Sunday, May 30, 2010

Business News – Newsletter for May 30, 2010

Sunday, May 30, 2010


Many Americans dogged by debt stress, despite whittling down IOUs, improved national economy

Poll finds debt-dogged Americans stressed out

WASHINGTON – The economy trudges ahead yet debt dogs many Americans, stressing them out even as they firm up their own financial foundations.
There are new jobs produced but old worries persisting for people despite belt-tightening and boosted savings, according to an Associated Press-GfK poll.
About 46 percent of those surveyed say … Original article on : Many Americans dogged by debt stress, despite whittling down IOUs, improved national economy.

Sweet cherries gone sour for Himachal growers

SHIMLA – A bumper sweet cherry crop this year has gone sour for farmers in Himachal Pradesh. The high yield has pushed prices so low that growers are getting 25 to 35 percent less than what they received last year.

Horticulture department officials say the total cherry production is set to touch a record 1,000 …. Original article on Gaea Times at  : Sweet cherries gone sour for Himachal growers.

India’s train to Taipei: Business, Bollywood, Buddhism

TAIPEI – The three Bs of business, Bollywood and Buddhism are set to bring India and Taiwan closer as the self-ruled island and tech mecca – encouraged by the thaw with China – looks afresh at India as a rising Asian power and burgeoning market.

“Taiwan can’t put all the eggs in one basket. We are …. Read the original article  : India’s train to Taipei: Business, Bollywood, Buddhism.

Kingfisher, Finnair voted among best carriers

LONDON – Vijay Mallya-led Kingfisher Airlines has been voted the best Indian carrier and Finnair the best in north Europe in a global survey by an independent research agency — often called the Oscars of airline industry.

Kingfisher got the honours under three categories — best airline in India and Central Asia, best economy class seats …. Source  : Gaea News Network.

Fertiliser sector reforms will attract fresh investments (Comment)

The fertiliser sector in India has been through difficult times in recent years. Stagnant production, no fresh investment and poor financial health of the units were accompanied by high level of import, imbalanced use of nutrients and deteriorating soil health. Mounting subsidy bill posed a serious fiscal management problem to the government.

Industry has been pursuing … Original article on : Fertiliser sector reforms will attract fresh investments (Comment).

Krishna to address US high-powered industry meet

WASHINGTON – Indian External Affairs S. M. Krishna will deliver a keynote address at the US-India Business Council’s (USIBC) 35th Annual General Meeting to share India’s vision for the US-India strategic partnership.

Recognizing the vital role industry plays in shaping the policy of governments, Krishna will be calling on US industry on June 2 in advance … Read more : Krishna to address US high-powered industry meet.

Venice-like tourist city coming up in China

BEIJING – China is contemplating building a tourist destination worth 60 billion yuan ($8.8 billion) on the lines of Venice, a city covering over 100 small islands inter-connected by lagoons.

The “water-themed” tourist city in Kaixian county in Chongqing, southwest China, will be about 50 sq km large. It will have a 200-hectare wetland park and …. Original source  : Venice-like tourist city coming up in China.

Call for public-private alliance to ensure safe cities

NEW DELHI – The government should partner with private companies to set up an integrated security system at the local and national levels in view of rising threats from terrorists and left-wing extremists, says an industry lobby.

“Emerging security trends transcend public-private barrier and there is an imperative need to evolve a structured and regular interaction …. Original source  : Call for public-private alliance to ensure safe cities.

Lawyers offer to reduce fees in 9/11 health case in attempt to save settlement

Lawyers offer to reduce fees in 9/11 health case

NEW YORK – Lawyers for thousands of ground zero workers suing over their exposure to dust from the destroyed World Trade Center have offered to lower their legal fees in an attempt to salvage a major settlement in the case.
The law firm Worby Groner Edelman & Napoli … Read the original article on Gaea Times at : Lawyers offer to reduce fees in 9/11 health case in attempt to save settlement.

Businesses, homeowners appeal Michigan tax bills as they seek relief in difficult economy

Businesses, homeowners appeal Michigan tax bills

DETROIT – A record number of Michigan property owners are appealing their property tax assessments as small-claim homeowners and high-stakes businesses seek relief in a difficult economy.
The wave of appeals to the Michigan Tax Tribunal could decimate the budgets of local governments. The deadline for larger appeals above $20,000 is … Read more : Businesses, homeowners appeal Michigan tax bills as they seek relief in difficult economy.

Creditors seek to force Texas Rangers holding companies into bankruptcy case

Rangers creditors seek to expand bankruptcy case

FORT WORTH, Texas – Creditors for the Texas Rangers are seeking to expand the baseball team’s recently filed Chapter 11 bankruptcy by forcing two of the club’s equity holding firms into the case.
A group of creditors that holds some of the $525 million in team debt filed involuntary bankruptcy …. Original source  : Creditors seek to force Texas Rangers holding companies into bankruptcy case.

Washington state officials say BP won’t appeal citation for 13 safety violations at refinery

BP won’t appeal fine for Wash. refinery violations

BLAINE, Wash. – The Washington state Department of Labor and Industries says the BP Cherry Point petroleum refinery will not appeal a citation issued earlier this month for 13 safety violations.
The violations carry a fine of $69,200.
The department says the petroleum refinery failed to follow rules for managing …. Original article on Gaea Times at  : Washington state officials say BP won’t appeal citation for 13 safety violations at refinery.

Debt crisis in EU states will impact Indian exports

BRUSSELS – The current debt crisis in some European Union member states will have a negative impact on Indian exports and the Indian stock market, a top official said Saturday.

At least 27 percent of India’s trade is with Europe and the crisis will impact India’s export to the region, Sunil Prasad, the Europe India Chamber … Read this article on Gaea Times at : Debt crisis in EU states will impact Indian exports.

When it comes to budget cuts, states are passing the buck to cash-strapped local governments

States passing budget cuts onto local governments

JEFFERSON CITY, Mo. – Confronted with severe revenue shortfalls, some states have found a convenient way of softening painful cutbacks and avoiding statewide tax increases: They’ve passed the buck to their counterparts in cities and counties.
Traditionally, many states help bear the cost of jailing inmates, paving roads, running libraries … Original source on Gaea Times at : When it comes to budget cuts, states are passing the buck to cash-strapped local governments.

Opponents of Arizona immigration law march on state Capitol; supporters plan evening rally

Immigration law protesters march on Ariz. Capitol
PHOENIX – Thousands of people from around the country marched to the Arizona state Capitol on Saturday to protest the state’s tough new crackdown on illegal immigration.
Opponents of the law suspended their boycott against Arizona and bused in protesters from around the country. Organizers said … Original article on : Opponents of Arizona immigration law march on state Capitol; supporters plan evening rally.

Correction: Motorola personnel story

Correction: Motorola personnel story
NEW YORK – In a story and headline May 28 about Motorola Inc., The Associated Press reported erroneously that the company has increased the severance package that co-CEO Greg Brown can walk away with if he does not become the sole chief executive next year. In an amended employment agreement, Motorola increased …. Source article on Gaea Times at  : Correction: Motorola personnel story.

3G auction revenue to reduce fiscal deficit: Pranab

BANGALORE – Revenue generated from the auction of third generation (3G) spectrum license would help the government in reducing the fiscal deficit, Union Finance Minister Pranab Mukherjee said here late Saturday.

“The revenue generated by the distribution of 3G spectrum license will reduce the fiscal deficit and provide elbow room to return to the fiscal consolidation …. Source  : 3G auction revenue to reduce fiscal deficit: Pranab.

FIFA says 100,000 World Cup tickets sold in less than 2 days in final sales phase

FIFA: 100,000 WCup tickets sold in 2 days
JOHANNESBURG – FIFA says 100,000 World Cup tickets have been sold in less than two days as local fans make a late push to attend the tournament.

FIFA said Saturday that 14 matches were sold out, including the final, semifinals and South Africa’s group games.
An extra 90,000 tickets, mainly …. Original article on Gaea Times at  : FIFA says 100,000 World Cup tickets sold in less than 2 days in final sales phase.

Germany’s Angela Merkel goes from glory to disgrace over handling of Europe’s financial crisis

German leader Merkel goes from glories to disgrace

BERLIN – It was only nine months ago that Forbes magazine named German Chancellor Angela Merkel the world’s most powerful woman for the fourth year in a row.
She impressed Germans and foreigners alike with her ascent to power – an East German pastor’s daughter who took control of …. Source  : Gaea News Network.

Aid flotilla bound for Gaza faces delays, loss of ships and key members of delegation

Flotilla bound for Gaza delayed, loses key members

JERUSALEM – Ships carrying 10,000 tons of supplies and hundreds of pro-Palestinian activists to blockaded Gaza were being held up near Cyprus on Saturday, as organizers tried to get nearly two dozen high-profile supporters on board.
The flotilla was initially to set sail toward Gaza on Saturday afternoon, and … Original source on Gaea Times at : Aid flotilla bound for Gaza faces delays, loss of ships and key members of delegation.

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