraham Lincoln and Harry Truman, but they will have to be at work the day after Thanksgiving.
Cash-strapped and facing the possibility of greater budget problems next year, Gov. Jay Nixon had called for …. Source article on Gaea Times at  : Mo. lawmakers balk at canceling holidays; Nixon to cancel Friday after Thanksgiving anyway.

Stocks end little changed after investors track gyrations of euro; Dow posts gain of 6 points

Dow recovers from 184-point drop to edge higher

NEW YORK – Stocks have ended an erratic session little changed after investors spent the day tracking the euro’s moves against the dollar.
A drop and subsequent rebound in the euro Monday has steered the Dow Jones industrial average from a loss of 184 points at midday to a …. Source  : Gaea News Network.

Asian stocks mixed as investors stay cautious after erratic day on Wall Street

Asian stocks mixed after Wall Street finishes flat

TOKYO – Asian stock markets were mixed Tuesday as investors stayed cautious after an erratic session on Wall Street.
Japan’s Nikkei 225 stock average rose 0.5 percent to 10,283.34, recovering slightly after shedding more than 2 percent the previous day. Hong Kong’s Hang Seng index edged up 0.2 percent … Read : Asian stocks mixed as investors stay cautious after erratic day on Wall Street.

Money Market Operations as on May 17, 2010

…. Original article  : Money Market Operations as on May 17, 2010.

Treasury takes $1.6 billion loss; Chrysler pays portion of $4 billion loan received in 2009

Treasury takes $1.6 billion loss on Chrysler loan

WASHINGTON – The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009.
Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.
Treasury said Monday that Chrysler repaid $1.9 …. Original article on Gaea Times at  : Treasury takes $1.6 billion loss; Chrysler pays portion of $4 billion loan received in 2009.

Prudential announces delayed plan for financing acquisition of Asian insurer AIA from AIG

Prudential details $20.9B rights issue for AIA

LONDON – Prudential PLC on Monday announced a rights issue to raise 14.5 billion pounds ($20.9 billion) to help finance its $35.5 billion acquisition of the Asia-based life insurer AIA Group from bailed-out U.S. insurance firm AIG.
The announcement had been expected last week but Prudential was delayed by questions …. Original article on Gaea Times at  : Prudential announces delayed plan for financing acquisition of Asian insurer AIA from AIG.

Fox’s fall schedule focuses on comedies; no announcement on Simon Cowell replacement

Fox network reveals stable new fall schedule

NEW YORK – Fox executives promised to boost a sagging “American Idol” as they confidently outlined plans on Monday for a new season and declared the network the one that “delivers America’s favorite shows.”
Fox is making a special effort to establish new comedies next season, introducing shows that feature … Read the original article on Gaea Times at : Fox’s fall schedule focuses on comedies; no announcement on Simon Cowell replacement.

Eurozone finance ministers defend ‘credible’ euro after 4-year lows against dollar

Eurozone nations defend currency union
BRUSSELS – Eurozone finance ministers defended the euro as a “credible” currency, despite its slide to four-year lows against the dollar, as they sought to tame the fears that have gripped financial markets in recent weeks.

The eurozone meeting came ahead of a Tuesday session of finance ministers from all 27 European … Read more : Eurozone finance ministers defend ‘credible’ euro after 4-year lows against dollar.

Military joins fight against auto dealers over policing car loans

Auto dealers fight to avoid new regulations

WASHINGTON – The nation’s 18,000 auto dealers are trying to cut themselves a deal in the Senate, seeking exemption from proposed consumer regulations that would police how they write car loans.
The Obama administration is pushing back, using the Pentagon to make the case that soldiers are particularly vulnerable to … Original source on Gaea Times at : Military joins fight against auto dealers over policing car loans.

Canada’s PM dispatches his ministers around the world to discourage international bank tax

Canada to voice international bank tax opposition

TORONTO – Canada’s prime minister has dispatched his top ministers around the world to wage a campaign against a proposed international bank tax that he said would unfairly penalize Canadian banks.
Prime Minister Stephen Harper noted Monday that Canada has not experienced the failure of any major financial institution and …. Read the original article  : Canada’s PM dispatches his ministers around the world to discourage international bank tax.

Oil prices fall below $70 for first time since February; pump prices slowly drop

Oil drops again; decline slowly gets to gas pump

Oil prices continue to dramatically spiral downward. A decline in U.S. pump prices apparently will be more drawn out.
Oil fell below $70 Monday for the first time since February due to concerns about the European economy and weakness in the euro. The price has dropped nearly 20 …. Source  : Oil prices fall below $70 for first time since February; pump prices slowly drop.