Benchmarks lose way, mid-caps outperform (Weekly market review)

MUMBAI – Benchmark indices for Indian equities joined global peers to end the week in the red, amid a mixed corporate results season and continuing fears of a sovereign debt default by Greece.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) fell 0.77 percent or 135.49 points to end at 17,558.71 points Friday. … Original article on : Benchmarks lose way, mid-caps outperform (Weekly market review).

Thousands gather for protests in Athens as anger mounts over expected harsh austerity plan

Greek unions protest expected austerity measures

ATHENS, Greece – Thousands of protesters are gathering in central Athens for rallies fueled by anger at expected harsh austerity measures needed to secure rescue loans for near-bankrupt Greece.
The government is set to announce more sweeping spending cuts through 2012 to win support for an international loan package worth ???45 … Original source on Gaea Times at : Thousands gather for protests in Athens as anger mounts over expected harsh austerity plan.

Mass strikes hit Greece as bailout talks reach climax

ATHENS – Greece’s government was close to clinching a deal Saturday for a multi-billion aid package from fellow eurozone countries and the International Monetary Fund – rejecting calls from striking unions protesting demands to cut wages and raise taxes.

Talks to secure up to 120 billion euros ($160 billion) in European Union and IMF aid to … Read more »».

Malaysia’s Petronas to jointly develop oil blocks with Brunei after ownership dispute ended

Malaysia’s Petronas, Brunei to develop oil blocks

KUALA LUMPUR, Malaysia – Malaysian national oil company Petronas said Saturday that it is in talks with Brunei to jointly develop two offshore oil reserves off Borneo island after the two nations ended a long-standing spat over ownership of the areas.
Both Malaysia and Brunei awarded exploration contracts in 2003 …. Source article  : Malaysia’s Petronas to jointly develop oil blocks with Brunei after ownership dispute ended.

Maruti Suzuki April sales soar 30 percent

NEW DELHI – The country’s largest car maker, Maruti Suzuki, Saturday said sales in April rose around 30 percent to 93,058 units, compared to the corresponding month last year.

The company sold 71,748 vehicles in April 2009. Exports were about 13,024 units, a rise of 89 percent, it said in a statement.
The rise in sales …. Read the original article  : here.

Health care bill schooled WH, Dems on need for speed, message control

Lessons from health bill apply to financial reform
WASHINGTON – Bye, bye, Mr. Nice Guy.
After pursuing bipartisan talks for months on health care and deflecting rather than challenging Republican critics, President Barack Obama and his Democratic allies are deploying a more aggressive approach in their attempt to push financial overhaul legislation through …. Source article on Gaea Times at  : Health care bill schooled WH, Dems on need for speed, message control.

Liberals make little headway in challenge to Democrats who voted ‘no’ on health care

Liberals struggle to challenge Dems on health care
WASHINGTON – Liberals who vowed to take revenge against conservative Democrats who opposed President Barack Obama’s health care law have little to show for their anger six months before the midterm elections.
Most of the 34 Democrats who opposed the overhaul legislation that squeaked through …. Source article  : Liberals make little headway in challenge to Democrats who voted ‘no’ on health care.

Use of ACs to be banned in Uttar Pradesh

LUCKNOW – In view of the power crisis in Uttar Pradesh, use of air conditioners in houses, businesses and government offices has been banned in the state between 6 p.m. and 10 p.m., an official said Saturday.

The order is likely to come into effect Sunday and will remain in force till July 15.
The … Original source on Gaea Times at : Use of ACs to be banned in Uttar Pradesh.

Crowds flock to first day of World Expo 2010

SHANGHAI – Crowds poured into the World Expo 2010 site in Shanghai Saturday as the six-month event opened to the public following a spectacular opening ceremony Friday night.

Tens of thousands of people were queuing before the gates opened, many arriving more than one hour early.
The organisers aim to attract an average of around 400,000 … Read more »»».

Frontier Bank Reopens As Union Bank

EVERETT (GaeaTimes.com)-Frontier Bank is finally closing up. The decision came upon as the state regulators went ahead with their final decision which seals the fate of Frontier Bank forever. However the bank shall once again reopen its gates as Union Bank owing to the decision taken by the Federal Deposit Insurance Commission.
As a matter …. Original article on Gaea Times at  : Frontier Bank Reopens As Union Bank.

Subhashini Chandran named 2010 Yale World Fellow

WASHINGTON – Subhashini Chandran, a business and social entrepreneur who owns and manages the largest privately owned tea plantation business in India, has been named of one the 15 Yale World Fellows for 2010.

Chandran, the CEO of the Woodbriar Group and the Managing Director of the Tea Estates India Ltd, has diversified interests in insurance …. Original article on Gaea Times at  : Subhashini Chandran named 2010 Yale World Fellow.

Mexico’s GDP grows 4 pct in 1Q; 3rd straight quarterly expansion as US production recovers

Mexico reports economy expanded 4 percent in 1Q

MEXICO CITY – Mexico says its economy expanded an estimated 4 percent in the first quarter, the third consecutive period of growth following a punishing recession.
The Treasury Department says exports grew significantly in part due to a rebound in U.S. industrial production.
Oil revenues rose 17.7 percent largely due … Read the original article on Gaea Times at : Mexico’s GDP grows 4 pct in 1Q; 3rd straight quarterly expansion as US production recovers.

McNeil recalls children’s over-the-counter liquid cold, allergy meds that don’t meet standards

Children’s liquid cold, allergy medicine recalled

WASHINGTON – More than 40 over-the-counter infant’s and children’s liquid medications are being recalled in the United States and 11 other countries because they don’t meet quality standards.
McNeil Consumer Healthcare issued the recall for children’s versions of Tylenol, Tylenol Plus, Motrin, Zyrtec and Benadryl after consulting with the Food and … Read more : McNeil recalls children’s over-the-counter liquid cold, allergy meds that don’t meet standards.

Regulators shut down 7 banks in Puerto Rico, Mo., Mich., Wash.; brings total to 64 this year

Banks closed in Puerto Rico, Mich., Mo., Wash.

WASHINGTON – Regulators on Friday shut down three banks in Puerto Rico, two in Missouri, and one each in Michigan and Washington, bringing the number of U.S. bank failures this year to 64.
The Federal Deposit Insurance Corp. took over the banks: Westernbank Puerto Rico, based in Mayaguez, with … Read more >>.

Kansas’ April revenue collections miss mark by $65M, complicating budget debate

Kansas revenues miss April estimate by $65M

TOPEKA, Kan. – April’s Kansas revenue collections missed estimates by $65.3 million, officials said Friday, further challenging the Republican-controlled Legislature and Democratic Gov. Mark Parkinson who must balance the state budget.
Individual income taxes were off by about $74.7 million, a reflection of continued weakness in the Kansas job market. …. Original source  : Kansas’ April revenue collections miss mark by $65M, complicating budget debate.

Hawaii civil unions in hands of Gov. Lingle, who hasn’t decided on the issue

Hawaii governor to decide on civil unions
HONOLULU – Whether same-sex civil unions become legal in Hawaii is now up to Republican Gov. Linda Lingle, whose office was flooded Friday with phone calls and e-mails from gay rights and religious groups after the bill won approval in the waning moments of the legislative session.

Lingle has long …. Original article on Gaea Times at  : Hawaii civil unions in hands of Gov. Lingle, who hasn’t decided on the issue.

Conn. Senate passes temporary TARP bonus tax, GOP says bill hurts state’s pro-business image

Conn. Senate votes to tax TARP bonuses
HARTFORD, Conn. – A bill that would impose an extra tax on bonuses paid to Connecticut employees of investment banks and insurers that received federal bailout aid during the economic crisis has passed the state Senate.

The proposal was approved on a 21-14 vote on Friday and now moves to … Read more : Conn. Senate passes temporary TARP bonus tax, GOP says bill hurts state’s pro-business image.

Federal regulators block TierOne’s proposed sale of 32 branches, leaving bank’s future unclear

Feds block TierOne’s proposed sale of 32 branches

OMAHA, Neb. – Federal regulators have blocked TierOne Bank’s proposed sale of 32 branches to Great Western Bank, leaving the future of the Lincoln-based financial institution uncertain.
The federal Office of Thrift Supervision denied the proposal for the bank to sell nearly half its full-service branches in a filing … Original article on : Federal regulators block TierOne’s proposed sale of 32 branches, leaving bank’s future unclear.

With Russell, Campbell taking snaps, quarterback remains focus as Raiders open minicamp

Russell shows up as Raiders open minicamp
ALAMEDA, Calif. – The questions about JaMarcus Russell’s immediate future in Oakland were answered Friday when he took the field for a minicamp with newly acquired Jason Campbell and the rest of his Raiders teammates.

Still unclear is the long-term future for the former No. 1 overall pick.
The team acquired …. Original source  : With Russell, Campbell taking snaps, quarterback remains focus as Raiders open minicamp.

Bankruptcy trustee selects independent examiner to probe 2007 buyout of Tribune Co.

Examiner chosen in Tribune bankruptcy
DOVER, Del. – The trustee in the Tribune Co.’s bankruptcy has appointed an independent examiner to review the 2007 leveraged buyout of the media conglomerate.

The trustee submitted a court filing on Friday appointing Kenneth Klee, a California bankruptcy lawyer and law professor at UCLA, as examiner, subject to court approval.
Klee will … Original source on Gaea Times at : Bankruptcy trustee selects independent examiner to probe 2007 buyout of Tribune Co..

‘Expo passport’ a hot cake at Shanghai World Expo

BEIJING – Visitors at Shanghai World Expo are thronging the stalls of “Expo Passport” to buy the rare document with seals of all participating countries and carry it as a memento of their tour.

In the first two days of the six-month event, the “Expo Passport” has become popular among hundreds of thousands of Expo visitors, … Original article on : ‘Expo passport’ a hot cake at Shanghai World Expo.

German finance minister: ‘Good chance’ of getting German approval for Greek aid by Friday

Germany says ‘good chance’ of approval by Friday

BRUSSELS – Germany’s finance minister says there is a “good chance” that his country will approve a joint eurozone and International Monetary Fund rescue package for Greece by Friday.
Under the plan, the other 15 EU countries that use the euro will extend loans to Greece, as will the …. Original article on Gaea Times at  : German finance minister: ‘Good chance’ of getting German approval for Greek aid by Friday.

Republicans see growing political opportunities as support for Obama, Democrats slides

GOP expands political playing field; Dems slipping

WASHINGTON – Republicans are on offense in scores of House and Senate races as persistent economic woes and lukewarm support for President Barack Obama continue to weaken Democrats’ hold on Congress.
The president and his party are determined to minimize the losses six months before the November elections. But Democrats …. Original source  : Republicans see growing political opportunities as support for Obama, Democrats slides.

Hamas says it can’t pay full salaries for second month in a row, but denies financial crisis

Hamas: Gaza civil servants to get partial salaries

GAZA CITY, Gaza Strip – An official says Gaza’s Hamas government can’t pay its 32,000 employees in full for the second straight month.
Deputy Finance Minister Ismail Mahfouz denied Sunday that the Islamic militants are caught in a cash crunch, but says Hamas is having trouble getting money into …. Source  : Gaea News Network.

Competition Commission Of India Investigates Coal India Deal

NEW DELHI, INDIA (GaeaTimes.com)-Coal India which happens to be run by the State Government has gone ahead to have fall under the scan check of Competition Commission Of India (CCI) which shall be keeping an eye owing to the tie up for mining explosives supply coming form an unknown company which never offered its … Read this article on Gaea Times at : Competition Commission Of India Investigates Coal India Deal.

Israel’s Netanyahu welcomes Arab decision to back indirect peace talks with Palestinians

Israel’s PM welcomes progress toward peace talks

JERUSALEM – Israel’s prime minister on Sunday welcomed Arab nations’ endorsement of indirect, U.S.-brokered peace talks with the Palestinians, saying he is ready to restart negotiations “at any time and at any place.”
Israeli and Palestinian officials said they expect the talks to begin by early next week, and one … Read this article on Gaea Times at : Israel’s Netanyahu welcomes Arab decision to back indirect peace talks with Palestinians.

Greece to cut deficit by 30 bn euro in three years

ATHENS/BRUSSELS – Greece sealed a multi-billion euro bailout deal with the European Union and International Monetary Fund Sunday with a promise to cut its deficit by 30 billion euros over three years.

Warning that the financial plan would require major sacrifices from the Greek people, Prime Minister George Papandreou said he would “do anything to avoid …. Source article  : Greece to cut deficit by 30 bn euro in three years.

Australia proposes 40 percent tax on mining profits booming due to China, India demand

Australia looks at 40 percent tax on mining profit

CANBERRA, Australia – Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday that also would invest in infrastructure to support mining operations and reduce corporate taxes.
The new 40 percent tax on resource profits targets industries that have grown … Read more »».

Greek finance minister outlines deep spending cuts as part of deal with IMF and EU for rescue

Greece outlines harsh spending cuts before bailout

ATHENS, Greece – Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county’s 11 million people for years.
The first ever bailout of one of the 16 … Read more : Greek finance minister outlines deep spending cuts as part of deal with IMF and EU for rescue.

Capturing journey of Indian currency notes

CHANDIGARH – Some bank notes bore the side profile picture of King George V, some were of Rs.10,000 and Rs.5,000 denomination – none of them in circulation any more. There were also valuable tips on how to tell counterfeit currency.

A unique exhibition showcased here by the Reserve Bank of India (RBI) captured the journey …. Source  : Gaea News Network.

EU Commission backs Greek rescue package after calling Athens measures solid and credible

EU Commission backs Greece on aid package
BRUSSELS – EU Commission President Jose Manuel Barroso has backed the Greek rescue package after calling Athens measures “solid and credible.”

Barroso said Sunday he recommends that the aid measures be approved. Eurozone finance ministers meet on the issue later Sunday.
Barroso says such aid will be “decisive” in getting Greece …. Source  : EU Commission backs Greek rescue package after calling Athens measures solid and credible.

Greek finance minister outlines harsh spending cuts as part of deal for rescue package

Greek FM outlines harsh spending cuts
ATHENS, Greece – Greece’s finance minister has outlined harsh spending cuts and tax increases necessary to free up billions of euros in a joint International Monetary Fund and eurozone rescue for the debt-ridden country.

George Papaconstantinou said Sunday the government is faced with a “choice between collapse or salvation” of the … Read : Greek finance minister outlines harsh spending cuts as part of deal for rescue package.

Greek finance minister outlines harsh spending cuts as part of deal for rescue package

Greek FM outlines harsh spending cuts
ATHENS, Greece – Greece’s finance minister has outlined harsh spending cuts and tax increases necessary to free up billions of euros in a joint International Monetary Fund and eurozone rescue for the debt-ridden country.

George Papaconstantinou said Sunday the government is faced with a “choice between collapse or salvation” of the …. Source  : Greek finance minister outlines harsh spending cuts as part of deal for rescue package.

800,000 visitors expected at Beijing auto show

BEIJING – A record 800,000 people are expected to visit this year’s Beijing auto show, authorities said Sunday.

The event had received more than 700,000 visitors as of May 1. As many as 145,900 people visited Saturday, said a statement from the organising committee on its official website Sunday.
The 2010 Beijing International Automotive Exhibition … Original source on Gaea Times at : 800,000 visitors expected at Beijing auto show.

Spanish public sector set to shrink

Madrid, May 2 (IANS/EFE) Spain will cut the number of high-level positions in the public sector and reduce the number of state-run companies, a move that will save the government 16 million euro ($22.4 million) annually.

The public sector reduction announced by the government Friday will involve merging or closing 29 state-run companies – out of … Original source on Gaea Times at : Spanish public sector set to shrink.

Greek prime minister: Agreement reached on deal with IMF and EU for rescue package

Greek leader says agreement reached on aid deal

ATHENS, Greece – Greece has reached agreement with the EU and IMF on an aid package to stave off bankruptcy, and has no choice but to implement new harsh austerity measures, including cuts to civil servants’ salaries and pensions, Prime Minister George Papandreou said.
Papandreou said his government reached … Original article on : Greek prime minister: Agreement reached on deal with IMF and EU for rescue package.

Greek prime minister: Agreement reached on deal with IMF and EU for aid package

Greek leader say agreement reached on deal

ATHENS, Greece – Prime Minister George Papandreou says Greece has reached agreement with the IMF and European Union on a rescue package for the debt-laden country.
His government on Sunday is set to announce harsh spending cuts through 2012, as part of the loan agreement worth some euro120 billion ($159 …. Read the original article  : Greek prime minister: Agreement reached on deal with IMF and EU for aid package.

36,000 Chinese graduates to be hired as village officials

BEIJING – China plans to recruit 36,000 college graduates this year as village officials, authorities said.

A notice issued by the Organization Department of the Communist Party of China (CPC) Central Committee said that from 2008 to 2012 the country will employ 200,000 students-turned village officials, Xinhua news agency reported.
Currently, some 200,000 college graduates are … Original source on Gaea Times at : 36,000 Chinese graduates to be hired as village officials.

Government urged to allow import of second hand capital goods

NEW DELHI – The Federation of Indian Chambers of Commerce and Industry (Ficci) has urged the government to formulate rules for the import of second hand capital goods and make those accessible to the industry.

The import will provide the industry quality equipment and safety to the workers, said the industry lobby in a letter to …. Original article  : Government urged to allow import of second hand capital goods.

Business confidence up, India Inc pegs growth over 7 percent

NEW DELHI – Business confidence in India has improved and a majority of companies across the country expect the economic growth to be more than 7 percent, reveals a survey by the Confederation of Indian Industry (CII).

“Business Confidence Index for April-September 2010-11 improved by 1.5 points to 67.6 as compared to a 7.4 point increase …. Source  : Gaea News Network.

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.

Tongas to go off roads, no second thoughts: MCD

NEW DELHI – The Municipal Corporation of Delhi (MCD) Monday said it will not reconsider the decision to pull out tongas, or horse-driven carriages, off the roads in the national capital.

Tongas, driven by horses, mules or ponies and used to ferry passengers or carry loads in areas of Old Delhi, have been asked to stop …. Source  : Tongas to go off roads, no second thoughts: MCD.

Vodafone launches handset at Rs.809 in Delhi

NEW DELHI – Cellular services provider Vodafone Essar Monday said it has launched here a low-cost handset at Rs.809 to make mobile phones accessible to the rural millions.

The company said it would roll out the phone, Vodafone 150 (VF 150), in other parts of India over the next few days.
“The cost of … Original article on : Vodafone launches handset at Rs.809 in Delhi.

World stock markets climb as Europe sets massive defense package for euro

World markets climb as EU moves to defend euro

SINGAPORE – World stock markets surged Monday as the European Union agreed on a nearly $1 trillion defense package for the embattled euro, hoping to contain global fallout from Greece’s debt crisis and protect the common currency.
As trading opened in Europe, Britain’s FTSE 100 index soared 227.03 … Read the original article on Gaea Times at : World stock markets climb as Europe sets massive defense package for euro.

RBI to publish report on food inflation

KOLKATA – The Reserve bank of India (RBI) will come out with a report on food inflation in a few weeks time, deputy governor of the central bank Subir Gokarn said Monday.

“The paper would study whether the food price rise is due to less monsoon last year or it is due to the impact of [..] Read the original article: here.

Research group: China passenger car sales climb 34 percent in April as surge in demand slows

Growth in China passenger car sales slows in April

SHANGHAI – Growth in China’s passenger car sales slowed to 34 percent in April as a yearlong surge in demand began to falter, a private research group reported Monday.
Sales had jumped 63 percent in March from a year earlier.
The 1.11 million cars sold in April was down … Read the original article on Gaea Times at : Research group: China passenger car sales climb 34 percent in April as surge in demand slows.

US Transportation Secretary says more fines for Toyota are a possibility

US official says more fines for Toyota possible
TOYOTA, Japan – Transportation Secretary Ray LaHood said Monday the U.S. wants to see results from Toyota’s efforts to improve safety, and more fines would be imposed if needed.
“If a fine is required, I think everyone recognizes now that safety is our number one priority, and … Read more »».

Sensex holding firm in afternoon trade

MUMBAI – A benchmark index for Indian equities Monday extended its morning gains and in afternoon trade was ruling 2.59 percent higher than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,799.49 points, was ruling at 17,203.79 points, 434.68 points or 2.59 percent higher than its previous …. Read the original article  : here.

ICT solutions to transform healthcare, bridge India’s rural-urban health divide

New Delhi, May 10 (ANI-Business Wire India): Apollo Hospitals, Asia’s largest health care provider, and Cisco today announced an alliance to help transform health care through information and communications technology (ICT).

The joint initiative will help drive inclusive growth and wellbeing … Read the original article on Gaea Times at : ICT solutions to transform healthcare, bridge India’s rural-urban health divide.

Done with pro sports, some ex-athletes look to political office

Ex-sports pros in races for political office

LAKE OSWEGO, Ore. – Gubernatorial candidate Chris Dudley ducked through the coffeehouse door, and the barista shouted a greeting. Several people waiting in line looked up – way up – and smiled in recognition.
The first thing everybody notices about Dudley is his height.
At 6-foot-11, with a broad body that … Original source on Gaea Times at : Done with pro sports, some ex-athletes look to political office.

Shutdown hits life in Srinagar

SRINAGAR – Normal life was adversely affected by a shutdown called by the bar association here Monday as authorities imposed restrictions in the old city areas, officials said.

The shutdown was called by the association against what it alleged was a “collapse of judiciary, maltreatment meted out to political prisoners, and veiled attempts to change the … Read more : Shutdown hits life in Srinagar.

Farmers say even recession didn’t bring Americans back to farm work, immigration reform needed

Farmers: Immigration reform needed for ag workers

MONTPELIER, Vt. – Even during the recession, foreign workers harvested vegetables, milked cows and picked apples on many U.S. farms, doing work that farmers say Americans don’t want to do.
Most Americans shy away from jobs such as hand-picking tomatoes or cutting cabbage because the work is seasonal, physically tough, …. Read the original article  : Farmers say even recession didn’t bring Americans back to farm work, immigration reform needed.

China reports more double-digit trade growth in April but quick action on currency unlikely

China April imports, exports grow strongly
BEIJING – China posted more double-digit trade growth in April in a positive sign for its recovery, but analysts said Beijing is unlikely to move quickly to let its currency rise because global demand still is too weak.
Imports jumped 49.7 percent over a year earlier to $118.2 billion, … Read : China reports more double-digit trade growth in April but quick action on currency unlikely.

Over 360 Chinese newspapers to be shut down

BEIJING – Over 360 newspapers or periodicals in China – or three percent of the nation’s total publications – would be shut down over the next three years.

A total of 188 newspapers and periodicals were closed in 2009, after China’s General Administration of Press and Publication introduced a market-oriented competition plan in 2008 that …. Source article  : Over 360 Chinese newspapers to be shut down.

Japan PM, hoping to break impasse, gathers Cabinet to discuss US base move

Japan PM meets Cabinet to discuss US Marine base
TOKYO – Japan’s prime minister has approved a draft proposal on the relocation of a major U.S. Marine base, paving the way for Japanese and U.S. officials to formally negotiate the plan later this week, reports said Monday.
Prime Minister Yukio Hatoyama, whose public approval levels …. Original article on Gaea Times at  : Japan PM, hoping to break impasse, gathers Cabinet to discuss US base move.

EU sets up $1 trillion eurozone/IMF defense package to protect euro from disintegration

EU creates $1 trillion package to save euro

BRUSSELS – European foreign ministers and EU leaders are voicing optimism that the $1 trillion plan to prevent its debt crisis from undermining the euro and derailing the global economy was working as hoped.
EU foreign affairs chief Catherine Ashton says the plan is good both for Europe and …. Read the original article  : here.

Stock exchange execs, SEC to discuss conflicting trading rules that may have sparked plunge

Exchange execs, SEC to discuss trading rules

WASHINGTON – Financial regulators have summoned the heads of major exchanges including the New York Stock Exchange Euronext and Nasdaq OMX Group to Washington on Monday to discuss how conflicting trading rules may have contributed to Thursday’s historic stock market plunge.
Securities and Exchange Commission Chairman Mary Schapiro on Friday …. Source  : Stock exchange execs, SEC to discuss conflicting trading rules that may have sparked plunge.

Iran launches first ‘homemade’ car

TEHRAN – Iran is moving towards technical independence with the launch of a new domestic automobile plant that will produce over 150,000 “homemade” cars every year and provide employment to over 23,000 people, President Mahmoud Ahmadinejad has said.

“The Iranian nation has showed the world that it has absolutely no need for foreign assistance, be it …. Read the original article  : Iran launches first ‘homemade’ car.

Sensex rises 1.26 percent at opening bell

MUMBAI – A benchmark index for Indian equities Monday started off the week’s trade in the green, rising 1.26 percent, at opening bell.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,799.49 points, was ruling at 16,980.48 points, 211.37 points or 1.26 percent higher than its previous close at 16,769.11 …. Original article  : Sensex rises 1.26 percent at opening bell.

Study says US cancer costs almost double in 20 years _ but not because of pricey treatments

US cancer costs double in nearly 20 years
ATLANTA – The cost of treating cancer in the United States nearly doubled over the past two decades, but expensive cancer drugs may not be the main reason why, according to a surprising new study.

The study confounds conventional wisdom in several respects. The soaring price of new cancer …. Original article on Gaea Times at  : Study says US cancer costs almost double in 20 years _ but not because of pricey treatments.

Money Market Operations as on May 07, 2010

…. Source article on Gaea Times at  : Money Market Operations as on May 07, 2010.

India tops in originating spam, phishing in Asia: Report

BANGALORE – Hackers have kept pace with India’s leap into the internet world, making the country number one in Asia for originating the highest number of spams and phishing, says a study by global security solutions provider Symantec.

“India ranked first in the Asia-Pacific and Japan region and third highest in the world as the originating …. Source  : Gaea News Network.

Texans owner says Cushing had “issue” with league; AP to take revote on rookie award

Texans owner: More info needed on suspensions

NEW YORK – Houston Texans owner Robert McNair says he’d like more information to be provided to the team when a player has a league suspension pending.
McNair said Monday he knew during the 2009 season that linebacker Brian Cushing had “an issue” with the NFL. McNair was given no … Read more >>>.

China inflation rises as food costs jump; Chinese stocks fall on fears of credit clampdown

China inflation rises as housing, food costs jump

BEIJING – China’s inflation accelerated in April, triggering a selloff in Chinese stocks Tuesday on fears of overheating and a possible credit clampdown by Beijing that might slow the country’s economic recovery.
April consumer prices rose 2.8 percent from a year earlier, below Beijing’s full-year target of 3 percent … Read more »»».

German government approves its share of $1 trillion rescue package to bolster the euro

German govt approves share of euro rescue package

BERLIN – The German government says it has approved the country’s contribution to the $1 trillion rescue package for the euro.
A government official told The Associated Press on Tuesday that the cabinet adopted plans for legislation promising German guarantees for at least euro123 billion ($157 billion) in loans …. Read the original article  : German government approves its share of $1 trillion rescue package to bolster the euro.

World stocks fall as rally after EU debt bailout fizzles out

World stocks fall as EU bailout rally peters out

SINGAPORE – World stocks fell Tuesday as a relief rally triggered by a $1 trillion plan to contain Europe’s debt crisis fizzled out.
Europe opened lower and most Asian markets couldn’t sustain gains for a second day running after initially trading higher following Monday’s broad advance.
As elation faded … Read : World stocks fall as rally after EU debt bailout fizzles out.

UAE to host aviation search and rescue forum

Abu Dhabi, May 11 (IANS/WAM) The United Arab Emirates (UAE) will host the International Civil Aviation Organisation (ICAO) Global Civil Aviation Search and Rescue Forum here June 21-22.

The UAE General Civil Aviation Authority (GCAA) will host the forum in cooperation with the ICAO.
“The outcomes of this international civil aviation search and rescue forum will … Original article on : UAE to host aviation search and rescue forum.

Hitachi narrows annual loss from record red ink on cost cuts, sees first profit in 5 years

Hitachi trims annual loss, sees return to profit

TOKYO – Hitachi Ltd., which makes everything from home appliances to nuclear reactors, narrowed its annual loss from record red ink the previous year and forecast it would return to profit for the first time in five years.
The Japanese manufacturer said Tuesday its net loss was 106.9 billion … Read the original article on Gaea Times at : Hitachi narrows annual loss from record red ink on cost cuts, sees first profit in 5 years.

Liberal Democrat leader Nick Clegg says anxious to resolve Britain’s political impasse

Britain: Clegg ‘impatient’ to resolve impasse

LONDON – Liberal Democrat leader Nick Clegg says he is anxious to resolve Britain’s political impasse and hopes his party can make an announcement on its decision as quickly as possible.
Speaking outside his London home on Tuesday, Clegg said he is “as impatient as anyone else to resolve matters one [..] Read the original article: here.

Spain closes airports in Canary Islands, Seville and Jerez because of volcanic ash

Volcanic ash closes 7 Spanish airports
MADRID – Spanish authorities say seven airports are closed because of ash from the volcano in Iceland.

The Spanish National Airport Authority says airports in the Canary islands of Tenerife, La Palma and La Gomera are closed since 5 a.m. (0300 GMT, 11 p.m. EDT Monday) Tuesday, likely affecting dozens of … Read more >>.

Oil falls to near $76 a barrel in Asia as euro drops day after $1 trillion bailout plan

Oil falls to near $76 a barrel as traders eye euro

SINGAPORE – Oil prices fell to near $76 a barrel Tuesday in Asia after investor euphoria over a $1 trillion European debt bailout evaporated and the euro weakened.
Benchmark crude for June delivery was down 63 cents to $76.17 a barrel at late afternoon Singapore time … Read more >>.

Britain’s Brown waited a decade for a chance to lead, but says he’ll go for the country’s good

Brown waited a decade for chance to lead
LONDON – Gordon Brown has been Britain’s prime minister for nearly three years, but never really settled into the job he’d long coveted.

Before Brown moved into 10 Downing Street, he was both Tony Blair’s loyal treasury chief and the discontented shadow who lurked behind him. In the end, … Read more »»».

Kan. House approves bill raising state’s sales tax to bolster budget, sending it to governor

Kan. House passes sales tax hike, sends it to gov.

TOPEKA, Kan. – An increase in Kansas’ sales tax cleared the Legislature early Tuesday morning, a change that will force consumers to pay more for groceries and other items to protect public schools and government services from cuts.
The House voted 64-61 for a bill boosting the … Read more >>.

Toyota cruises back into the black in latest quarter with $1.2 bln profit amid sales recovery

Toyota quarterly profit $1.2 bln as sales recover

TOKYO – Toyota cruised back to profit in the latest quarter as the world’s top carmaker cut costs and hitched a ride on the global auto sales recovery while fighting to salvage its reputation for quality.
Toyota Motor Corp. said Tuesday that January-March profit totaled 112 billion yen ($1.2 …. Read the original article  : here.

Emami plans big foray into Africa in cash crops, power

KOLKATA – Indian personal care and ayurvedic medicines major, the $165- million Emami group, is making a big foray into Africa not just in their traditional lines of businesses but also in contract farming and power generation, a top official has said.

“In Ethiopia, Emami Biotech has been allotted 100,000 acres of land by the Investment … Read : Emami plans big foray into Africa in cash crops, power.

Toyota reports profit for January-March quarter, marking reversal from deep losses a year ago

Toyota reports profit for January-March quarter

TOKYO – Toyota cruised back to profit in the latest quarter as the world’s top carmaker cut costs and hitched a ride on the global auto sales recovery while fighting to salvage its reputation for quality.
Toyota Motor Corp. said Tuesday that January-March profit totaled 112 billion yen ($1.2 billion) compared … Read this article on Gaea Times at : Toyota reports profit for January-March quarter, marking reversal from deep losses a year ago.

Google’s Android outsells iPhone, threatens BlackBerry

TORONTO – Though the Canadian icon BlackBerry continues to maintain its lead in the US smart phone market, handsets with Google’s Android operating system may upset it soon, says a report released Monday.

In fact, the devices with the Google operating system have left Apple’s iPhone behind in the first quarterly sales, says the report.
Prepared …. Source  : Gaea News Network.

Asian stocks fall as rally after EU debt bailout fizzles out

Asian stocks fall as EU bailout rally peters out

SINGAPORE – Asian stocks fell Tuesday as a relief rally triggered by a $1 trillion plan to contain Europe’s debt crisis fizzled out.
Most of the region’s markets opened higher following a broad advance in Europe and on Wall Street but couldn’t sustain gains for a second day …. Source article  : Asian stocks fall as rally after EU debt bailout fizzles out.

With narrower losses last year, Sony in better shape ahead of big 3-D push

Sony shaves losses as it gears up for 3-D push

TOKYO – Japanese electronics and entertainment company Sony Corp. reports earnings for the fiscal year ended March 31 on Thursday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: Sony’s restructuring and cost cuts are paying off, with the company … Read more »»».

Brazil to promote biofuel use in aviation

Sao Paulo, May 11 (IANS/EFE) An alliance of aircraft manufacturers in Brazil, the Brazilian Alliance for Aviation Biofuels (Abraba), will promote “development and certification of sustainable biofuel” for use in air transport.

The 10-member group arrived at the decision based on cost of fuel and protecting the environment, aircraft manufacturer Embraer, one of the top aircraft … Read this article on Gaea Times at : Brazil to promote biofuel use in aviation.

Bill raising state’s sales tax to bolster budget remains in limbo in Kansas House

Sales tax increase in limbo in Kansas House

TOPEKA, Kan. – A state sales tax increase to bolster the state budget remains in limbo in the Kansas House.
The chamber held its voting open late Monday night and members switched their votes so that both supporters and opponents were prevailing at different times.
Results often change during voting, …. Original source  : Bill raising state’s sales tax to bolster budget remains in limbo in Kansas House.

Sensex 54 points up in volatile, range-bound trade

MUMBAI – A benchmark index for Indian equities Wednesday closed a tad higher in volatile but range-bound trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,141.53 points, closed at 17,195.81 points, 54.28 points or 0.32 percent up from its previous close.
At the National Stock Exchange (NSE), the … Original article on : Sensex 54 points up in volatile, range-bound trade.

David Cameron quietly goes to work on first full day as Britain’s prime minister

UK’s new prime minister embarks on first day

LONDON – British Prime Minister David Cameron has quietly begun his first full day at work, arriving at his new home No. 10 Downing Street but making no immediate announcements about the shape of his government.
Cameron, Britain’s youngest prime minister in two centuries, has a heavy agenda on …. Source article  : David Cameron quietly goes to work on first full day as Britain’s prime minister.

China’s ZTE wants to prove itself in India

NEW DELHI – ZTE India, the wholly-owned subsidiary of Chinese telecom equipment maker ZTE Corp, is looking at various options, from setting up a manufacturing plant to listing on the stock markets, to prove itself an “Indian company” and abide by all Indian security norms.

“We believe we are an Indian company with Indians in … Original article on : China’s ZTE wants to prove itself in India.

Home ministry to probe Chandigarh IT park land deals

CHANDIGARH – Controversial land deals worth billions of rupees at the Chandigarh Information Technology park have come under the scanner of the central ministry of home affairs.

The ministry has sent here a former IAS officer, Arun Ramanathan, to examine the land records and the deals.
Ramanathan will hold a three-day inquiry starting Wednesday and … Read the original article on Gaea Times at : Home ministry to probe Chandigarh IT park land deals.

Boeing gets equipment from BEL for Indian Navy aircraft

NEW DELHI – US aerospace major Boeing announced Wednesday that it has received key communications technology for the Indian Navy’s P-8I long-range maritime reconnaissance and anti-submarine warfare aircraft from Bharat Electronics Limited (BEL) a month ahead of schedule.

BEL delivered the Indian-designed Data Link II, a communications system that will enable exchange of tactical data and …. Source  : Boeing gets equipment from BEL for Indian Navy aircraft.

Spanish prime minister says civil servant salaries to be cut in deficit-reduction plan

Spain outlines plan to cut deficit
MADRID – Spain will cut civil servants’ salaries this year as part of a deficit-reduction plan to ease worries the country will slide into a debt crisis like that of Greece, the prime minister said Wednesday.

Jose Luis Rodriguez Zapatero told Parliament the average 5 percent reduction starting in June is …. Original article on Gaea Times at  : Spanish prime minister says civil servant salaries to be cut in deficit-reduction plan.

Shristi Infra to invest Rs.2,000 crore in three states

KOLKATA – Shristi Infrastructure Development Corporation said Wednesday it would invest Rs.2,000 crore over the next three years in seven smaller cities in three states.

The money would be used to build integrated townships, healthcare facilities, hospitality and sports facilities, retail malls, logistics hubs and commercial and residential complexes in West Bengal, Tripura and Rajasthan, company …. Original article on Gaea Times at  : Shristi Infra to invest Rs.2,000 crore in three states.

Anil Ambani calls on prime minister

NEW DELHI – Industrialist Anil Ambani called on Prime Minister Manmohan Singh here Wednesday, just days after the Supreme Court had ordered re-negotiation of the Krishna-Godavari gas supply pact with his older brother’s Reliance Industries.

The closed-door one-on-one meeting lasted around an hour.
Ambani declined comment on the purpose of the meeting and senior officials …. Source  : Gaea News Network.

Gold business flourishes in Gujarat ahead of Akshaya Tritiya

Ahmedabad, May 12 (ANI): Gold business flourishes in Gujarat ahead of Hindu festival Akshaya Tritiya, which would be celebrated across the country, on May 16.

Prices of gold are substantially higher this year, as compared to last year’s Akshaya Tritiya when gold … Original source on Gaea Times at : Gold business flourishes in Gujarat ahead of Akshaya Tritiya.

Vedanta Resources’ head abandons talk after Survival announces protest

London, May 12 (ANI): FTSE 100 mining company Vedanta Resources’ billionaire owner Anil Agarwal has pulled out of a London conference, where he was due to speak, after Survival International announced plans to demonstrate outside.

According …. Read the original article  : Vedanta Resources’ head abandons talk after Survival announces protest.

Asian stocks mixed amid concerns global economic growth may slow; Europe gains

Asia stocks mixed amid slowdown fear; Europe gains

SINGAPORE – Asian stock markets were mixed Wednesday amid concerns global economic growth will slow later this year as government stimulus spending winds down. European markets opened higher.
Japan’s benchmark Nikkei 225 stock average shed 17.07 points, or 0.2 percent, to 10,394.03, reversing gains from the morning session. Hong …. Original article on Gaea Times at  : Asian stocks mixed amid concerns global economic growth may slow; Europe gains.

Managers’ jobs at risk even after corporate restructuring

WASHINGTON – Managers who evade the axe when companies restructure can still be on a shakier ground, says a new study by the University of Illinois.

Corporate streamlining shifts the balance of workplace power toward firms, which use the added muscle to impose company-friendly wage and employment standards, it said.
“For the majority of managers, …. Source article on Gaea Times at  : Managers’ jobs at risk even after corporate restructuring.

Asian stocks fall, reversing early gains, amid concerns global economic growth may slow

Asian stocks fall on global slowdown concerns

SINGAPORE – Major Asian stock markets fell Wednesday amid concerns global economic growth will slow later this year as government stimulus spending winds down.
Japan’s benchmark Nikkei 225 stock average shed 28.90 points, or 0.3 percent, to 10,382.20, reversing gains from the morning session. Hong Kong’s Hang Seng index dropped …. Original article on Gaea Times at  : Asian stocks fall, reversing early gains, amid concerns global economic growth may slow.

High inflation a worry, but on the decline: Pranab

NEW DELHI – Finance Minister Pranab Mukherjee Wednesday voiced concern about high inflation but said it would ease due to a gradual fall in prices of food items.

“I am concerned about prevailing high rate of inflation,” said Mukherjee, addressing a conference organised by an industry lobby.
“The CPI (consumer price index) inflation is high … Original article on : High inflation a worry, but on the decline: Pranab.

Nuclear deal with Kazakhstan soon: Krishna

ASTANA – India and Kazakhstan will soon finalise a civilian nuclear agreement, which will facilitate Indian investments in mining and supply of uranium from the central Asian nation, External Affairs Minister S.M. Krishna said here Wednesday.

“I am confident that an Inter-governmental Agreement on Civilian Nuclear Energy cooperation will be finalized soon,” Krishna said at a … Read : Nuclear deal with Kazakhstan soon: Krishna.

NTPC Chhattisgarh plant to generate 660 MW by October

RAIPUR – Power utility NTPC will generate another 660 MW by October this year, commissioning a new unit of its coal-fired power plant at Sipat in Chhattisgarh, a company official said Wednesday.

Two units of the Sipat plant in the state’s Bilaspur district produce 1,000 MW. As part of its expansion plan, the company plans to … Read : NTPC Chhattisgarh plant to generate 660 MW by October.

Median home prices rise in nearly 60 percent of US metropolitan areas in first quarter

Median home prices up in 1Q
LOS ANGELES – Home prices rose in nearly 60 percent of U.S. cities in the first quarter of this year, as the housing market started to stabilize thanks to billions of dollars in federal spending.

The median sales price for previously occupied homes rose in 91 out of 152 metropolitan areas … Read : Median home prices rise in nearly 60 percent of US metropolitan areas in first quarter.

Ford shareholder meeting comes after big improvement from 2009, but big debt raises questions

For Ford shareholders, what a change from 2009

WASHINGTON – During the depths of the auto industry’s collapse a year ago, Ford told shareholders at its annual meeting that they might have to wait until 2011 before the company started making money again.
It turns out they didn’t have to wait that long.
Thanks to well-reviewed cars and …. Source  : Ford shareholder meeting comes after big improvement from 2009, but big debt raises questions.

Restructuring puts remaining workers at risk too

Washington, May 12 (ANI): At the time of restructuring, even workers who escape layoffs, end up being at risk, a new study by a University of Illinois labor expert found.

John Dencker, a professor of labor and employment relations, said that corporate streamlining shifts the balance of workplace power toward … Read the original article on Gaea Times at : Restructuring puts remaining workers at risk too.

Nevada casinos’ winnings down slightly in March; state’s tax revenues increase about 7 percent

Nevada casinos’ winnings drop slightly in March

CARSON CITY, Nev. – Nevada casinos won a little more than $912 million from gamblers in March, a slight decline from the same month a year ago but a sign that the state’s main industry may be leveling off after two years of steep drops brought on by the …. Source  : Gaea News Network.

Portland mayor fires police chief, says he wants to put bureau on ‘more proactive reform path’

Portland police chief fired following settlement

PORTLAND, Ore. – Portland Mayor Sam Adams fired the city’s police chief Wednesday, a day after the city agreed to pay $1.6 million to settle a lawsuit over the death of a mentally ill man in police custody.
Adams said at a City Hall news conference the factors that went into …. Source  : Portland mayor fires police chief, says he wants to put bureau on ‘more proactive reform path’.

Emirates Group posts 248 percent increase in profits

Dubai, May 13 (IANS/WAM) The Emirates Group’s net profits increased 248 percent to 4.2 billion UAE dirhams ($1.1 billion) during the financial year 2009-10.

The figures were revealed in its 2009-10 annual report released Wednesday. The Emirates Group comprises Emirates Airline, Dnata and their subsidiary firms.
Group revenue remained stable at 45.4 billion dirhams, reflecting …. Source  : Emirates Group posts 248 percent increase in profits.

Morgan Stanley, IBM, Intel, Electronic Arts among big market movers Wednesday

Morgan Stanley, IBM, Intel are active movers

NEW YORK – Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Morgan Stanley, down 58 cents to $27.80
The investment bank said it has no knowledge of a reported federal investigation into whether it misled investors over its role in mortgage … Read more >>.

UAE, Kazakhstan seek energy cooperation

Astana, May 13 (IANS/WAM) Kazakhstan and the United Arab Emirates (UAE) will form a committee to explore ways to boost bilateral cooperation, mainly in the energy sector.

The decision was taken at a joint committee meeting of the two countries in Astana Wednesday.
The meeting was held under the joint chairmanship of UAE Minister …. Original article on Gaea Times at  : UAE, Kazakhstan seek energy cooperation.

Daily Journal profit flat in 1st quarter as drop in expenses offsets revenue decline

Daily Journal profit flat in 1st quarter
SAN FRANCISCO – Daily Journal Corp., which publishes newspapers in California and Arizona, reported Wednesday that its net income was essentially flat in first three months of the year as a decline in expenses helped offset a drop in revenue.

According to a regulatory filing from the Los Angeles-based company, … Original article on : Daily Journal profit flat in 1st quarter as drop in expenses offsets revenue decline.

Americans’ spending falls in April from March; figures underscore uncertain economic picture

Report: April consumer spending falls from March

NEW YORK – Americans pulled back from the malls in April, spending less in retail outlets than they did in March, figures released Thursday show.
The lull comes on the heels of three straight month-to-month gains in the retail spending figures, released by MasterCard Advisors’ SpendingPulse.
April’s business was hurt by … Read : Americans’ spending falls in April from March; figures underscore uncertain economic picture.

HCC hives off IT division into a separate arm

MUMBAI – Ajit Gulabchand-promoted Hindustan Construction Company (HCC) has hived off its information technology division into a separate arm, Highbar Technologies, to tap the Rs.2,000 crore business in the infrastructure sector.

“As a business, our aim is to be a key player in the domestic untapped market for IT-enabled solutions for the infrastructure industry which currently … Read the original article on Gaea Times at : HCC hives off IT division into a separate arm.

Recalls: remote-controlled helicopters, snowboard boot bindings

Recalls: remote-controlled helicopters
The following recalls have been announced:

- About 46,000 remote-controlled helicopters, made in China and distributed by Imagine Nation Books Ltd./Books Are Fun, of Boulder, Colo. The rechargeable battery inside the helicopters can overheat, igniting the helicopter and posing fire and burn hazards. The company received nearly 50 reports of the helicopters overheating, including …. Read the original article  : here.

Food inflation creeps up after two weeks of decline

NEW DELHI – India’s annual food inflation rose 16.44 percent for the week ended May 1, reversing two consecutive weeks of decline, official data released Thursday showed.

The food inflation stood at 16.04 percent the previous week having declined from 16.61 percent during the week-ended April 17 against 17.65 percent of week-ended April 10.
Data on [..] Read the original article: here.

WNBA’s Shock sell out inaugural game in Tulsa; standing-room only tickets available

WNBA’s Shock sell out inaugural game in Tulsa

TULSA, Okla. – The Tulsa Shock have sold out all tickets for the WNBA franchise’s inaugural game in its new home.
The Shock will use only the lower bowl of the BOK Center, meaning they have sold out nearly 7,500 seats for Saturday’s opener against the Minnesota Lynx. Between …. Source  : WNBA’s Shock sell out inaugural game in Tulsa; standing-room only tickets available.

LA City Council OKs boycott of Arizona business to protest new illegal immigration law

LA OKs Arizona boycott over tough immigration law

LOS ANGELES – The City Council voted Wednesday to boycott Arizona businesses, making Los Angeles the largest city to take such action to protest the state’s tough new law targeting illegal immigration.
The 13-1 vote, which came after emotional discussion in which several council members recounted their immigrant ancestors, …. Source article  : LA City Council OKs boycott of Arizona business to protest new illegal immigration law.

Con-way offering 4.3 million common shares to raise funds for operations, capital spending

Con-way to sell 4.3 million shares of stock

SAN MATEO, Calif. – Trucking company Con-way Inc. on Wednesday said it will sell 4.3 million shares of common stock.
The company plans to grant the underwriters a 30-day option to purchase up to 645,000 additional shares to cover any over-allotments.
Net proceeds will be used for general corporate purposes …. Source article  : Con-way offering 4.3 million common shares to raise funds for operations, capital spending.

Cincinnati Bell to buy Texas-bsaed data center operator CyrusOne for $525 million cash

Cincinnati Bell buys data center operator CyrusOne

CINCINNATI – Cincinnati Bell Inc. on Wednesday said it will expand its data center services by buying Texas-based CyrusOne in a $525 million cash deal with private equity firm Abry Partners.
CyrusOne operates seven data centers in Houston, Dallas and Austin. It will become part of Cincinnati Bell’s technology solutions … Read : Cincinnati Bell to buy Texas-bsaed data center operator CyrusOne for $525 million cash.

Foreclosure filings sink 2 percent from April 2009, first yearly decline in 5 years

Foreclosures down 2 percent from last year

WASHINGTON – Millions of Americans are still likely to lose their homes in the coming years, but the foreclosure crisis is finally showing signs of subsiding.
The number of households facing foreclosure in April fell 2 percent from a year ago, the first annual decline in five years, RealtyTrac Inc. …. Original article on Gaea Times at  : Foreclosure filings sink 2 percent from April 2009, first yearly decline in 5 years.

Lions Gate shareholders vote in favor of voided ‘poison pill’ plan

Lions Gate shareholders OK voided ‘poison pill’

LOS ANGELES – Lions Gate Entertainment Corp. said Wednesday that 56 percent of its shareholders backed a plan that would block billionaire investor Carl Icahn’s buyout bid, even though Canadian regulators have rendered the plan ineffective.
The niche movie studio said about 44 percent voted against the shareholders rights plan. … Read this article on Gaea Times at : Lions Gate shareholders vote in favor of voided ‘poison pill’ plan.

PSS World 4th-qtr profit climbs, but results miss estimates; shares fall

PSS World Medical 4Q profit climbs 20 percent

JACKSONVILLE, Fla. – Medical products distributor PSS World Medical Inc. said Wednesday that its fiscal fourth-quarter profit rose 20 percent because the latest quarter had more selling days than the same period last year.
For the period ended April 2, PSS World’s profit grew to $16.5 million, or 28 …. Source  : Gaea News Network.

Portland mayor fires police chief 1 day after city settles suit over man who died in custody

Portland mayor fires police chief
PORTLAND, Ore. – Portland Mayor Sam Adams fired the city’s police chief Wednesday, a day after the city agreed to pay $1.6 million to settle a lawsuit over the death of a mentally ill man in police custody.

Adams said at a City Hall press conference the factors that went into his … Original source on Gaea Times at : Portland mayor fires police chief 1 day after city settles suit over man who died in custody.

Northrop Grumman awarded $186.6 million contract from Navy for design of aircraft carrier

Northrop gets $187M Navy carrier design contract

NEWPORT NEWS, Va. – Northrop Grumman Corp. on Wednesday said it was awarded a $186.6 million contract modification from the U.S. Navy to continue engineering and design for the USS Gerald R. Ford, a nuclear powered aircraft carrier now under construction.
The official kickoff ceremony for construction of the $7 … Original source on Gaea Times at : Northrop Grumman awarded $186.6 million contract from Navy for design of aircraft carrier.

Summary Box: Gold, silver rise as traders remain skittish about long-term health of currencies

Summary Box: Gold, silver reach new records

GOLD RUSH: Gold set an all-time high Wednesday, climbing as high as $1,249.20 an ounce, nearly $22 above the previous record of $1,227.50 set Dec. 3.
SILVER RECORD: Silver also set a new record. It touched $19.735 an ounce.
CURRENCY WORRIES: Gold and silver rallied in recent days because investors are … Read more : Summary Box: Gold, silver rise as traders remain skittish about long-term health of currencies.

Nitesh Estates: Hopes Held High

BANGALORE, INDIA (GaeaTimes.com)- Nitesh Estates which happens to be a major developer based out of Bangalore has gone ahead to have list down it’s issue price at the rate of Rs. 54 per share. Reportedly, Nitesh Estates and it’s issue prices gains ground with the rates as per the stands on NSE (National Stock … Read the original article on Gaea Times at : Nitesh Estates: Hopes Held High.

Diplomats: Iran sets up new equipment to improve efficiency of enrichment facility

Diplomats: Iran expands enrichment facility

VIENNA – Diplomats say that Iran has set up new equipment aimed at improving its ability to enrich uranium to higher levels.
They say that the equipment – an extra set of uranium enriching centrifuges – is not yet on line. But the diplomats add that if the centrifuges become operational they …. Source  : Diplomats: Iran sets up new equipment to improve efficiency of enrichment facility.

IIP Data Saves Buyers

MUMBAI, INDIA (GaeaTimes.com)- The Wednesday market is turning out to be fruitful for the Indian companies with the trading reports banking high on IIP Data. The leaders in the market are IT stocks and healthcare. Quite unexpectedly, all stocks for Telecom have witnessed a heavy downfall and all are reported to be treading really low …. Source  : Gaea News Network.

Oil prices may rise to $100 a barrel: Mukesh Ambani

MUMBAI – Crude oil prices may soon rise to $100 a barrel due to increasing costs of exploration and production, and businesses should be prepared for higher energy prices than what they were used to in the last 20 years, Reliance Industries chairman Mukesh Ambani said Friday.

In Asia, crude oil prices have fallen below $74 … Read more >>>.

world stocks fall as US jobless figures, Europe austerity measures prick growth hopes

World stocks down as US, Europe prick growth hopes

SINGAPORE – World stock markets mostly fell Friday as Europe’s fiscal austerity measures and stubbornly high unemployment in the U.S. undermined faith in the global economic recovery.
Investors initially cheered Monday’s announcement of a $1 trillion debt bailout package from the European Union and International Monetary Fund as … Original article on : world stocks fall as US jobless figures, Europe austerity measures prick growth hopes.

Wineries worry bill distributors pushing in Congress will limit direct shipments to consumers

Bill in Congress could limit direct wine shipments

LOWDEN, Wash. – Try to be a wine connoisseur in Dickinson, N.D.
Gordon and Sandee Schnell had a hard time until the state changed its rules in 2001 and allowed wineries to buy permits to ship directly to residents – one case of wine per person, per month.
But now … Original article on : Wineries worry bill distributors pushing in Congress will limit direct shipments to consumers.

Lockheed Martin F-35 programme awarded for ‘cutting-edge design’

NEW DELHI – The Lockheed Martin F-35 Lightning II combat jet programme has been recognised for its “cutting-edge design and technology” with an award from the American Institute of Aeronautics and Astronautics (AIAA).

The AIAA Foundation board of trustees presented the award Thursday during the 2010 AIAA Aerospace Spotlight Awards Gala in Washington. AIAA is the …. Original source  : Lockheed Martin F-35 programme awarded for ‘cutting-edge design’.

Restriction of foreign IT professionals can hurt US businesses: Study

WASHINGTON – A study has shown that if skilled foreign IT professionals were restricted from working in the United States, it would actually affect American workers, as it would lead firms into hiring IT pros to work outside the US.

According to the Management … Read more : Restriction of foreign IT professionals can hurt US businesses: Study.

ECB’s Trichet dismisses suggestion that government bond purchases will stoke inflation

ECB’s Trichet dismisses inflation fears
BERLIN – The president of the European Central Bank has dismissed suggestions that its decision to buy government bonds might stoke inflation and urged nations to implement programs that will put them in a “sound fiscal situation.”

Jean-Claude Trichet said in an interview with the German daily Handelsblatt, published Friday, that risks … Original article on : ECB’s Trichet dismisses suggestion that government bond purchases will stoke inflation.

Annual inflation dips to 9.59 percent in April

NEW DELHI – India’s annual rate of inflation, based on the wholesale price index, eased to 9.59 percent in April from 9.9 percent a month ago, official data showed Friday.

The annual inflation rate was 1.31 percent in April 2009.
Data released by the commerce ministry showed prices of food articles jumped 16.87 percent last … Original source on Gaea Times at : Annual inflation dips to 9.59 percent in April.

Annual inflation dips to 9.59 percent in April

NEW DELHI – India’s annual rate of inflation, based on the wholesale price index, eased to 9.59 percent in April from 9.9 percent a month ago, official data showed Friday.

The annual inflation rate was 1.31 percent in April 2009.
Data released by the commerce ministry showed prices of food articles jumped 16.87 percent last …. Source article  : Annual inflation dips to 9.59 percent in April.

SKorean says economy can withstand NKorea tensions in G-20 year

SKorea: Economy can withstand NKorea tensions

GWACHEON, South Korea – South Korea’s economy is strong enough to withstand ongoing tensions with rival North Korea and a recent ratings upgrade proves the point, a top Seoul finance mandarin says, as his country prepares to host high-profile meetings on the global financial system.
The country has made a robust … Read this article on Gaea Times at : SKorean says economy can withstand NKorea tensions in G-20 year.

EADS 1Q net profit falls 39 percent as Airbus struggles with ‘challenges’ of A380

EADS 1Q net profit down 39 percent
PARIS – Airbus parent company EADS NV on Friday reported that first quarter net profit fell 39 percent as its planemaker unit struggled with the “challenges” of its A380 superjumbo program.

Paris-based European Aeronautic Defence & Space Co. said that net profit in the January to March period fell to … Read more : EADS 1Q net profit falls 39 percent as Airbus struggles with ‘challenges’ of A380.

Return of Gekko: Greed is still good as Cannes festival premieres new ‘Wall Street’

Greed still good as Cannes shows new ‘Wall Street’

CANNES, France – Gordon Gekko is out of prison and out of money. He’s not quite through with Wall Street, though.
Reuniting with director Oliver Stone, Michael Douglas reprises his Academy Award-winning role as financial viper Gekko in “Wall Street: Money Never Sleeps,” whose premiere Friday at the … Read more >>>.

Return of Gekko: Greed is still good as Cannes festival premieres new ‘Wall Street’

Greed still good as Cannes shows new ‘Wall Street’

CANNES, France – Gordon Gekko is out of prison and out of money. He’s not quite through with Wall Street, though.
Reuniting with director Oliver Stone, Michael Douglas reprises his Academy Award-winning role as financial viper Gekko in “Wall Street: Money Never Sleeps,” whose premiere Friday at the … Original article on : Return of Gekko: Greed is still good as Cannes festival premieres new ‘Wall Street’.

Toyota to halt output at 1 of its Thai plants as part of previously flagged restructuring

Toyota to halt output at 1 of its Thai plants

TOKYO – Toyota said Friday it will halt production at one of its four auto plants in Thailand and transfer the workers to the other factories in a move the carmaker says is unrelated to political unrest in the Southeast Asian country.
Toyota Motor Corp. spokesman Takanori … Read : Toyota to halt output at 1 of its Thai plants as part of previously flagged restructuring.

Asian stocks fall as US jobless figures, Europe austerity measures prick growth hopes

Asian stocks down as US, Europe prick growth hopes

SINGAPORE – Asian stock markets mostly fell Friday as Europe’s fiscal austerity measures and stubbornly high unemployment in the U.S. undermined faith in the global economic recovery.
Investors initially cheered Monday’s announcement of a $1 trillion debt bailout package from the European Union and International Monetary Fund as …. Read the original article  : here.

EADS first quarter net profit falls 39 percent as Airbus struggles with ‘challenges’ of A380

EADS Q1 net down 39 percent
PARIS – Airbus parent company EADS NV on Friday reported that first quarter net profit fell 39 percent as its planemaker unit struggled with the “challenges” of producing its A380 superjumbo.

Paris-based European Aeronautic Defence & Space Co. said that net profit in the January to March period fell to euro103 …. Original article  : EADS first quarter net profit falls 39 percent as Airbus struggles with ‘challenges’ of A380.

Mendocino County expects about 6,000 acres of vineyards to be quarantined after moth found

Mendocino County expects quarantine over moth

UKIAH, Calif. – A Mendocino County agriculture official says nearly 6,000 acres of vineyards are likely to be placed under quarantine after the European grapevine moth was discovered near Ukiah.
Officials say 30 moths were found near a vineyard north of Ukiah, while a single moth was found south of Ukiah.
The …. Source  : Mendocino County expects about 6,000 acres of vineyards to be quarantined after moth found.

Mendocino County expects about 6,000 acres of vineyards to be quarantined after moth found

Mendocino County expects quarantine over moth

UKIAH, Calif. – A Mendocino County agriculture official says nearly 6,000 acres of vineyards are likely to be placed under quarantine after the European grapevine moth was discovered near Ukiah.
Officials say 30 moths were found near a vineyard north of Ukiah, while a single moth was found south of Ukiah.
The …. Source  : Gaea News Network.

Australia creating 1,100 jobs every day

MELBOURNE – Registering a record growth in its employment rate, Australia is creating 1,100 full-time jobs each day in various sectors, according to latest data.

The country piled on an extra 37,500 full-time jobs in April, following on from 37,400 in March which was revised up from an earlier estimate of 30,100, said the employment figures … Original source on Gaea Times at : Australia creating 1,100 jobs every day.

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.

Brazil’s president seeks nuclear compromise with Iranian leaders, as US pushes for sanctions

Brazil’s leader seeks nuclear compromise with Iran

TEHRAN, Iran – Brazil’s president met with Iranian leaders Sunday to try to broker a compromise in the international standoff over Tehran’s nuclear program, even as the U.S. says new sanctions are the only way to force Iran’s cooperation.
Luis Inacio Lula da Silva is trying to use Brazil’s friendly …. Read the original article  : here.

Indian wheat expensive, says Dhaka

DHAKA – Bangladesh will not buy Indian wheat as it finds its price higher than the international market, a senior official has said.

The Bangladesh government is reluctant to import wheat from India, which has lifted a three year ban on exports, due to its higher price than Russia, Turkey and Ukraine, director general of … Read more »»».

Tata plans to set up power plant in Bangladesh

DHAKA – Nitol-Niloy, the Bangladesh partner of Indian conglomerate Tata Group, plans to set up a 1,000MW power plant in a joint venture that will be the largest in the country.

“We will conduct a feasibility study and report to Tata management,” said Abdul Matlub Ahmad, chairman of Nitol-Niloy Group.
Ahmad said he discussed the project … Read the original article on Gaea Times at : Tata plans to set up power plant in Bangladesh.

Urban amenities for rural India – with private help

NEW DELHI – Here’s an idea that, if it works, could change the face of rural India. The government has begun partnering private players for rural development with the aim of providing urban amenities in villages and checking migration to cities.

The scheme for Provision of Urban Amenities to Rural Areas (PURA), an idea propounded by … Read : Urban amenities for rural India – with private help.

Ratan Tata honoured with Global Indian award in Canada

VANCOUVER – Tata Group chairman Ratan Tata was honoured with the Chanchlani Global Indian Award by the Canada India Foundation at the third annual gala here Saturday.

Tata has been given the award for his leadership, vision and professional excellence. The award carries a special cash prize of $225,000 and a citation.
Bestowing the honour on …. Source article on Gaea Times at  : Ratan Tata honoured with Global Indian award in Canada.

BSNL to provide 3G telecom services at affordable prices

NEW DELHI – State-run Bharat Sanchar Nigam Ltd (BSNL) will provide third generation (3G) telecom services at affordable rates and bridge the rural-urban digital divide, company chairman and managing director Kuldeep Goyal said.

3G services facilitate faster connectivity and enable applications such as Internet TV, video-on-demand, audio-video calls and high-speed data exchange.
“By making 3G services [..] Read the original article: here.

Top Republican rivals get in last jabs before Kentucky’s US Senate primary showdown Tuesday

GOP US Senate rivals in last dash to KY primary
GEORGETOWN, Ky. – Rand Paul called for checking big government spending and Trey Grayson took last jabs at his top Republican rival for the U.S. Senate, revisiting their main campaign themes at a GOP dinner Saturday night as their primary showdown loomed.
Sharing a …. Original article  : Top Republican rivals get in last jabs before Kentucky’s US Senate primary showdown Tuesday.

GOP Senate rivals to make final joint appearance before Kentucky’s Senate primary

Paul echoes major campaign themes as primary nears
GEORGETOWN, Ky. – Rand Paul called for checking big government spending and Trey Grayson took last jabs at his top Republican rival for the U.S. Senate, revisiting their main campaign themes at a GOP dinner Saturday night as their primary showdown loomed.
Sharing a stage the last …. Source  : Gaea News Network.

Miners vote to approve deal with Rio Tinto and end California borate mine lockout

Miners approve deal to end California mine lockout

BORON, Calif. – Some 75 percent of locked-out mine workers voted Saturday to approve a settlement with the operators of a huge borate mine in California’s Mojave Desert, ending an impasse that began in January, a union spokesman said.
Miners approved the six-year deal between their International Longshore Warehouse [..] Read the original article: here.

Canadian fighter jets escort Cathay Pacific plane from Hong Kong into Vancouver

Cathay Pacific plane from HK escorted to Vancouver

VANCOUVER – Canadian fighter jets escorted a Cathay Pacific airliner incoming from Hong Kong to a safe landing in Vancouver International Airport on Saturday due to a potential unspecified security threat, a North American Aerospace Defense Command spokesperson said.
The Canadian Press news agency cited Canadian Defense department officials … Read more »».

Brushing aside anti-incumbent talk, Lincoln talks up clout as Ark. Senate primary nears

Lincoln talks up clout as Ark. primary approaches

EAST CAMDEN, Ark. – Days before Arkansas voters deliver a verdict on her political career, Democratic Sen. Blanche Lincoln spent Saturday telling them that she’s built up the clout in Washington to best represent the state’s interests.
Lincoln, who is trying to fend off a primary challenge from Lt. …. Source  : Brushing aside anti-incumbent talk, Lincoln talks up clout as Ark. Senate primary nears.

NYC agency: Hundreds of city cab drivers repeatedly overcharged riders, could lose licenses

NY agency: 600-plus cabbies repeatedly overcharged

NEW YORK – Hundreds of New York City cab drivers accused of repeatedly overcharging passengers will face a special tribunal.
The city’s Taxi and Limousine Commission on Friday issued the results of a monthlong probe into data revealing elevated meter-based charges over the past two years. The agency said 88 drivers …. Original article on Gaea Times at  : NYC agency: Hundreds of city cab drivers repeatedly overcharged riders, could lose licenses.

Specter senses ‘victory in the air,’ renews attacks on Sestak, at Philly union rally

Specter feels ‘victory in the air’ at Philly rally

PHILADELPHIA – U.S. Sen. Arlen Specter told a union rally Saturday that “victory is in the air” and reprised his charges that Democratic primary challenger Joe Sestak is misleading voters in Tuesday’s Democratic primary and skipping too many votes in the U.S. House of Representatives.
Sestak, a second-term …. Source  : Specter senses ‘victory in the air,’ renews attacks on Sestak, at Philly union rally.

End of Minnesota’s legislative session is in sight, but budget deal is not

End of Minn. session in sight _ budget deal is not

ST. PAUL, Minn. – Minnesota lawmakers slid Saturday toward the end of the legislative session without a deal to address a $3 billion deficit, prolonging the uncertainty about how the state will pay its bills as its bank account empties.
While Democratic leaders held out hope …. Source article on Gaea Times at  : End of Minnesota’s legislative session is in sight, but budget deal is not.

Opposition to GM crops forced government rethink: Scientist

CHANDIGARH – Eminent scientist P.M. Bhargava Saturday said the majority of the people in the country are against genetically modified (GM) food crops and this forced the government to rethink its policy on such products.

“With a majority of people opposing the entry of GM foods, government of India was forced to stall the bill …. Source  : Opposition to GM crops forced government rethink: Scientist.

Hopes for budget compromise dim as Calif. faces deep cuts, even deeper political polarization

Hopes for budget compromise dim amid Calif deficit

SACRAMENTO, Calif. – Having already cut billions from state programs and tried tax increases, Gov. Arnold Schwarzenegger and legislative leaders from both parties say they are in no mood to compromise as they face California’s latest summer of fiscal gloom.
Schwarzenegger on Friday released his revised spending plan for … Original source on Gaea Times at : Hopes for budget compromise dim as Calif. faces deep cuts, even deeper political polarization.

Goa gets new vehicles to patrol beaches

PANAJI – To curb the spate of crimes against foreign tourists in Goa, a tourism trade body Saturday donated 15 jeeps and seven motorcycles to the state government to enable the patrolling of beaches.

The fleet was handed over by the World Travel and Tourism Council (WTTC) India initiative chairperson Arjun Sharma to Chief Minister … Original source on Gaea Times at : Goa gets new vehicles to patrol beaches.

Even before crash, high frequency traders shook markets with penny bets at millisecond speeds

Secretive speed traders in spotlight after crash

NEW YORK – If you saw a penny on the sidewalk, would you pick it up?
You may think it’s not worth the effort, but a breed of investors who have been in the news do. Using super-fast computers, high-frequency traders in effect bend down to pick up pennies lying …. Source  : Gaea News Network.

‘Law & Order’ was a glimpse into New York’s many faces _ and a mini-economy for its actors

New York’s faces: ‘Law & Order’ showed ‘em all

Since television was born, TV shows have been set in New York City. From “The Honeymooners” all the way to “30 Rock,” generations of New Yorkers have grown up seeing their hometown used as a backdrop, or even a central character, in everything from sitcoms and cartoons … Read : ‘Law & Order’ was a glimpse into New York’s many faces _ and a mini-economy for its actors.

RInfra to acquire additional 850 MW

MUMBAI – Reliance Infrastructure will acquire an additional 850 MW of electricity from the market to ensure there is no power shortage in Mumbai, a top official said Saturday.

“Mumbai is in shortage of around 650 MW of electricity. We will buy this shortfall from the market at regulated rates to keep our consumers from facing …. Source  : RInfra to acquire additional 850 MW.

Hyundai to launch one new car model in India every year

SEOUL – Heartened by a maturing Indian automobile market, Hyundai Motor has decided to launch at least one new model in the country every year even as moves are afoot to expand the rural marketing network and localise more components.

“Our plan is to introduce more than one new model every year and refurbish more than … Read more : Hyundai to launch one new car model in India every year.

India sets quarterly targets for infrastructure growth

NEW DELHI – India Monday set quarterly targets for its infrastructure sector during this fiscal in a bid to monitor progress in power generation and building of roads and ports, critical to its economic growth.

“We will be able to tell how much we are targeting and how much we have been able to achieve,” Panning … Original article on : India sets quarterly targets for infrastructure growth.

Delhi Metro chief Sreedharan resumes work

NEW DELHI – Delhi Metro Rail Corporation (DMRC) chief E. Sreedharan resumed attending office Monday after heart surgery last month and is working according to schedule like before, an official said.

Sreedharan, who underwent a successful bypass surgery last month, reached DMRC office in central Delhi sharp at 9 a.m., the official said.
“He (Sreedharan) [..] Read the original article: here.

Indian shares under pressure amid depressed global cues

MUMBAI – Indian equities markets continued to be depressed in afternoon trade Monday, after falling sharply in the morning, taking cues from a global sell-off triggered by fears that the Euro zone financial woes could derail economic recovery.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,961.92 points, was ruling … Read : Indian shares under pressure amid depressed global cues.

Nepal reopens tainted passport deal

KATHMANDU – Nepal Monday reopened a deal to buy new passports after an earlier contract awarded to an Indian company had to be scrapped due to protests by lawmakers.

The foreign ministry Monday invited bids from international security printing companies to print about four million modern Nepali passports that will be machine-readable instead of the earlier … Read this article on Gaea Times at : Nepal reopens tainted passport deal.

Oil falls to near $70 in Asia as euro, equities drop as traders eye Europe debt crisis

Oil falls to near $70 as euro sinks to 4-year low

SINGAPORE – Oil prices dropped to near $70 a barrel Monday in Asia as the euro sank to a four-year low and stock markets tumbled on investor concern Europe’s economy will wither amid a debt crisis and fiscal austerity measures.
Benchmark crude for June delivery was …. Original source  : Oil falls to near $70 in Asia as euro, equities drop as traders eye Europe debt crisis.

China auctions sidewalks to street vendors

BEIJING – Street shops in China will be legalised soon with the government launching an auction of sidewalks to vendors, a move that many say was brought about due to hygiene concerns.

Instead of chasing away unlicensed street vendors off the sidewalks, urban law enforcement officials from China’s Jiangxi province are auctioning off public space for … Read more : China auctions sidewalks to street vendors.

Minnesota Legislature bound for budget special session after missing adjournment deadline

Minn. Legislature bound for budget special session

ST. PAUL, Minn. – The Minnesota Legislature missed a midnight Sunday deadline for approving a plan to balance the state budget, sending lawmakers into an immediate special session.
Legislative leaders said they had a settlement with Gov. Tim Pawlenty to fix a $3 billion deficit but ran out of time …. Original source  : Minnesota Legislature bound for budget special session after missing adjournment deadline.

Rogue Thai general reputed to be Red Shirt military strategist dies; Bangkok chaos continues

Wounded rogue Thai general dies as chaos continues

BANGKOK – A rogue Thai general who helped anti-government protesters and was shot by an unidentified sniper died Monday from his wounds, raising fears of new violence after five days of street battles that have killed 36 people in downtown Bangkok.
Maj. Gen. Khattiya Sawasdiphol, a renegade army officer …. Source  : Rogue Thai general reputed to be Red Shirt military strategist dies; Bangkok chaos continues.

Sensex plummets in morning trade

MUMBAI – A benchmark index for Indian equities Monday fell 350 points within the first 30 minutes after the opening bell, amid depressed global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,961.92 points, was ruling at 16,643.62 points, 350.98 points or 2.07 percent down from its previous close …. Source article on Gaea Times at  : Sensex plummets in morning trade.

Dramatic 10-fold surge seen in kids hospitalized with MRSA; docs shift antibiotics to fight it

Dramatic surge seen in kids hospitalized with MRSA

CHICAGO – The number of children hospitalized with dangerous drug-resistant staph infections surged 10-fold in recent years, a study found.
Disease incidence increased from 2 cases to 21 cases per 1,000 hospital admissions from 1999 to 2008. Most infections were caught in the community, not in the hospital.
The study … Read the original article on Gaea Times at : Dramatic 10-fold surge seen in kids hospitalized with MRSA; docs shift antibiotics to fight it.

Late payment data shows credit card reforms provide immediate help to overstretched consumers

Late payment drop shows impact of credit reforms

NEW YORK – Consumers struggling to pay their bills in the first few months of the year got an immediate benefit from credit card reforms.
Late credit card payments fell sharply in the first quarter, and at least part of the drop can be attributed to the law that …. Source  : Gaea News Network.

Money Market Operations as on May 14, 2010

… Read : Money Market Operations as on May 14, 2010.

Sides trade offers as Minn. session pushes against midnight deadline; deal deemed ‘doable’

MN session pushes deadline; deal deemed ‘doable’

ST. PAUL, Minn. – Minnesota leaders closed in Sunday night on an agreement to fix a $3 billion budget deficit as lawmakers worked against a midnight deadline to finish the legislative session.
Senate Majority Leader Larry Pogemiller emerged from a negotiation session just before 10 p.m. with an upbeat report.
“We’re … Read more >>>.

Asian stocks tumble in early trading on fresh worries over debt woes in Europe

Asian stocks fall on worries over Europe debt woes

TOKYO – Asian stock markets tumbled in early trading Monday as fresh worries over debt woes in Europe dampened sentiment across the region.
Japan’s benchmark Nikkei 225 stock average dropped 207.50 points, or 2.0 percent, to 10,255.01.
South Korea’s Kospi lost 2.1 percent to 1,660.85. Australia’s S&P/ASX 200 index … Read this article on Gaea Times at : Asian stocks tumble in early trading on fresh worries over debt woes in Europe.

Japan machinery orders rise in March, the first upturn in 3 months on economic recovery

Japan machinery orders rise 5.4 percent in March

TOKYO – Japan’s machinery orders, a closely watched indicator of future business investment, rose in March for the first time in three months, indicating companies are becoming bullish on spending in line with an economic recovery.
The Cabinet Office said Monday that Japan’s core machinery orders in March increased …. Original source  : Japan machinery orders rise in March, the first upturn in 3 months on economic recovery.

Sestak, Specter try to project confidence in tight Democratic primary race for US Senate

Sestak, Specter try to project confidence in race
MEDIA, Pa. – With the election just days away, the candidates in Pennsylvania’s too-close-to-call Democratic primary race for U.S. Senate jockeyed Sunday to project confidence and control and prove who will be the stronger man against the Republicans in the fall.
At a rally on the Delaware …. Source article on Gaea Times at  : Sestak, Specter try to project confidence in tight Democratic primary race for US Senate.

UAE, South Korea pledge close ties

Seoul, May 17 (IANS/WAM) The United Arab Emirates (UAE) and South Korea have agreed to form a joint committee to explore cooperation in small and medium ventures, technology and healthcare.

UAE Economy Minister Sultan Al Mansouri recently held a series of meetings here with South Korean officials, including Economy Minister Tchoy Kwingwan, on enhancing cooperation between … Read the original article on Gaea Times at : UAE, South Korea pledge close ties.

Calif. solar cell company plans $20 million manufacturing plant in Las Vegas area

Company plans manufacturing plant for solar cells

LAS VEGAS – A California company is planning to build a $20 million manufacturing plant for solar power cells in the Las Vegas area.
The operation will employ about 278 workers, according to officials at Amonix Inc., which is based in Seal Beach, Calif.
The plan was announced Saturday during a …. Original article  : Calif. solar cell company plans $20 million manufacturing plant in Las Vegas area.

NBC launching aggressive fall schedule, hoping to climb out of fourth place

NBC will be new at 10 _ but it won’t be Leno

NEW YORK – NBC will give viewers a turn-the-page schedule next fall that attempts to erase the memory of this season’s failed Jay Leno experiment and another fourth-place finish by presenting new scripted programming each weeknight at 10 p.m.
That 10 p.m. schedule has four …. Source  : NBC launching aggressive fall schedule, hoping to climb out of fourth place.

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.

Allotting panchayat land for golf course illegal: Congress

CHANDIGARH – The Congress has termed as “illegal” and “unconstitutional” the Punjab government’s decision to persuade village panchayats to allot land in their area on lease to a private company to set up a golf course.

According to a report of the state-empowered committee on mega projects — a meeting of which was held in February … Original source on Gaea Times at : Allotting panchayat land for golf course illegal: Congress.

Delhi airport’s new terminal promises faster check-ins

NEW DELHI – Come July, passengers flying out of the upcoming terminal at the Indira Gandhi International Airport won’t have to encounter serpentine queues at the check-in counters, thanks to a new system that also promises huge savings for airlines.

Called the common use passenger processing system, or Cupps, it does away with the need for … Original source on Gaea Times at : Delhi airport’s new terminal promises faster check-ins.

Thai protesters attack local TV station, stock exchange; newspaper evacuates staff.

Thai protesters attack TV station, stock exchange

BANGKOK – Staff at the Thai local TV station Channel 3 say their building has been attacked by Red Shirt protesters.
One staffer said cars parked outside the building were set on fire and protesters then entered the Channel 3 building.
A journalist said the Red Shirts also set fires at …. Source  : Gaea News Network.

Why consumers feel confident about some choices

WASHINGTON – The confidence of consumers when making a choice depends on how easy the choice seems and whether the person making the choice is thinking concretely or abstractly, according to experts.

Claire I. Tsai from University of Toronto and Ann L. McGill from University of Chicago, the authors of the study, insist that abstract …. Source article  : Why consumers feel confident about some choices.

World stocks sharply down on investor concern European woes will drag on global economy

World stocks drop on European economy concerns

SINGAPORE – World stock markets fell Wednesday amid investor concern weak European spending will drag on global economic growth as the euro dropped to a fresh four-year low.
Traders are fearing the deep government spending cuts in some European countries that are part of a $1 trillion debt bailout package … Original article on : World stocks sharply down on investor concern European woes will drag on global economy.

US faces opposition from Turkey, Brazil, Lebanon on proposed new Iran sanctions resolution

Proposed Iran sanctions face opposition
UNITED NATIONS – The United States and its Western allies won crucial support from Russia and China for new sanctions against Iran over its suspect nuclear program, but they now face a tough campaign to get backing from the rest of the U.N. Security Council.

The draft resolution, obtained Tuesday by The [..] Read the original article: here.

CDMA operators ask government to accept TRAI proposals

NEW DELHI – CDMA operators have asked the government to accept the telecom regulator’s recommendations on capping of spectrum in circles, cost for buying additional spectrum, and mergers and acquisitions, without caving in to the GSM players’ pressure.

“TRAI recommendations are pro-consumer and will help bridge digital divide by linking spectrum allocation with roll-out obligations. These …. Read the original article  : here.

Rural Electrification Corp Q4 net up 45 percent

MUMBAI – State-run Rural Electrification Corp (REC) Wednesday said its net profit for January-March quarter increased by 44.6 percent to Rs.561.17 crore as against Rs.388.04 crore in the like period a year ago.

The company’s total income jumped by 29.2 percent to Rs.1,869.57 crore for the quarter ended March 2010 as compared to Rs.1,447.09 crore in … Read this article on Gaea Times at : Rural Electrification Corp Q4 net up 45 percent.

Oil falls to near $68 in Asia on investors concern Europe crisis will drag on global economy

Oil falls near $68 to 8-month low on Europe fears

SINGAPORE – Oil prices fell to near $68 a barrel Wednesday in Asia, extending losses to an eight-month low as mixed U.S. crude supply figures failed to stem a two week sell-off.
Benchmark crude for June delivery was down $1.06 to $68.35 a barrel at late afternoon … Read more »».

Hyundai plans $550 million new engine unit in India

SEOUL – Hyundai Motor plans a $550 million diesel engine plant in India with locally-sourced components to give customers a wider choice and consolidate its position as the country’s largest exporter of passenger cars, top officials said.

“We concluded a feasibility study on a new diesel engine plant in India around three months ago. I think, …. Source article on Gaea Times at  : Hyundai plans $550 million new engine unit in India.

Democratic leaders like having Paul as Republican target heading into general election

Democrats relish Paul’s GOP win in Ky. Senate race

BOWLING GREEN, Ky. – Democratic leaders were relishing the Republican primary victory of tea party candidate Rand Paul, suggesting he will be an easy target for them in November for Kentucky’s U.S. Senate seat.
In a closely watched race across the country as a test of the tea …. Original source  : Democratic leaders like having Paul as Republican target heading into general election.

Sestak, Toomey race for US Senate will focus on jobs, economy as candidates eye fall campaign

Sestak, Toomey race will be about jobs, economy
PHILADELPHIA – Joe Sestak had barely won the Democratic nod to run for U.S. Senate before he pledged to begin the next campaign within a matter of hours.
Sestak, a second-term congressman from suburban Philadelphia and a former Navy admiral, will face off against Republican …. Source article on Gaea Times at  : Sestak, Toomey race for US Senate will focus on jobs, economy as candidates eye fall campaign.

Cigarette makers sow uncertainty in tobacco country as they cut contracts with US farmers

Big Tobacco cutting contracts with US farmers

CYNTHIANA, Ky. – After years of faithfully supplying leaf to tobacco giant Philip Morris International, farmer Jess Burrier received a postcard, thanking him for his contributions and telling him his service wasn’t needed this year.
“They were very courteous, but a Dear John letter’s still a Dear John letter,” said … Read this article on Gaea Times at : Cigarette makers sow uncertainty in tobacco country as they cut contracts with US farmers.

Germany’s Merkel: Europe faces historic test as it works to shore up euro

Merkel: Europe faces historic test in euro crisis

BERLIN – Europe faces an “existential” test in its effort to shore up the euro, German Chancellor Angela Merkel said Wednesday, as she pushed for tougher regulation of markets and tighter public finances across the region.
Merkel told lawmakers that closer oversight of the financial world was needed to [..] Read the original article: here.

Senate sees finish line on Wall Street rules, key vote to end debate looms Wednesday

Senate readies for end game on Wall Street rules

WASHINGTON – An exhausted, occasionally cranky Senate is turning into the home stretch on a weekslong effort to pass a massive financial regulation bill.
Senators were scheduled to vote Wednesday to end debate on the legislation. Still, several issues remained unresolved and tempers were running short on the … Read : Senate sees finish line on Wall Street rules, key vote to end debate looms Wednesday.

China’s Geely plans to make world’s cheapest car

BEIJING – Chinese manufacturer Geely plans to unveil a budget city car which would cost less than the Indian-made Tata Nano.

The new Geely IG would sell for around $2,250 when it goes on sale in China in 2012. That compares to an asking price of between $2,700 and $3,800 for the Nano in India.
The …. Source article  : China’s Geely plans to make world’s cheapest car.

Immigration expected to dominate Obama-Calderon meetings, with new Arizona law sparking debate

Immigration highlighted in Obama-Calderon meetings
WASHINGTON – Propelled by a new Arizona law, the debate over immigration reform will take center stage when President Barack Obama welcomes Mexico’s Felipe Calderon to the White House and could overshadow the drug wars as the prime topic in talks between the two countries for the first time …. Source  : Gaea News Network.

Goa industry mulls conveyor belts to transport ore

PANAJI – Mining industries in Goa are mulling the possibility of setting up a network of conveyor belts to transport ore from the mining pits to the port from where it is exported, an industry insider said Wednesday.

Secretary of the Goa Mineral Ore Exporters Association (GMOEA) Glen Kalavampara said a string of conveyor belts may … Read more >>>.

Taiwan leader says improved ties may compel China to dismantle missiles aimed at island

Taiwan leader says China may dismantle missiles

TAIPEI, Taiwan – China could feel compelled to dismantle the more than 1,000 missiles it has pointed at Taiwan as relations between the rivals improve, the island’s president said Wednesday.
Ma Ying-jeou said the easing of tensions across the 100-mile-(160 kilometer-) wide Taiwan Strait makes it increasingly difficult for Beijing … Original source on Gaea Times at : Taiwan leader says improved ties may compel China to dismantle missiles aimed at island.

How companies can secure brand loyalty

WASHINGTON – When a firm picks a single celebrity to endorse their brand, it can backfire – just like Tiger Woods’ recent indiscretions affected Accenture. Now, a new research has examined different ways to secure brand loyalty.

“A widely applied method for improving how people feel about a brand is to pair the brand with positive … Read more »»».

MTNL not seeking concessions on 3G price: Kuldip Singh

NEW DELHI – Mahanagar Telephone Nigam Ltd (MTNL) chairman and managing director Kuldip Singh Thursday said the state-run telecom operator has not sought any concessions from the government on the auction price for third generation (3G) spectrum.

“We are not seeking any concessions. We are still discussing things with the board and the government,” Singh told … Read the original article on Gaea Times at : MTNL not seeking concessions on 3G price: Kuldip Singh.

Fading of inflation keeps rates low and makes it cheaper to buy a car or refinance a mortgage

Fading of inflation helps buyers and borrowers

WASHINGTON – It’s a good time to buy a car, refinance a mortgage, hit the road or shop for clothes.
Invest in a saving account? Forget it.
Consumer inflation has all but disappeared, the government reported Wednesday. The Federal Reserve may now be emboldened to keep interest rates at record lows … Original source on Gaea Times at : Fading of inflation keeps rates low and makes it cheaper to buy a car or refinance a mortgage.

Indian goods trans-shipment via Bangladesh may start in July

DHAKA – The trans-shipment of Indian cargo through Bangladesh is likely to begin in July, authorities said.

The customs department of the National Board of Revenue has drafted a circular regarding the trans-shipment and sent the proposal to the law and parliamentary affairs ministry for vetting, NBR sources told New Age newspaper.
According …. Source article  : Indian goods trans-shipment via Bangladesh may start in July.

Asian markets lower, Europe gains in early trading as investors mull debt crisis

Asian markets fall, Europe gains in early trading

SINGAPORE – Asian stock markets were lower Thursday, but European shares rebounded as investors mulled the impact of financial upheaval in Europe amid concern the continent may be unable to quickly resolve its debt crisis.
As trading to started in Europe, Britain’s FTSE 100 rose 0.8 percent, Germany’s DAX …. Original source  : Asian markets lower, Europe gains in early trading as investors mull debt crisis.

Theme-based lounge bar business picking up in metropolitan cities

NEW DELHI/CHANDIGARH – Influenced by the western trends, the theme ‘Lounge Culture’ is picking up pace among youngsters in metro cities.

In recent years, the lounge bar has emerged on the map of tidings in a city as a popular spot for.

“The culture now is more westernised, the system of having fun, so what we think … Read : Theme-based lounge bar business picking up in metropolitan cities.

All telecom stocks in green a day after 3G auction

NEW DELHI – Indian stock markets Thursday reacted positively to telecom companies winning precious airwaves for third generation (3G) phone services, with all their scrips trading in the green a day after the conclusion of auctions.

But analysts remained concerned over the high debt these companies may have to bear to pay off the licence fee …. Original article  : All telecom stocks in green a day after 3G auction.

Atlantis astronauts finally get to relax in orbit, only 1 more spacewalk remaining

Atlantis astronauts finally get to relax in orbit

CAPE CANAVERAL, Fla. – The Atlantis astronauts finally get a chance to relax in orbit, following two grueling spacewalks.
Only one spacewalk remains for the shuttle crew, on Friday. The astronauts will finish installing batteries at the International Space Station.
Two of the crew replaced four space station batteries during [..] Read the original article: here.

Dubai World says it’s won support for restructuring bid from group of leading creditors

Dubai World says it has deal with top creditors

DUBAI, United Arab Emirates – Dubai World said Thursday it has reached a deal “in principle” with a majority of its creditors on the company’s $23.5 billion restructuring plan.
The indebted state company – at the center of Dubai’s overall immense debt pile – said a coordinating committee [..] Read the original article: here.

Oil rises above $70 in Asia as mixed US supply data slows steep May sell-off

Oil rises above $70 amid mixed US supply data

SINGAPORE – Oil prices rose above $70 a barrel Thursday in Asia, recovering from an eight-month low after the European debt crisis battered crude this month.
Benchmark crude for June delivery was up 80 cents to $70.67 a barrel at late afternoon Singapore time in electronic trading on … Read more >>>.

SABMiller full year profit up 1.5 pct in a ‘difficult’ market with strong results in Americas

SABMiller annual profit up 1.5 pct in tough market

LONDON – SABMiller PLC, the world’s second-largest brewer, on Thursday posted a modest rise in profit for the full year as strong growth in the Americas, where it owns a stake in MillerCoors, helped it through an otherwise difficult market.
SABMiller, brewer of Grolsch, Pilsner Urquell and Peroni … Original article on : SABMiller full year profit up 1.5 pct in a ‘difficult’ market with strong results in Americas.

Food inflation rises to 16.49 percent

NEW DELHI – India’s annual food inflation edged up for the second straight week, rising to 16.49 percent for the week ended May 8, official data released Thursday showed.

The food inflation stood at 16.44 percent the previous week, up from 16.04 percent for the week ended April 24.
Data on the wholesale price index (WPI) …. Original article on Gaea Times at  : Food inflation rises to 16.49 percent.

NKorea, Iran, Japan base issues overshadow key US-China strategic and economic talks

Security issues overshadow Clinton’s Asia trip
WASHINGTON – Secretary of State Hillary Rodham Clinton is embarking on a three-nation tour of Asia whose centerpiece – a new round of U.S.-China strategic and economic talks – is likely to be overshadowed by a crisis with North Korea, possible new sanctions on Iran and the debate …. Original article  : NKorea, Iran, Japan base issues overshadow key US-China strategic and economic talks.

Novartis ordered to pay 250 m dollars to sexually harassed female sales reps

NEW YORK – A Manhattan jury has asked drugs giant Novartis to cough up 250 million dollars in punitive damages to thousands of female sales reps who were victims of gender discrimination.

The award came two days after jurors in the Manhattan Federal Court case awarded 3.3 million dollars in compensatory damages to 12 plaintiffs, who … Read the original article on Gaea Times at : Novartis ordered to pay 250 m dollars to sexually harassed female sales reps.

Canada’s seeks India, China support against global bank tax

TORONTO – Before G8 and G20 summits here next month can discuss a proposed global bank tax, Canada, whose banks stood out during the economic meltdown, has mounted an international effort to scuttle the idea. To get the US, India, China and other economies on their side and scuttle the idea, three Canadian ministers have … Read : Canada’s seeks India, China support against global bank tax.

New Indonesian finance minister, former bank CEO, says he will continue on reform path

Indonesia’s new finance chief: reforms will go on

JAKARTA, Indonesia – Indonesia’s new finance minister pledged Thursday to continue with the reform agenda started by his predecessor, who maintained economic growth but angered some with her anti-corruption sweep and tax enforcement.
Agus Martowardojo, CEO of state-owned Bank Mandiri – the country’s largest bank – was named Wednesday … Read more >>.

Angry at austerity measures, Greek unions to hold new general strike, protests

Greek unions hold new general strike against cuts

ATHENS, Greece – Greek workers held a general strike against the government’s austerity measures Thursday, two weeks after the previous day of protests deteriorated into rioting in which three people died in a burning bank.
Ferries stayed tied up at port, buses, the Athens metro and trains suspended services, …. Original article on Gaea Times at  : Angry at austerity measures, Greek unions to hold new general strike, protests.

Asian markets mostly lower as Europe debt crisis keeps investors jittery

Asian markets lower amid Europe debt doubts

SINGAPORE – Asian stock markets were lower Thursday, as financial upheaval in Europe continued to reverberate around the globe, with continued fears the continent will be unable to quickly resolve its debt crisis.
Japan’s benchmark Nikkei 225 stock average was off 1.5 percent at 10032.26 after the government said the …. Source article on Gaea Times at  : Asian markets mostly lower as Europe debt crisis keeps investors jittery.

ATM inventor dead

LONDON – John Shepherd-Barron, who invented the world’s first automatic cash dispensing machine, better known as ATM, is dead. He had come up with the idea after wondering why banks couldn’t operate a system like a chocolate-vending machine.

John had also thought of the four-digit Pin number.
He died in a hospital in Inverness Saturday after …. Source  : ATM inventor dead.

Oil gains to above $70 in Asia as mixed US supply data slows steep May sell-off

Oil gains to above $70 amid mixed US supply data

SINGAPORE – Oil prices rose above $70 a barrel Thursday in Asia, recovering from an eight-month low after the European debt crisis battered crude this month.
Benchmark crude for June delivery was up 44 cents to $70.31 a barrel at midday Singapore time in electronic trading on [..] Read the original article: here.

Singapore’s economy soars 16 percent in 1Q as manufacturing spurs comeback from recession

Singapore’s GDP soars 16 percent in first quarter

SINGAPORE – Singapore revised up its first quarter economic growth to a blistering 16 percent as manufacturing, finance and tourism roared back from last year’s recession.
Gross domestic product grew 15.5 percent in the first quarter from a year earlier, up from an initial estimate last month of 13.1 … Read this article on Gaea Times at : Singapore’s economy soars 16 percent in 1Q as manufacturing spurs comeback from recession.

Markets focus on Berlin, where German parliament expected to clear huge eurozone rescue deal

Eyes on Germany as lawmakers vote on euro rescue

BERLIN – With the future of the euro in the balance, German lawmakers were expected Friday to approve the massive rescue deal to save the common currency and contain the debt crisis, a package the government said combines solidarity with a drive to heal public finances.
Both houses … Read the original article on Gaea Times at : Markets focus on Berlin, where German parliament expected to clear huge eurozone rescue deal.

Abbott to buy Piramal’s branded drugs business for $3.71 bn

NEW YORK/MUMBAI – Illinois-based pharmaceuticals major Abbott Friday said it is acquiring Piramal Healthcare’s formulations business for $3.72 billion, to make the combined entity one of the largest players in the country’s generic drugs market.

Abbott, which is celebrating its 100th year in India and owns such brands as Creamffin, Brufen and Digene, will make an …. Original source  : Abbott to buy Piramal’s branded drugs business for $3.71 bn.

Long-range Afghan firefights prompt US Army rethink of reliance on workhorse M-4 rifle

US rifles not suited to warfare in Afghan hills

KABUL, Afghanistan – The U.S. military’s workhorse rifle – used in battle for the last 40 years – is proving less effective in Afghanistan against the Taliban’s more primitive but longer range weapons.
As a result, the U.S. is reevaluating the performance of its standard M-4 rifle and …. Source  : Long-range Afghan firefights prompt US Army rethink of reliance on workhorse M-4 rifle.

Abbott buys unit of India’s Piramal Healthcare for $3.7B as it chases emerging market growth

Abbott buys unit of Piramal Healthcare for $3.7B

MUMBAI, India – Abbott Laboratories has agreed to buy the domestic healthcare business of India’s Piramal Healthcare Ltd., a leading generics company, for $3.72 billion, the companies said Friday.
The deal reflects the growing global importance of generics as well as the rise of India’s consumer market for drugs.
Illinois-based …. Read the original article  : Abbott buys unit of India’s Piramal Healthcare for $3.7B as it chases emerging market growth.

Over 420,200 people visits UAE pavilion at Shanghai Expo

Shanghai, May 21 (IANS/WAM) More than 420,200 people from China and abroad visited the UAE pavilion at the Shanghai Expo 2010 since the event kicked off here three weeks ago, the organisers said.

UAE’s National Media Council (NMC), the organisers of the pavilion, forecast the number of visitors would cross half a million by the end … Read this article on Gaea Times at : Over 420,200 people visits UAE pavilion at Shanghai Expo.

Sensex under pressure as global peers fall

MUMBAI – Indian equities continued to trade in the red, mirroring the bearish sentiment in other bourses as Europe’s debt crisis and rising US jobless claims fuelled investor risk aversion across the globe.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,317.94 points, ruled at 16,342.6 points, 177.08 points or … Original article on : Sensex under pressure as global peers fall.

‘South Maharashtra beaches no threat to Goa yet’

PANAJI – The relatively virgin beaches of southern coastal Maharashtra are no threat to beach tourism in Goa, at least not in the immediate future, a top tourism trade official said Friday.

Beaches like Malvan and Tarkarli in south Maharashtra’s Sindhudurg district have a long way to go before they can be seen as a … Read more >>>.

Oil falls below $70 in Asia as investor confidence gives way amid Europe’s debt crisis

Oil falls below $70 on global economy concerns

SINGAPORE – Oil prices fell below $70 a barrel Friday in Asia on investor concern that a financial crisis in Europe could undermine the global economic recovery and crude demand.
Benchmark crude for July delivery was down $1 to $69.80 a barrel at late afternoon Singapore time in electronic …. Original article on Gaea Times at  : Oil falls below $70 in Asia as investor confidence gives way amid Europe’s debt crisis.

Spain says austerity cutbacks to restrict 2011 growth by half percentage point

Spain cuts 2011 growth forecast as austerity bites

MADRID – Spain says cutbacks aimed at reigning in its deficit will hurt economic growth in 2011, which it now expects to be half a percentage point lower than previously forecast.
Finance Minister Elena Salgado says the government now expects economic growth for next year to be 1.3 percent, …. Source  : Gaea News Network.

Spain says austerity cutbacks to restrict 2011 growth by half percentage point

Spain cuts 2011 growth forecast as austerity bites

MADRID – Spain says cutbacks aimed at reigning in its deficit will hurt economic growth in 2011, which it now expects to be half a percentage point lower than previously forecast.
Finance Minister Elena Salgado says the government now expects economic growth for next year to be 1.3 percent, …. Original source  : Spain says austerity cutbacks to restrict 2011 growth by half percentage point.

With sweeping bank bill, Congress seeks to end ‘too big to fail’ and ‘too good to be true’

Congress aims to put some discipline in lending

WASHINGTON – Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged the nation into a severe recession two years ago.
Under sweeping financial overhauls that have now passed the House and Senate, home buyers won’t be able to …. Source article  : With sweeping bank bill, Congress seeks to end ‘too big to fail’ and ‘too good to be true’.

Thai PM says order restored in Bangkok, provinces

Thai PM says order restored in Bangkok
BANGKOK – Thailand’s prime minister says order has been restored in Bangkok and the provinces, wracked by violence over the past week.

Prime Minister Abhisit Vejjajiva said Friday in a nationally broadcast television address that the government will “move swiftly to restore normalcy.”
He says “We have restored order in the …. Source  : Gaea News Network.

Piramal sells healthcare business to US firm

MUMBAI – Piramal Healthcare Friday said it will sell its healthcare solutions business in India, Sri Lanka and Nepal to US-based Abbott for $3.72 billion.

The business involves manufacturing, marketing and sales of branded pharmaceutical products.
The company said in a regulatory filing that it will transfer its manufacturing facilities at Baddi in Himachal … Read : Piramal sells healthcare business to US firm.

NKorea crisis looms over Clinton tour of Asia, ship sinking overshadows key US-China talks

Clinton in Asia as NKorea crisis looms
TOKYO – U.S. Secretary of State Hillary Rodham Clinton kicked off a three-nation tour of Asia on Friday that was supposed to focus on U.S.-China economic issues but is being overshadowed by a crisis over North Korea’s sinking of a South Korean warship.
Clinton landed in Japan for …. Original article  : NKorea crisis looms over Clinton tour of Asia, ship sinking overshadows key US-China talks.

AP INVESTIGATION: Documents show Texas reservist faked his way into military service

AP INVESTIGATION: Texas man faked way into Army

FORT WORTH, Texas – A Texas man with no military experience managed to trick the Army into letting him enter a reserve unit as a noncommissioned officer earlier this year, putting an untrained soldier in a leadership position in a time of war.
An Associated Press investigation found that … Read this article on Gaea Times at : AP INVESTIGATION: Documents show Texas reservist faked his way into military service.

Air Canada voted ‘Best in North America’

TORONTO – After almost surviving bankruptcy in 2008 and then making a strong comeback last year, Air Canada was voted as the best airline in North America in a worldwide survey released Thursday.

In the annual survey of more than 17 million air travellers by independent research firm Skytrax between July 2009 and April 2010, Air …. Source  : Air Canada voted ‘Best in North America’.

British Airways posts annual record loss ahead of further cabin crew strikes

BA posts another record annual loss
LONDON – British Airways PLC posted a record net loss for the second consecutive year on Friday after a cost savings program at the flagship carrier wasn’t enough to outweigh the impact of lower passenger numbers and strikes by cabin crews.

But the earnings report for the year ended March 31 … Original source on Gaea Times at : British Airways posts annual record loss ahead of further cabin crew strikes.

German parliament expected to approve huge eurozone rescue package

German parliament to vote on eurozone rescue

BERLIN – Germany’s parliament is expected to approve the huge eurozone rescue package on Friday.
Both houses of parliament are scheduled to vote on the euro750 billion (nearly $1 trillion) package drawn up two weeks ago. Germany, Europe’s biggest economy, is to contribute at least euro123 billion in loan guarantees.
Chancellor …. Source article on Gaea Times at  : German parliament expected to approve huge eurozone rescue package.

Hitler in pink posters cause storm in Italy

LONDON – Huge posters of Hitler wearing a lurid pink uniform with a love heart, instead of swastika, on his arm band have whipped up a storm in Italy.

The posters, which are 18 feet high, are for a line of clothing for young people and they have been prominently set up in Palermo city.
They …. Source article  : Hitler in pink posters cause storm in Italy.

Toyota starts recall of 4,509 Lexus cars in Japan over steering problems, US recall due Friday

Toyota recalls Lexus cars in Japan, US to follow

TOKYO – Toyota Motor Corp. began a recall Friday of 4,509 Lexus cars in Japan because of a computer problem affecting the model’s steering system, with a similar recall to follow in the U.S.
The carmaker said Wednesday it would recall the cars in Japan, with another 7,000 … Read more : Toyota starts recall of 4,509 Lexus cars in Japan over steering problems, US recall due Friday.

Dozens of deaths and recalls lead to effort for congressional ban on drop-side baby cribs

Move afoot in Congress to ban drop-side cribs

WASHINGTON – Drop-side cribs may soon be a thing of the past.
The cribs, which have a side rail that moves up and down, are blamed in the deaths of at least 32 infants or toddlers since 2000 who suffocated or were strangled in a drop-side crib.
Sen. Kirsten Gillibrand, … Original source on Gaea Times at : Dozens of deaths and recalls lead to effort for congressional ban on drop-side baby cribs.

Naga blockade of Manipur enters 42nd day

IMPHAL – The ongoing deadlock in Manipur entered its 42nd day Sunday with the main lifeline, National Highway 39, remaining paralysed due to an indefinite economic blockade enforced by Naga tribal groups, although supply of essentials has started trickling in through an alternative route, besides airdropping of food, fuel and medicines, in recent days.

“The crisis …. Original article  : Naga blockade of Manipur enters 42nd day.

93 mobile phones per 100 people in Brazil

Rio de Janeiro, May 23 (IANS/EFE) The number of mobile phone connections in Brazil has climbed to 180 million – or 93.8 cell phones per 100 people, a telecommunications regulator in the country has said.

A total of 6.8 million phone lines were activated in the first four months of 2010, said a statement from the … Read the original article on Gaea Times at : 93 mobile phones per 100 people in Brazil.

Israel begins annual civil defense drill at time of rising regional tension

Israel holds defense drill amid regional tension

JERUSALEM – Israel held a dress rehearsal for disaster Sunday, beginning a defense drill to test the response of soldiers, emergency crews and civilians to simulated missile barrages, terrorist attacks and chemical strikes.
Israel embarked on its fourth annual home front drill at a time when Iranian-backed militants are rearming … Read this article on Gaea Times at : Israel begins annual civil defense drill at time of rising regional tension.

South Korean, Chinese, Japanese trade ministers praise free trade agreement study effort

SKorea, China, Japan trade chiefs praise FTA study

SEOUL, South Korea – Trade ministers from China, Japan and South Korea on Sunday praised efforts to explore a potential joint free trade deal to boost commerce among three of Asia’s biggest economies.
South Korean Trade Minister Kim Jong-hoon, Chinese Commerce Minister Chen Deming and Japanese Economy, Trade and [..] Read the original article: here.

Stage set for world telecom meet in Hyderabad

HYDERABAD – A meeting here, beginning Monday, of global telecom experts will adopt the Hyderabad Action Plan that will set the agenda for development of telecommunication and information and communication technologies (ICT) over the next four years.

Over 700 delegates from across the world will attend the fifth world telecommunication development conference being organised by …. Source article on Gaea Times at  : Stage set for world telecom meet in Hyderabad.

India’s computer sales up 33 percent in first quarter

NEW DELHI – India’s personal computer sales touched 2.2 million in the first quarter of this year, registering a growth of an impressive 33 percent, says IDC, a leading technology consultancy and think tank.

Among the various segments, desktop computers accounted for nearly two-thirds of the total sales at 1.44 million units, representing an 18 percent …. Read the original article  : India’s computer sales up 33 percent in first quarter.

As Europe falters, China balks at revaluing currency, courting fresh friction with US

As Europe falters, China balks at revaluing yuan
SHANGHAI – Saleswoman Li Li stood in a booth at the Canton trade fair, surrounded by luggage decorated with floral, leopard and news headline prints like “credit crunch” and “economic disaster looms.”
She pointed to one that said “dollar exchange rate” with a chuckle. “We’re all worried … Read more »».

The goose with the golden spectrum (Comment)

Finally, it’s over. Eleven years after the birth of third generation (3G) telephony and near the end of its life, India’s auction for enabling spectrum or airwaves concluded May 19.

Here’s to the teamwork among India’s communications, finance and defence ministries that set telecom back by a half-decade. From its place ‘ahead of the curve’ … Read this article on Gaea Times at : The goose with the golden spectrum (Comment).

Give food stamps to poor instead of subsidised food: FICCI

NEW DELHI – The government should issue food stamps directly to families living below poverty line (BPL), instead of subsidised food, to ensure food security of the poor, an industry lobby said in a report.

The Federation of India Chambers of Commerce and Industry (FICCI) said the current system of providing subsidised food items through the …. Read the original article  : Give food stamps to poor instead of subsidised food: FICCI.

Dhaka to enact law to make jute use compulsory

DHAKA – Bangladesh is set to enact a law to make use of jute compulsory in packaging certain commodities, taking a cue from a 1987 law enacted by India — also a major producer of the commodity — to raise domestic demand.

The move is also intended to meet the rise in demand for jute packaging … Read more »».

South Korean, Chinese, Japanese trade ministers meet as countries study free trade agreement

South Korea, China, Japan trade chiefs meet

SEOUL, South Korea – Trade ministers from China, Japan and South Korea met Sunday to discuss issues including a possible three-way free trade agreement, amid worries over the world economy sparked by Europe’s debt crisis.
South Korean Trade Minister Kim Jong-hoon, Chinese Commerce Minister Chen Deming and Japanese Economy, Trade …. Original source  : South Korean, Chinese, Japanese trade ministers meet as countries study free trade agreement.

Republican Djou wins Hawaii congressional vote, giving GOP a victory in Obama’s hometown

GOP wins House seat in Obama’s home district
HONOLULU – Republicans scored a midterm election victory Saturday when Honolulu City Councilman Charles Djou won a Democratic-held House seat in Hawaii in the district where President Barack Obama grew up – the latest triumph for the GOP as … Read more : Republican Djou wins Hawaii congressional vote, giving GOP a victory in Obama’s hometown.

Clinton courts Chinese people ahead of tough diplomatic mission _ trying to punish North Korea

Clinton courts Chinese people; tough mission nears
BEIJING – U.S. Secretary of State Hillary Rodham Clinton said Sunday that she would be pushing the Chinese for a “more balanced economic relationship” with the U.S. in upcoming economic and strategic talks in Beijing.
Those talks, to be …. Source  : Gaea News Network.

Clinton headed to Beijing for economic, strategic talks with Chinese leaders

Clinton headed to Beijing for economic talks

SHANGHAI – Secretary of State Hillary Rodham Clinton is heading to Beijing for high-level economic and strategic talks with Chinese leaders that will be dominated by efforts to win China’s support to punish North Korea for the sinking of a South Korean warship.
Clinton, who will co-chair the talks with …. Source article on Gaea Times at  : Clinton headed to Beijing for economic, strategic talks with Chinese leaders.

Taiwan protests its exports labelled ‘Made in Taiwan, China’

TAIPEI – Taiwan was to persuade China to drop its demand that all Taiwanese goods exported to China must be marked “Made in Taiwan Province of China,” it was reported Sunday.

“We will not accept China’s demand, and will hold talks with China to find a solution,” the Liberty Times quoted Vice Economics Minister Lin Sheng-chung … Original source on Gaea Times at : Taiwan protests its exports labelled ‘Made in Taiwan, China’.

British Airways talks disrupted as protesters storm building

LONDON – The chief executive officer of British Airways had to be taken away under police escort after demonstrators stormed the building where he was in negotiations with cabin crew about planned labour stoppages, Scotland Yard said.

Willie Walsh needed the police escort Saturday to get out of the building after the demonstrators managed to get …. Source article on Gaea Times at  : British Airways talks disrupted as protesters storm building.

30,000 to 35,000 NJ protesters rally against state budget cuts proposed by Gov. Chris Christie

More than 30,000 in NJ protest state budget cuts

TRENTON, N.J. – A crowd estimated at 30,000 to 35,000 people gathered Saturday near New Jersey’s Statehouse to protest Gov. Chris Christie’s proposed budget cuts.
State police, who gave the crowd estimate, said no problems were reported.
The crowd is believed to be one of the largest ever to …. Source article  : 30,000 to 35,000 NJ protesters rally against state budget cuts proposed by Gov. Chris Christie.

Astros ace Roy Oswalt says he didn’t demand a trade, but deal might be best

Oswalt: No trade demand, but deal might be best

HOUSTON – Astros ace Roy Oswalt said he has not demanded a trade, but questioned the direction of his team and thinks a deal might be the best thing for everyone.
The 32-year-old Oswalt (2-6, 2.66 ERA) said Saturday that it’s time for him to move on and …. Source  : Gaea News Network.

Grace Foods corned beef cans recalled due to high levels of anti-parasite drug

Grace Foods recalls cans of corned beef
MIRAMAR, Fla. – Caribbean food products maker Grace Foods USA is voluntarily recalling two batches of its canned corned beef because they have higher than acceptable levels of a drug used to treat cattle for parasites, the company said Saturday.

There is a remote possibility that people could be sickened …. Original article  : Grace Foods corned beef cans recalled due to high levels of anti-parasite drug.

Corruption will be dealt with but Raja’s done no wrong: PM

NEW DELHI – Assuring that corruption will be dealt with at any level, Prime Minister Manmohan Singh Monday said auction of airwaves to telecom firms was above board and gave a clean chit to Communications Minister A. Raja, pending conclusion of a probe.

“What he (Raja) did was implement a policy that was already in place,” …. Original article  : Corruption will be dealt with but Raja’s done no wrong: PM.

Spicejet is five years old, expects higher growth

NEW DELHI – Low-cost airline SpiceJet has completed five years of operations, and is expecting higher growth in the coming years.

“Despite the challenges in the business environment, we have been able to sustain our growth and the future looks bright for us,” chief executive Sanjay Aggarwal said in a statement.
The airline has over 12 …. Original article  : Spicejet is five years old, expects higher growth.

Financial overhaul bill gives Obama another big win on Hill, but may not help Dems in November

Obama’s big wins on bills may not help Democrats
WASHINGTON – Anxious and angry, Americans are not in a congratulatory mood. That’s bad news for President Barack Obama and his Democratic allies.
After winning a landmark health care overhaul earlier this year, Obama now stands on the brink of seeing Congress approve the most far-reaching …. Source  : Gaea News Network.

Mayawati’s yes for special force for statues, memorials

LUCKNOW – Uttar Pradesh Chief Minister Mayawati is set to go ahead with her decision to form a special force to protect her multi-billion dream projects — memorials and statues, officials said Monday.

“We will have the new outfit in place by next month. We commenced the recruitment exercise a couple of months ago,” disclosed state …. Original article on Gaea Times at  : Mayawati’s yes for special force for statues, memorials.

Indian prime minister: “major effort” under way to bridge Indo-Pakistan divide

India PM: “major effort” in Indo-Pakistan talks
NEW DELHI – India’s prime minister said Monday a major diplomatic effort was under way to improve ties between India and Pakistan, and that he was hopeful the talks would succeed.
Prime Minister Manmohan Singh’s comments came three weeks after he and Pakistani Prime Minister Yousuf Raza Gilani … Read more >>.

British Airways cabin crew begin strike, but airline says most passengers will fly anyway

British Airways cabin crew begin 5-day strike

LONDON – Thousands of British Airways cabin crew began a five-day strike Monday, though the airline claimed it will still be able to carry 70 percent of passengers who have booked flights.
The walkout in the increasingly bitter feud follows the failure of weekend talks between the Unite union and … Original source on Gaea Times at : British Airways cabin crew begin strike, but airline says most passengers will fly anyway.

Bangladesh preparing to import Indian power

DHAKA – Bangladesh will allocate Taka 17 billion ($245 million) in its annual budget next month for constructing the infrastructure necessary to import 500 MW of electricity from India, an official said.

Finance minister Abul Maal Abdul Muhith has consented to the allocation.
A senior official of the power ministry said that the allocation would … Original article on : Bangladesh preparing to import Indian power.

Astronauts need to conduct a last safety inspection of Atlantis before Wednesday’s return

Astronauts need a last inspection of Atlantis

CAPE CANAVERAL, Fla. – The Atlantis astronauts have some surveying work ahead of them, now that they’re flying free of the International Space Station.
The six shuttle astronauts will pull out their newly repaired inspection boom on Monday to check for any micrometeorite damage that might have occurred during the … Read : Astronauts need to conduct a last safety inspection of Atlantis before Wednesday’s return.

PETA’s stock-buying campaign takes animal welfare protests from street corner to boardroom

PETA buys stock to gain influence in boardrooms

DES MOINES, Iowa – An animal-rights group known for sending out scantily clad demonstrators to protest fur and other provocative stunts has gained influence in boardrooms with a more traditional tactic: buying company stock.
People for the Ethical Treatment of Animals has been buying shares for seven years and …. Original article on Gaea Times at  : PETA’s stock-buying campaign takes animal welfare protests from street corner to boardroom.

Indian economy performed best, inflation will be tackled: PM (Second Lead)

NEW DELHI – India performed better than most global economies and will grow at 10 percent in the medium term with moderate inflation even as social inclusion would remain at the core of government agenda, Prime Minister Manmohan Singh said Monday.

“The agenda for our second term seeks to strengthen a pro-people policies and programmes initiated …. Original article on Gaea Times at  : Indian economy performed best, inflation will be tackled: PM (Second Lead).

Clinton says NKorea has created a ‘highly precarious’ security situation on Korean peninsula

Clinton: Koreas security situation ‘precarious’
BEIJING – U.S. Secretary of State Hillary Rodham Clinton said Monday that North Korea’s sinking of a South Korean warship has created a “highly precarious” security situation in the region and that the Obama administration is working to prevent an escalation of tension that could lead to conflict.
Speaking to …. Read the original article  : Clinton says NKorea has created a ‘highly precarious’ security situation on Korean peninsula.

Water will be major issue in coming years: PM

NEW DELHI – Distribution of water is likely to become a major issue, Prime Minister Manmohan Singh said Monday.

“I do agree that water is an emerging and going to become a major issue in the years to come,” Singh told journalists here.
About the accusation of the Tamil Nadu chief minister that the central government …. Source article  : Water will be major issue in coming years: PM.

World’s most expensive stamp auctioned

LONDON – The only known misprint of an 1855 three shilling stamp retained its title of being the world’s most expensive stamp when it was auctioned in Geneva.

The stamp, called the Swedish ‘Treskilling Yellow’, was bought by a group of buyers who wanted their identities and the winning bid be kept confidential, said auctioneer David …. Source article on Gaea Times at  : World’s most expensive stamp auctioned.

Asian stock markets mostly rise, led by China, after Wall Street’s advance

Asian stock markets follow Wall Street advance
SINGAPORE – Asian stock markets were mostly higher Monday, led by China, as investors took heart from a late rally on Wall Street. European shares were mixed.
As trading got started in Europe, Britain’s FTSE 100 fell 0.3 percent, Germany’s DAX index lost 0.4 percent amid …. Source article  : Asian stock markets mostly rise, led by China, after Wall Street’s advance.

India targets 10 percent near-term growth, 5 percent inflation: PM

NEW DELHI – Putting inclusive growth and taming price rise on top of United Progressive Alliance’s (UPA) agenda, Prime Minister Manmohan Singh Monday set a medium-term target of 10 percent annual economic expansion for India with moderate inflation.

“The agenda for our second term seeks to strengthen a pro-people policies and programmes initiated by our government …. Original source  : India targets 10 percent near-term growth, 5 percent inflation: PM.

India has a medium-term growth target of 10 percent: Manmohan Singh

NEW DELHI – Putting inclusive economic growth on top of United Progressive Alliance’s (UPA) agenda, Prime Minister Manmohan Singh Monday said his government has set an “achievable” medium-term target of 10 percent expansion per annum.

“The agenda for our second term seeks to strengthen a pro-people policies and programmes initiated by our government since 2004,” the … Read more »»».

Sensex up 228 points in morning trade

MUMBAI – A benchmark index for Indian equities started the week in the green, rising 228 points during morning trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) Monday opened at 16,494.61 points, and about 90 minutes later was ruling at 16,674.27 points, 228.66 points or 1.39 percent up from its previous close … Read the original article on Gaea Times at : Sensex up 228 points in morning trade.

South Korea announces trade restrictions on North Korea

SEOUL – South Korea warned Monday that it was ready to use military force in case of further “provocations” and announced far-reaching trade restrictions after finding that North Korea sunk one of its warships in March.

“From now on, the Republic of Korea will not tolerate any provocative act by the North and will maintain the …. Original article on Gaea Times at  : South Korea announces trade restrictions on North Korea.

After 6 seasons, ‘Lost’ finale leaves viewers with long-sought answers, but mysteries remain

‘Lost’ addresses years of questions in finale

NEW YORK – The premiere of “Lost” ended memorably with Charlie’s plaintive question to his fellow island castaways: “Guys, where ARE we?”
Six seasons and some 120 episodes later, many viewers might be wondering the same thing as the much-awaited “Lost” finale brought the series to a rapturous close Sunday … Read : After 6 seasons, ‘Lost’ finale leaves viewers with long-sought answers, but mysteries remain.

Andaman Islands to get better healthcare, flight connectivity

NEW DELHI – Acting on the recommendations of a parliamentary panel that criticised the government for its “indifference” to the healthcare needs of people of the Andaman and Nicobar Islands, the union home ministry has asked the health ministry to examine if a super speciality hospital can be set up in the Bay of Bengal [..] Read the original article: here.

Pakistan’s public debt jumped $12 bn in 2009-10

ISLAMABAD – Pakistan’s public debt ballooned by a staggering Rs.1 trillion ($12 billion) in fiscal 2009-10 that ends June 30 due to the rupee depreciating against the dollar as well as loans obtained from the International Monetary Fund, the World Bank and other foreign donors, a media report Tuesday said.

“The public debt in the first …. Original source  : Pakistan’s public debt jumped $12 bn in 2009-10.

Calif. lawmakers who led last year’s budget negotiations receive JFK Profile in Courage award

4 Calif. lawmakers receive JFK Courage award

SACRAMENTO, Calif. – Four California lawmakers who stood up to their parties during last year’s state budget crisis have been awarded the annual John F. Kennedy Profile in Courage Award.
The award was presented Monday to two Democrats, Senate President Pro Tem Darrell Steinberg and former Assembly Speaker Karen Bass, …. Original source  : Calif. lawmakers who led last year’s budget negotiations receive JFK Profile in Courage award.

Retired Colombian police officer accuses Uribe’s brother of leading 1990s death squad

Ex-cop claims Uribe’s brother led death squad

BOGOTA, Colombia – A retired police major said Monday that Colombian President Alvaro Uribe’s younger brother commanded a right-wing death squad in the early 1990s from the family’s cattle ranch. He estimated the militia killed at least 50 people.
The former policeman said Santiago Uribe also claimed his older brother, …. Source article  : Retired Colombian police officer accuses Uribe’s brother of leading 1990s death squad.

Obama administration asks judge to dismiss Virginia lawsuit challenging health reform law

Feds ask Va. health reform lawsuit be dismissed

RICHMOND, Va. – President Barack Obama’s administration on Monday asked a federal judge in Virginia to dismiss the state’s lawsuit alleging Congress overstepped its constitutional bounds with the new health care reform law.
Health and Human Services Secretary Kathleen Sebelius argued in a motion filed hours before a midnight …. Original article on Gaea Times at  : Obama administration asks judge to dismiss Virginia lawsuit challenging health reform law.

NYC seeks developer to build new home for National Jazz Museum in Harlem

NYC seeks developer for jazz museum in Harlem

NEW YORK – New York City is seeking a developer to build a new home for the National Jazz Museum in Harlem at a city-owned lot across the street from the Apollo Theater.
The 10,000-square-foot site also will house the ImageNation Sol Cinema, an art house movie theater.
The city’s … Read more »»».

Lobbyists look for exceptions in bill as House and Senate blend banking bills

Bills passed, lobbyists still look for loopholes
WASHINGTON – Auto dealers and insurance companies sought help from the Senate on Monday to ease the reach of financial regulations, part of a last lobbying thrust as the House and Senate assemble legislation for President Barack Obama’s signature.
Car dealerships were looking for the Senate to instruct … Read more >>.

Construction crews dig into the White House North Lawn as major utility upgrade under way

White House North Lawn becomes a construction zone

WASHINGTON – People walking by the front lawn of the White House can expect to see some mixture of construction crews, rigs and chain-link fencing for the next two years.
The executive mansion has launched the first major upgrade to its utility systems in more than 40 years.
The project … Read the original article on Gaea Times at : Construction crews dig into the White House North Lawn as major utility upgrade under way.

Justice Dept warns health insurance industry on mergers that stifle competition

Govt warns health insurance industry on mergers
WASHINGTON – In a blunt warning to the health insurance industry, the Obama administration said Monday it won’t hesitate to block mergers that threaten to stifle competition.
Justice Department antitrust chief Christine Varney told a lawyers’ conference that vigorous enforcement of anti-monopoly laws is vital to the success …. Source article  : Justice Dept warns health insurance industry on mergers that stifle competition.

US Cellular promotes human resources chief to executive vice president

US Cellular promotes human resources chief

CHICAGO – Wireless provider United States Cellular Corp. said Monday it has promoted Jeffrey J. Childs to executive vice president and chief human resources officer.
Childs previously served as senior vice president and chief human resources officer. He joined the company in 2004.
… Original article on : US Cellular promotes human resources chief to executive vice president.

Congress to vote on $11B tax increase on oil companies to help pay to clean up spills

Oil tax increase would help pay to clean up spills

WASHINGTON – Congress is getting ready to quadruple – to 32 cents a barrel – a tax on oil used to help finance cleanups. The increase would raise nearly $11 billion over the next decade.
The tax is levied on oil produced in the U.S. or imported …. Source article on Gaea Times at  : Congress to vote on $11B tax increase on oil companies to help pay to clean up spills.

CAPITAL CULTURE: Who made the list? Jewish community wonders who’ll make White House reception

CAPITAL CULTURE: WH party will fete Jewish culture

NEW YORK – In politics, as elsewhere, it’s a sport that’s almost as popular as people-watching: Guest-list watching.
And this week, it’s the Jewish community in Washington and beyond that’s buzzing over who’ll be on the list when Barack and Michelle Obama host the first-ever White House reception marking …. Original article on Gaea Times at  : CAPITAL CULTURE: Who made the list? Jewish community wonders who’ll make White House reception.

Pakistan’s GDP to grow 4.5 percent in 2010-11: Report

KARACHI – Pakistan’s economy is set to grow at 4.5 percent in fiscal 2010-11 beginning July 1 against the 4.1 percent during the current fiscal, a media report said Tuesday.

Agriculture growth in the next fiscal is targeted at 3.8 percent, manufacturing growth at 5.6 percent and service sector growth at 4.7 percent, The News reported … Original source on Gaea Times at : Pakistan’s GDP to grow 4.5 percent in 2010-11: Report.

A look at previous stock market corrections, comebacks

A look at stock market corrections, comebacks

The stock market has now undergone its 18th “correction” – a decline of 10 percent to 19.9 percent – since 1946.
Looking at earlier corrections may provide a gauge of how long this one could last. Previous corrections have posted declines averaging 14 percent and typically lasted about four months. …. Original source  : A look at previous stock market corrections, comebacks.

Tony Blair joins Indian-born billionaire’s US firm

LONDON – Former British prime minister Tony Blair, who has landed a job as adviser to Indian-born billionaire Vinod Khosla’s US-based venture capital firm, says he shares a “clear vision” with the tycoon, “one of the earliest leaders in cleantech investment”.

Blair is to lend his expertise and “global relationships” to the California-based Khosla Ventures, which … Read : Tony Blair joins Indian-born billionaire’s US firm.

EXIM India to open office in Ethiopia next month

ETHIOPIA – In a bid to support Indian companies’ growing investments in East Africa, the Export and Import (EXIM) Bank of India will open an office in Ethiopia next month, officials said.

Ethiopia’s Minister of Finance and Development Sufian Ahmed and EXIM bank officials are expected to sign the agreement Tuesday, which will further boost ties … Read the original article on Gaea Times at : EXIM India to open office in Ethiopia next month.

Sensex down 1.48 percent in early trade

MUMBAI – A benchmark index for Indian equities Tuesday opened in the red and was ruling 1.48 percent lower than its previous close, about 15 minutes into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,444.57 points, was ruling at 16,226 points, 243.55 points or 1.48 percent down from …. Original source  : Sensex down 1.48 percent in early trade.

NFL owners to pick site of 2014 Super Bowl; using new OT rule in regular season also on agenda

NFL meeting’s agenda: 2014 Super Bowl, new OT rule

IRVING, Texas – Ready for an outdoor Super Bowl in cold, possibly snowy weather? Thinking that new overtime rule adopted for playoff games should be used in the regular season, too?
NFL owners will discuss those things and more on Tuesday during meetings in the Dallas area.
The owners … Read more »».

Treasury rates mixed at weekly auction with three-month bills up and six-month bills falling

Treasury rates mixed at weekly auction
WASHINGTON – Interest rates on short-term Treasury bills were mixed in Monday’s auction, with three-month bills rising slightly while while six-month bills fell to the lowest level since early March.

The Treasury Department auctioned $27 billion in three-month bills at a discount rate of 0.165 percent, up from 0.160 percent last … Read more : Treasury rates mixed at weekly auction with three-month bills up and six-month bills falling.

Democratic lawmakers counter Schwarzenegger budget cuts by seeking $5 billion in tax increases

Calif. Democrats propose nearly $5B in new taxes

SACRAMENTO, Calif. – Democrats in the state Senate on Monday countered Gov. Arnold Schwarzenegger’s proposed budget cuts with a plan to raise taxes by nearly $5 billion, largely by extending temporary taxes and delaying corporate tax breaks for two years.
During a Senate subcommittee hearing, Democrats said they want …. Source  : Democratic lawmakers counter Schwarzenegger budget cuts by seeking $5 billion in tax increases.

Brown Out: Cavaliers fire coach Mike Brown; team begins search with eye on keeping LeBron

Cavaliers fire Mike Brown after 5 seasons
CLEVELAND – Of the many reasons the Cleveland Cavaliers had for firing coach Mike Brown after five seasons without an NBA title, one mattered most.

They can’t lose LeBron James.
Less than two weeks after their stunning, second-round loss to Boston in the playoffs, the Cavaliers fired Brown on Monday, an … Read more >>.

Costa Rica congress draws ire by voting itself 60 percent pay raise after only month in office

Costa Rica congress votes itself 60% pay raise

SAN JOSE, Costa Rica – Costa Rica’s unicameral congress is drawing criticism by voting itself a 60 percent pay raise less than a month after legislators took office.
Congress members’ salaries will rise to about $8,400 a month if the bill is enacted.
President Laura Chinchilla said Tuesday she will …. Source article  : Costa Rica congress draws ire by voting itself 60 percent pay raise after only month in office.

Land deals up by 550 percent in UAE

Abu Dhabi, May 26 (IANS/WAM) Land and real estate transactions in the United Arab Emirates (UAE) showed a whopping increase of 550 percent in April 2010 from the corresponding period last year.

Transactions in Abu Dhabi in April 2010 were worth a total of 12.3 billion dirhams ($3.3 billion). Property transactions amounted to 11.9 billion dirhams, …. Source  : Gaea News Network.

South Indian Bank announces 1:10 stock split

TRISSUR – Kerala-based South Indian Bank has decided to split its stocks 1:10 to make it affordable to more people and broaden its retail shareholders base, a top official of the bank said Wednesday.

The bank’s board of directors has decided to split one share of Rs.10 face value into 10 shares of Re.1 each, said …. Original article  : South Indian Bank announces 1:10 stock split.

Sensex holds on to gains amid positive global cues

MUMBAI – A benchmark index for Indian equities Wednesday managed to hold on to its morning gains as sentiments improved across Asian markets and European bourses opened in the green.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,069.78 points, was ruling at 16,264.62 points, 242.14 points or 1.51 percent …. Original article  : Sensex holds on to gains amid positive global cues.

Rubber growers get Rs.95 lakh assistance for 2010-11

NEW DELHI – The government Wednesday said 18,915 rubber growers will receive financial assistance of Rs.95 lakh this financial year.

The growers will receive the amount on the basis of price spectrum band 2009, calculated on the basis of seven years’ moving average of international price for the commodity.
The amount has been provided under the …. Original source  : Rubber growers get Rs.95 lakh assistance for 2010-11.

IIT Delhi Graduate Introduces ‘Phokatcopy’

NEW DELHI, India (GaeaTimes.com)- Harsh Narang, an IIT Delhi graduate has launched the ‘PhokatCopy’, an idea which he had emulated from his days at the Delhi campus. The young boy has started this initiative with the aim to provide free photocopies to every student in the area, these photocopies being subsidized by the advertisements …. Source article on Gaea Times at  : IIT Delhi Graduate Introduces ‘Phokatcopy’.

BHEL fourth quarter net rises 41 percent

MUMBAI – State-run Bharat Heavy Electricals Ltd. (BHEL) Wednesday reported a 41.7 percent rise in net profit at Rs.1,909.58 crore in the fourth quarter of 2009-10 against Rs.1,347.47 crore in the corresponding quarter of the previous fiscal.

Total income during the quarter grew to Rs.14,152.63 crore, against Rs.11,047.24 crore in January-March 2009.
Net profit for the … Read the original article on Gaea Times at : BHEL fourth quarter net rises 41 percent.

NY and NJ hope fans put their mittened hands into deep pockets for 2014 Super Bowl

NY and NJ bet big on Meadowlands Super Bowl

The big bet for Super Bowl 2014? The weather.
Tourism leaders in New York and New Jersey are hoping thousands of football fans flock to the region in the dead of winter wearing overcoats with deep pockets.
The Super Bowl could bring in as much as $550 million to … Original source on Gaea Times at : NY and NJ hope fans put their mittened hands into deep pockets for 2014 Super Bowl.

Oil rises above $69 in Asia as stock rebound, US gasoline supplies drop

Oil rises above $69 on stocks, US gasoline drop

SINGAPORE – Oil prices rose above $69 a barrel Wednesday in Asia as a drop in U.S. gasoline supplies and rebounding Asian stock markets bolstered confidence that demand for fuel is rising.
Benchmark crude for July delivery was up 65 cents to $69.40 a barrel at midday Singapore … Read more >>>.

Malaysian indigenous tribe wins $1.9 million in landmark settlement on land rights

Malaysian indigenous tribe wins land rights case

KUALA LUMPUR, Malaysia – Members of an indigenous tribe in Malaysia have won 6.5 million ringgit ($1.9 million) in a landmark settlement with highway authorities for forcibly taking away their ancestral land for development, a rights activist said Wednesday.
The settlement ended a 15-year legal battle for the Temuan tribe …. Source  : Malaysian indigenous tribe wins $1.9 million in landmark settlement on land rights.

Passengers livid over Air India strike, management offers talks (Second Lead)

NEW DELHI – Representatives of striking Air India staff and top officials of the financially-drained carrier are to hold talks here Wednesday in a bid to end the standoff that has left thousands of passengers across the country stranded with as many as 80 flights cancelled since morning.

“We were invited by the management for talks. … Read more »»».

CBS comes out on top for the 7th TV season in 8 years; ‘American Idol’ still a winner

CBS comes out on top for the 7th season in 8 years

NEW YORK – Television’s champions for the season that concludes Wednesday will be familiar: the CBS network and Fox’s “American Idol” juggernaut.
CBS’ status as the nation’s most-watched prime-time network for the seventh time in the past eight years isn’t in doubt. The network averaged … Read more >>>.

Nicklaus tournament gives Calcavecchia an exemption final PGA start

Calcavecchia to end PGA Tour career at Memorial

JACKSONVILLE, Fla. – Mark Calcavecchia has teed it up 736 times on the PGA Tour, winning 13 tournaments and earning just under $24 million in a career that has not had very many dull moments.
Calcavecchia turns 50 on June 12, and he was thrilled – as thrilled as …. Read the original article  : here.

Consumer confidence rises to 63.3, marking third straight month of improvement

Summary Box: Consumer confidence up in May

RISING CONFIDENCE: The Conference Board’s Consumer Confidence Index rose to 63.3, sailing past economists’ forecasts for a 59.0 reading. It marks the third straight month of improvement.
BEHIND THE FIGURES: The index is still a long way from the 90 that’s considered healthy.
WHY IT’S IMPORTANT: Consumer spending, including major items …. Read the original article  : Consumer confidence rises to 63.3, marking third straight month of improvement.

Forbes buying online news startup True/Slant, marrying old and new media

Forbes buying online news startup True/Slant

NEW YORK – Forbes Media is buying the online news startup True/Slant, marrying two companies with vastly different approaches to journalism and publishing.
Lewis Dvorkin, who founded True/Slant and was once an editor at Forbes magazine, announced the deal in a blog post Tuesday. He didn’t say how much Forbes is … Read more >>.

Ill. House votes to borrow pension money, give governor sweeping budget powers

Ill. House OKs borrowing, emergency budget plan

SPRINGFIELD, Ill. – The Illinois House approved a new state budget Tuesday that would borrow billions of dollars, give the governor broad new control over spending and leave a mountain of unpaid bills at the end of the year.
Republicans, and one or two Democrats, condemned the proposed budget as … Read the original article on Gaea Times at : Ill. House votes to borrow pension money, give governor sweeping budget powers.

Tips on how to make the temp-to-perm transition; Wedding spending jumps, survey finds

Tips on how to make the temp-to-perm transition

TEMP POSITION TRANSITION: Contract work and temporary employment are on the rise as the economy improves, especially for companies that need to meet increased demand but are hesitant to commit to permanent employees and higher benefit costs.
Working a temp job can be a great opportunity to keep skills …. Original source  : Tips on how to make the temp-to-perm transition; Wedding spending jumps, survey finds.

Passengers suffer as Air India cancels 76 flights

NEW DELHI – Over 76 Air India domestic and international flights were cancelled Wednesday following the strike by 15,000 crew members against a gag order and delay in the payment of salaries, leaving thousands of passengers stranded across the country.

“I had a flight to Hong Kong at 11 p.m. on Tuesday and reached the … Original article on : Passengers suffer as Air India cancels 76 flights.

Mahindra and Mahindra acquires electric car maker REVA

BANGALORE/MUMBAI – Automobile major Mahindra and Mahindra (M&M) Wednesday announced it has taken 55.2 percent stake in electric car-maker REVA through a combination of equity purchase and fresh capital infusion of Rs.45 crore ($10 million).

Post acquisition, the Bangalore-based REVA will be renamed Mahindra REVA, spokespersons of both the companies told reporters here.
M&M’s automotive …. Original source  : Mahindra and Mahindra acquires electric car maker REVA.

Google’s Pac-Man logo cost $120 mn to economy

LONDON – Google’s Pac-Man logo led to almost five million wasted hours and cost the economy about $120 million, an analyst estimated.

Google apparently had about 505 million users Friday when the Pac-Man doodle went live. The game took up 4,819,352 hours of employee time and cost the economy a whopping $120,483,800, said Tony Wright, founder … Read more >>.

Oil rises above $72 in Asia as investors mull how much Europe slowdown will hurt demand

Oil rises above $72 as traders mull Europe impact

SINGAPORE – Oil prices rose to above $72 a barrel Thursday in Asia as investors mulled the impact slower European economic growth could have on global crude demand.
Benchmark crude for July delivery was up 85 cents to $72.36 a barrel at late afternoon Singapore time in electronic …. Source article on Gaea Times at  : Oil rises above $72 in Asia as investors mull how much Europe slowdown will hurt demand.

Retired Supreme Court Justice Souter can’t stay away from work, takes appeals-court cases

Justice Souter may be retired, but he still works

BOSTON – Justice David Souter ever so politely interrupts an attorney making a complicated legal argument.
“May I ask you a question?” Souter asks. “I will tell you, you do not have to answer it as far as I’m concerned.”
Then Souter cuts to the chase, stinging the lawyer … Read : Retired Supreme Court Justice Souter can’t stay away from work, takes appeals-court cases.

World stocks rise on hopes Asian, US economic growth can withstand Europe debt crisis

World stocks rise on Asian, US growth hopes

SINGAPORE – World stock markets rose Thursday on optimism that Asian and U.S. economic growth will likely withstand financial turmoil in Europe.
Oil prices, meanwhile, headed above $72 a barrel and the shaky euro recouped some losses against the dollar.
Asian countries including China, Japan, Singapore, Taiwan and Malaysia have … Read more : World stocks rise on hopes Asian, US economic growth can withstand Europe debt crisis.

G8/G20 summits to be most expensive three days for Canada

TORONTO – The G8 and G20 summits being held here next month will cost Canada a record $1.1 billion – the most expensive 72 hours in the country’s history.

With these summits become a magnet for anti-globalization protesters, Canada is spending as much as $933 million to provide security for the two summits which together will …. Original article  : G8/G20 summits to be most expensive three days for Canada.

Treasury says sale of 1.5 billion shares of Citigroup stock brings government $6.2 billion

Treasury gets $6.2 billion from Citigroup sales

WASHINGTON – The Treasury Department said Wednesday it raised $6.2 billion from the sale of 1.5 billion shares of Citigroup stock it received as part of the government’s rescue of the bank.
The sales took place over the past month and represented 19.5 percent of the government’s holdings of Citigroup … Read more : Treasury says sale of 1.5 billion shares of Citigroup stock brings government $6.2 billion.

Deadline for jobless benefits nears as Dems struggle for votes on tax and spending package

Dems scale back bill to woo votes for jobless aid

WASHINGTON – Democrats are struggling to extend jobless benefits before they go on vacation next week.
Some lawmakers are concerned they’ll be hammered over deficit spending even though the money is for the unemployed.
House leaders hope to vote Thursday on a bill that would extend the benefits …. Read the original article  : Deadline for jobless benefits nears as Dems struggle for votes on tax and spending package.

Factory orders and new-home sales rise in April, giving economic recovery a boost

Factory orders and new-home sales rise in April

WASHINGTON – The economic recovery got a lift in April as orders for large manufactured goods surged while sales of new homes benefited from homebuyer tax credits.
Manufacturing is helping drive the rebound. But some economists worry about the threat posed to U.S. exports from the widening debt crisis … Read the original article on Gaea Times at : Factory orders and new-home sales rise in April, giving economic recovery a boost.

Summary Box: Most commodities retreat on global economic issues; gold is key exception

Summary Box: Global economy weighs on commodities

STALWART GOLD: Gold was one of the few commodities to post a gain Tuesday. It closed up just slightly, limited by selling that routinely occurs in advance of options expirations.
GLOBAL ECONOMIC BLUES: Prices retreated across most commodities as anxious traders monitored ongoing developments with Europe’s debt problems and potential … Read the original article on Gaea Times at : Summary Box: Most commodities retreat on global economic issues; gold is key exception.

Sensex extends gains on positive Asian cues

MUMBAI – A benchmark index for Indian equities extended its gains Thursday on positive cues from other major Asian bourses.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,410.88 points, was ruling at 16,546.28 points, 158.44 points or 0.97 percent up from its previous close at 16,387.84 points.
At … Read more >>>.

Doctors on edge as Congress again goes to the brink to hold off Medicare fee cuts

Uncertainty over Medicare pay sets doctors on edge
WASHINGTON – For the third time this year, Congress is scrambling to stave off a hefty pay cut to doctors treating Medicare patients – even as the Obama administration mails out a glossy brochure to reassure seniors the health care program is on solid ground.
The 21.3 … Read more : Doctors on edge as Congress again goes to the brink to hold off Medicare fee cuts.

Enough market liquidity despite 3G spectrum payments: SBI chief

MUMBAI – O P Bhatt, the Chairman of the State Bank of India, has said there is sufficient liquidity in the market despite an unexpected cash outflow due to 3G mobile spectrum payments.

Talking to reporters here on the sidelines of an RBI … Original article on : Enough market liquidity despite 3G spectrum payments: SBI chief.

Oil India declares 340 percent dividend

NEW DELHI – The state-owned Oil India Limited (O.I.L.) declared a dividend of 340 percent in its fourth quarter results on Wednesday.

N. M. Borah, Chairman and Managing Director of O. I. L. announced that the declared dividend is one of the highest declared by the company so far.

“In recognition to the company’s excellent … Read this article on Gaea Times at : Oil India declares 340 percent dividend.

Apple surpasses Microsoft as most valuable technology company

NEW YORK – Apple, the maker of iPods, iPhones and iPads, overtook Microsoft, the computer software giant, on Wednesday to become the world’s most valuable technology company.

According to a New York Times report,in intraday trading in the afternoon session, Apple shares rose 1.8 percent, which …. Original article on Gaea Times at  : Apple surpasses Microsoft as most valuable technology company.

Day after strike, Air India seeks to restore normalcy

NEW DELHI/MUMBAI – National carrier Air India was Thursday struggling to restore normal operations after a two-day wildcat strike by 15,000 employees and said it would take another two days for flight schedules to get regular.

An airline spokesperson said 78 schedules – domestic and international – have been slotted Thursday and more [..] Read the original article: here.

Two Indians among Malaysia’s 40 Richest

WASHINGTON – Two persons of Indian origin figured among Forbes list of Malaysia’s 40 richest as the rebounding Malaysian economy expanded 10 percent in the first quarter of 2010, its highest growth rate in a decade.

Malaysia’s 40 wealthiest are worth a total of $51 billion, up from $36 billion a year ago and even higher … Original source on Gaea Times at : Two Indians among Malaysia’s 40 Richest.

Costa Rica’s congress shelves planned vote on 60pc pay raise after president threatens veto

Costa Rica congress shelves vote on 60% pay hike

SAN JOSE, Costa Rica – Costa Rica’s congress has shelved a final vote on a 60 percent pay raise for its members after President Laura Chinchilla promised to veto the measure.
Salaries for members of the unicameral congress would have risen to about $8,400 a month under a …. Source  : Costa Rica’s congress shelves planned vote on 60pc pay raise after president threatens veto.

Oil rebounds above $71 a barrel as stocks rebound and US gasoline supplies drop

Oil prices jump 4 percent after 3-week slump

NEW YORK – Oil prices rebounded sharply Wednesday after weeks of being knocked down by economic uncertainty.
After dropping more than 20 percent in three weeks, oil rallied 4 percent, the best one-day percentage gain since September 30. Consumers, meanwhile, continue to benefit from declining prices at the pump.
Investors … Read more >>.

Being chosen to host 2014 Super Bowl could lead to naming rights for new stadium

Super Bowl may get name for Giants-Jets stadium

EAST RUTHERFORD, N.J. – Landing the Super Bowl in 2014 should help the Giants and Jets finally put a name on their new $1.6 billion stadium.
Speaking at a news conference Wednesday, the owners of the two NFL teams said the selection of the stadium for the NFL championship … Original article on : Being chosen to host 2014 Super Bowl could lead to naming rights for new stadium.

Facebook overhauls privacy settings

SAN FRANCISCO – Social networking site Facebook introduced a new set of privacy controls Wednesday in an attempt to quell criticism that it was lax about protecting users’ personal information.

The new controls are featured in a streamlined privacy panel that allows users much easier management of who can access their information.
“We believe in privacy. … Read this article on Gaea Times at : Facebook overhauls privacy settings.

Slaughterhouse lawyer testifies in trial of manager accused of child labor violations in Iowa

Slaughterhouse lawyer testifies about child labor

WATERLOO, Iowa – A Des Moines attorney who once represented a kosher slaughterhouse testified Wednesday that state labor inspectors didn’t give the company a list of suspected underage workers before a 2008 immigration raid in which 389 illegal immigrants, including children, were detained.
Attorney Mary Funk testified for former plant manager …. Original article on Gaea Times at  : Slaughterhouse lawyer testifies in trial of manager accused of child labor violations in Iowa.

Reliance Infra transfers 433 MW capacity to Reliance Power

MUMBAI – The Anil Dhirubhai Ambani group controlled Reliance Infrastructure has transferred 433 MW of power generation capacity valued at Rs.1,095 crore to another firm in the group, Reliance Power.

The transferred assets comprise 220 MW at Samalkot in Andhra Pradesh, 165 MW in Kerala and 48 MW in Goa.
“With this acquisition and commissioning of … Read more >>>.

Vaiko fumes over dam, Kerala calls him ignorant

PALAKKAD – Tamil Nadu MDMK leader Vaiko Friday warned Kerala not to pull down the Mullaperiyar dam, but the state’s Left Democratic Front accused him of whipping up needless passions.

The MDMK blocked all vehicular traffic at 12 points on the Kerala-Tamil Nadu border and said the Kerala government should not construct a new dam in …. Source article on Gaea Times at  : Vaiko fumes over dam, Kerala calls him ignorant.

Food inflation eases to 16.23 percent

NEW DELHI – India’s annual food inflation dipped to 16.23 percent for the week ended May 22 from 16.49 percent in the previous week, official data released Thursday showed.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed both food and non-food index dropped 0.1 percent each during the week … Read : Food inflation eases to 16.23 percent.

Pakistan’s 2010-11 budget to levy fresh taxes of $1.6 bn: Report

ISLAMABAD – Pakistan’s budget for fiscal 2010 beginning July 1 will levy fresh taxes of Rs.138 billion to mop up Rs.1,650 billion through various levies, a media report Friday said.

The proposals also include relief of Rs.5 billion on salaries and electricity consumption, Dawn said.
The proposals, prepared by a revenue advisory committee in consultation with … Read more >>.

Air India says all operations restored to normal

MUMBAI – All operations of Air India have been restored to normal two days after a crippling strike by some 15,000 employee was called off, the national carrier announced Friday.

“Our operations have been restored 100 percent, with all the employees reporting back to work,” a spokesperson said adding the carrier’s top management also intends … Read more »».

Marriott International spends $160,000 in first quarter to lobby federal government

Marriott spends $160K in 1Q lobbying
WASHINGTON – Marriott International Inc. spent $160,000 in the first quarter to lobby on travel issues and the economy, as well as other matters, according to a recent disclosure report.

That’s less than the $200,000 the company spent in the fourth quarter on lobbying, and the $190,000 it spent in the … Read more >>>.

Tata Motors profit surges

MUMBAI – Tata Motors, India’s top vehicle maker, beats market estimates with a surge in March quarter earnings, helped by rising sales and profitability at its Jaguar Land Rover (JLR) unit.

The leading maker of trucks and buses is riding a surge in demand at home, but said … Original article on : Tata Motors profit surges.

Cold, what cold? NFL owners pick NJ for outdoor 2014 Super Bowl (You got a problem with that?)

Brr! NFL going outdoors in NJ for 2014 Super Bowl

IRVING, Texas – Check the antifreeze, grab the mittens, make sure the airport’s not snowed in.
We’re going to the Super Bowl.
In New Jersey. In February!
NFL owners voted Tuesday to put the 2014 Super Bowl in the new $1.6 billion Meadowlands Stadium that this season will become …. Source  : Gaea News Network.

Bill from Okla. House committee would put state agencies’ attorneys under AG’s office

Bill would put Okla. agencies’ lawyers under AG

OKLAHOMA CITY – An Oklahoma House budget panel on Wednesday approved a plan to save some money by transferring authority for state agencies’ lawyers to the attorney general’s office.
If implemented, the bill is expected to save the state an estimated $10 million annually by reducing the number of …. Source  : Gaea News Network.

Stocks dip as investors remain jittery about Europe’s financial strength; euro falls

Stocks open lower on continued European worries

NEW YORK – Stocks are falling as investors remain jittery about the strength of Europe’s financial sector and economy.
The drop comes even as major European indexes have recovered much of their early morning losses Monday.
Investors remain concerned about Europe’s financial stability. The Bank of Spain had to bail out …. Source  : Stocks dip as investors remain jittery about Europe’s financial strength; euro falls.

Obama administration urges court to throw out Virginia’s lawsuit against new health care law

Administration urges end to Va health care suit

WASHINGTON – The Obama administration is urging dismissal of Virginia’s lawsuit against the new health care law, arguing that Congress acted well within its authority when it passed the legislation.
A court filing late Monday in Richmond, Va., is the first by the administration in response to court challenges …. Original article on Gaea Times at  : Obama administration urges court to throw out Virginia’s lawsuit against new health care law.

Fed’s Bullard: Europe debt crisis unlikely to spark another global recession

Bullard: Europe’s woes unlikely to spur recession

WASHINGTON – A Federal Reserve official says the European debt crisis isn’t likely to throw the global economy back into a recession.
James Bullard, president of the Federal Reserve Bank of St. Louis, says the turmoil “will probably fall short of becoming a worldwide recessionary shock.”
He says that in the …. Source article on Gaea Times at  : Fed’s Bullard: Europe debt crisis unlikely to spark another global recession.

Governors of 3 big states urge FCC to allow Comcast to take controlling stake in NBC

3 governors urge FCC to allow Comcast-NBC deal

WASHINGTON – The governors of three large states are urging federal regulators to let Comcast Corp. proceed with its plan to take a controlling stake in NBC Universal.
In a letter to the Federal Communications Commission, Governors David Paterson of New York, Arnold Schwarzenegger of California and Ed Rendell …. Source  : Gaea News Network.

Chandigarh to get country’s first PDS smart cards

CHANDIGARH – Chandigarh will soon become the first city in the country to

distribute smart card-based ration cards to below poverty line (BPL) families who benefit from the Public Distribution System (PDS).
HCL Infosystems, a hardware, services and ICT system integration company, has bagged the order to implement the project.
The smart cards will capture all …. Original article on Gaea Times at  : Chandigarh to get country’s first PDS smart cards.

No need to worry about Super Bowl weather, but NFL wins with vote anyway

Super Bowl vote shows NFL power
The biggest surprise about the New York area landing a Super Bowl turned out to be that the NFL owners were more concerned about the cold than they should have been.

It took four ballots to declare the Meadowlands a winner, which seemed about three too many considering the Jets and … Read more : No need to worry about Super Bowl weather, but NFL wins with vote anyway.

Treasury names private equity exec Magner to gov’t-owned Ally Financial board of directors

Treasury names board member to Ally Financial

NEW YORK – The Treasury Department has named a new member to the board of the government-owned Ally Financial Inc., the consumer lending company said Wednesday.
Marjorie Magner, a founding member and partner at private equity firm Brysam Global Partners and a former executive at Citigroup Inc., became a board … Original article on : Treasury names private equity exec Magner to gov’t-owned Ally Financial board of directors.

Judge delays some decisions in Texas Rangers’ bankruptcy case after creditors’ objections

Creditors voice concerns over Rangers’ bankruptcy

FORT WORTH, Texas – A bankruptcy judge says he doesn’t want the Texas Rangers “to go hungry” during the team’s bankruptcy case but that a resolution may not come as quickly as the baseball club wants.
The day after the Rangers filed for Chapter 11 bankruptcy protection, U.S. Bankruptcy Judge D. … Read the original article on Gaea Times at : Judge delays some decisions in Texas Rangers’ bankruptcy case after creditors’ objections.

Manpower jumps after Barclays upgrades, says Europe’s debt crisis won’t be big hit to business

Barclays upgrades Manpower after stock sell-off

NEW YORK – Shares of Manpower Inc. rose Wednesday as a Barclays analyst upgraded the company after a stock sell-off, saying fears of a deep hit to Manpower’s staffing business because of Europe’s debt crisis are overblown.
THE SPARK: Analyst Gary Bisbee his rating to “Overweight” from “Equal Weight,” citing a … Original article on : Manpower jumps after Barclays upgrades, says Europe’s debt crisis won’t be big hit to business.

Economist: hiked value of US dollar caused by Europe debt crisis hurting Wyo. energy prices

Economist: Europe debt hurting Wyo. energy prices

CHEYENNE, Wyo. – The state’s economy will benefit if Greece and other European countries don’t default in their debt crisis and if their government spending is reduced, an economist said Tuesday.
Creighton University economist Ernie Goss said Wyoming’s economy should improve if the value of the dollar comes down, which … Read : Economist: hiked value of US dollar caused by Europe debt crisis hurting Wyo. energy prices.

Juggling act: small businesses rebuilding this summer have to work around employees vacations

Companies juggle rebuilding, employee vacations

NEW YORK – Small business owners may feel in a bit of a bind this summer. Just as many companies are recovering from the recession and making do with fewer staffers, it’s high season for employee vacations.
Owners may feel anxiety and resentment when workers say they want time off. They may …. Source  : Juggling act: small businesses rebuilding this summer have to work around employees vacations.

UnitedHealth boosts dividend sharply, may invite criticism amid hotly contested health costs

Insurer UnitedHealth sharply raises dividend

INDIANAPOLIS – UnitedHealth Group is sharply raising the dividend it pays shareholders, a move that may fuel criticism of an industry that has reaped strong profits while health care costs have soared.
UnitedHealth, which is the largest publicly-traded health insurer based on revenue, will spend about $560 million over the next 12 …. Source article on Gaea Times at  : UnitedHealth boosts dividend sharply, may invite criticism amid hotly contested health costs.

Amazon and Penguin reach e-book pricing agreement; new Penguin e-books to be sold on Amazon

Amazon and Penguin make e-book pricing deal

SAN FRANCISCO – Amazon.com Inc. and book publisher Penguin Group reached an agreement regarding the pricing of Penguin’s electronic books, the online retailer and book publisher said Wednesday.
With the new agreement, which both companies declined to detail, Penguin’s newest e-books will begin selling through Amazon. In April, Penguin halted … Read this article on Gaea Times at : Amazon and Penguin reach e-book pricing agreement; new Penguin e-books to be sold on Amazon.

Gov’t says 89 reported deaths linked to Toyota unintended acceleration

Gov’t: 89 deaths tied to Toyota acceleration

WASHINGTON – Unintended acceleration in Toyota vehicles may have been involved in the deaths of 89 people over the past decade, upgrading the number of deaths possibly linked to the massive recalls, the government said Tuesday.
The National Highway Traffic Safety Administration said that from 2000 to mid-May, it had …. Original article on Gaea Times at  : Gov’t says 89 reported deaths linked to Toyota unintended acceleration.

NFL owners pick Meadowlands in NJ for 2014 Super Bowl, first time cold site will host the game

Brr! NFL owners pick NJ for 2014 Super Bowl

IRVING, Texas – Check the antifreeze, grab the mittens, make sure the airport’s not snowed in.
We’re going to the Super Bowl.
In New Jersey!
NFL owners voted Tuesday to put the 48th Super Bowl in the new $1.6 billion Meadowlands Stadium that this season will become home to the …. Original article on Gaea Times at  : NFL owners pick Meadowlands in NJ for 2014 Super Bowl, first time cold site will host the game.

Appeals court temporarily blocks order that Tennessee Commerce Bancorp take back fired CFO

Appeals court blocks order that Tenn bank keep CFO

NASHVILLE, Tenn. – A federal appeals panel has temporarily blocked a court order that would impel Tennessee Commerce Bancorp to reinstate the chief financial officer that it fired.
A three-judge panel of the U.S. Court of Appeals for the Sixth Circuit issued a preliminary injunction Tuesday that reverses … Original article on : Appeals court temporarily blocks order that Tennessee Commerce Bancorp take back fired CFO.

Crystal Bowersox’ path to ‘Idol’ fame gives her Ohio hometown reason to smile in tough times

‘Idol’ finalist connects with struggling hometown

TOLEDO, Ohio – She’s a bit rough around the edges with blue collar roots.
“American Idol” finalist Crystal Bowersox is a lot like the Ohio towns where she grew up, and her unlikely path to stardom has hit just the right note with people in an area that has fallen on [..] Read the original article: here.

Trans fats are gone, and many foods didn’t get worse as feared, report says

Report: Trans fat limits lead to healthier foods

LOS ANGELES – Holy fish sticks! Scientists finally have some good news about fat in our foods.
Contrary to fears, most food manufacturers and restaurants did not just swap one bad ingredient for another when they trimmed artery-clogging trans fats from products and menus, an analysis finds.
Even the french … Read more »».

Fannie Mae: Delinquency rate for some home loans dipped in March; apartment mortgages worsened

Fannie Mae: Rate of late home loans eased in March

WASHINGTON – Fannie Mae said Thursday the rate for single-family home loans behind in payments by at least 90 days dipped slightly between February and March. But the rate of serious delinquencies for mortgages on apartment buildings worsened.
The government-controlled lender said its conventional single-family serious delinquency … Read more >>>.

Product Recalls: boys’ hooded jackets, basketball-shaped furniture sets, girls’ coats

Recalls: jackets, basketball chairs, girls’ coats

The following recalls have been announced:
-About 200 boys hooded jackets, made in China and distributed by Hind Fashions of New York, because the jackets have a drawstring through the hood that can pose as a strangulation hazard to children. No incidents or injuries have been reported. This recall involves boys … Read more »».

Former NFL commissioner Paul Tagliabue says Big East won’t wait for Big Ten to make moves

Tagliabue says Big East is being proactive

DE PERE, Wis. – Former NFL commissioner Paul Tagliabue thinks the Big East Conference is being proactive about its future and sees cable giant ESPN as the key player in any long-term decisions the 16-member conference will make.
With conference expansion rumors swirling and Big Ten commissioner Jim Delany perhaps … Read more »».

Belmont, Saratoga, Aqueduct to keep running thanks to $25 million loan from state

NY tracks to stay open after state loan of $25M

ALBANY, N.Y. – The Belmont, Saratoga and Aqueduct racetracks will stay open after New York’s thoroughbred racing operator received a $25 million loan from the state.
The New York Racing Association notified more than 1,400 workers last week that the cash-strapped racing operator might have to close …. Original article  : Belmont, Saratoga, Aqueduct to keep running thanks to $25 million loan from state.

Money Market Operations as on May 26, 2010

…. Source article on Gaea Times at  : Money Market Operations as on May 26, 2010.

Oil hovers near $72 in Asia as investors mull how much Europe slowdown will hurt demand

Oil hovers near $72 as traders mull Europe impact

SINGAPORE – Oil prices rose to near $72 a barrel Thursday in Asia as investors mulled the impact slower European economic growth could have on global crude demand.
Benchmark crude for July delivery was up 38 cents to $71.89 a barrel at midday Singapore time in electronic trading …. Source article  : Oil hovers near $72 in Asia as investors mull how much Europe slowdown will hurt demand.

Russia to make new electric trains with Germany

Moscow, May 28 (IANS/RIA Novosti) Russia will produce the next generation electric trains with the help of a German rail company.

Russia’s railway firm RZD, high-speed train service Aeroexpress, and Germany’s Siemens have signed a deal to manufacture the new electric trains which will be powered by electric motors and magnatic elements.
The document was signed …. Original article on Gaea Times at  : Russia to make new electric trains with Germany.

Tour of Missouri canceled amid budget woes; race once a top stop for world’s best riders

Tour of Missouri canceled amid budget woes

JEFFERSON CITY, Mo. – Organizers of the Tour of Missouri have canceled this year’s bicycle race after state tourism officials declined to help fund it.
Tour of Missouri chairman Mike Weiss said Thursday that organizers pulled the plug on the race after Gov. Jay Nixon’s administration refused to support it.
The … Read more : Tour of Missouri canceled amid budget woes; race once a top stop for world’s best riders.

Unexpected benefit of turmoil in Europe and markets: Mortgage rates near record low

Mortgage rates are back near record low
WASHINGTON – Turmoil in the stock market and the European debt crisis are making life easier for American homebuyers and families looking to refinance: Mortgage rates are inching closer to a record low.

The window of opportunity may close soon. Home loan rates will rise if investors grow more confident … Read more »».

NY court dismisses Costa Rican photogs’ lawsuit against NFL’s Tom Brady, model Gisele Bundchen

NY court dismisses suit against Brady, Bundchen

NEW YORK – A New York judge has dismissed a lawsuit by two photographers who said they were shot at by bodyguards of New England Patriots quarterback Tom Brady and Brazilian supermodel Gisele Bundchen (jih-ZEHL’ BUN’-chen).
The April 2009 incident occurred during a party in Costa Rica celebrating the couple’s … Read more »».

IWC chief optimistic nations can settle whaling deal; US says difficult negotiations remain

Head of IWC optimistic on whaling deal
WASHINGTON – The head of the International Whaling Commission is optimistic that nations gathering in Morocco next month can settle a long-running dispute over whale hunting.

But a senior U.S. official says there are difficult negotiations ahead over a contentious IWC proposal that would effectively allow commercial whaling for the … Original article on : IWC chief optimistic nations can settle whaling deal; US says difficult negotiations remain.

J. Crew Group doubles net income in first quarter, raises guidance for fiscal year

J. Crew doubles 1Q net income, raises guidance

NEW YORK – Catalog retailer J. Crew Group Inc. doubled its first-quarter net income as revenue soared nearly 20 percent and raised its guidance for the year above estimates.
The clothing retailer said Thursday it earned $44.7 million, or 68 cents per share, in the three months that ended …. Original article on Gaea Times at  : J. Crew Group doubles net income in first quarter, raises guidance for fiscal year.

Summary Box: Home sales, manufacturing lift economy in April

Summary Box: Home sales lift economy in April

ORDERS UP: Orders for large manufactured goods increased 2.9 percent in April on rising demand for commercial aircraft.
HOUSING SALES: Sales of new single-family homes surged 14.8 percent as buyers rushed to take advantage of expiring tax credits.
OUTLOOK: Economists say the second quarter has gotten off to a good … Read the original article on Gaea Times at : Summary Box: Home sales, manufacturing lift economy in April.

Shutdown hits life in Telangana, bus services halted

HYDERABAD – Hundreds of commuters were stranded as government-run bus services came to a halt in Telangana Saturday after mobs attacked vehicles in several places during a daylong shutdown called by pro-Telangana groups against the firing on protesters in Warangal district, officials said.

At least six private buses and one state-owned Road Transport Corporation (RTC) bus …. Source article on Gaea Times at  : Shutdown hits life in Telangana, bus services halted.

Jindal finally enters Nepal’s hydropower sector

KATHMANDU – After Indian infrastructure company GMR broke the ice in Nepal’s hydropower sector and entered the Himalayan republic with a licence to develop the 900 MW Upper Karnali hydropower project, a string of other Indian firms have turned their attention to Nepal, with GMR’s competitor Jindal being the latest entrant.

Jindal, which had even gone …. Original article  : Jindal finally enters Nepal’s hydropower sector.

Sensex rises in tandem with world markets (Weekly market review)

MUMBAI – Indian equities advanced this week as concern about the euro zone debt crisis eased a bit after China assured the world it was not selling European bonds and investors and traders indulged in some bottom fishing after last week’s sell-off.

Market sentiment was also boosted by a rapprochement between the Ambani brothers. Mukesh …. Source  : Gaea News Network.

Chinese tobacco industries target women consumers

NEW DELHI – Chinese tobacco industries have now shifted their focus to women as their targets for selling cigarettes, creating a surge in the number of women smokers in the country.

The 2010 China Tobacco Control Report says that 3 …. Source  : Gaea News Network.

BP, Western Union, Costco, Yahoo, Tiffany among big market movers Thursday

BP, Western Union, Costco, Yahoo among big movers

NEW YORK – Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
BP PLC, up $2.97 at $45.38
The Coast Guard and BP said an untested procedure to stop the massive Gulf oil spill by injecting mud seemed to be working.
Western … Original article on : BP, Western Union, Costco, Yahoo, Tiffany among big market movers Thursday.

House approves proposal to end ‘don’t ask, don’t tell;’ Senate panel also votes for repeal

House votes to repeal ‘don’t ask, don’t tell’
WASHINGTON – The House has voted to repeal the 1993 law known as “don’t ask, don’t tell” and allow gays to serve openly in the military.
The House vote Thursday came several hours after the Senate Armed Services Committee took the same course and approved a measure …. Original article  : House approves proposal to end ‘don’t ask, don’t tell;’ Senate panel also votes for repeal.

After devastating fire, Universal Studios gets its own happy ending with reopening of backlot

Universal gets happy ending with new backlot

UNIVERSAL CITY, Calif. – Hollywood loves a sequel, and Universal Studios got one of its own.
The studio officially reopened its new backlot on Thursday, two years after a fire decimated the popular filming area.
The $200 million project will once again allow filmmakers to shoot on the streets of New … Read the original article on Gaea Times at : After devastating fire, Universal Studios gets its own happy ending with reopening of backlot.

Obama, Senate GOP talk border security budget durkng ‘frank’ private meeting

Obama, Senate GOP, talk border security, budget
WASHINGTON – President Barack Obama and Senate Republicans called a high-noon cease-fire in their long-running political feud Tuesday, holding a rare, private meeting on Capitol Hill to discuss what legislation can be achieved during this volatile election year.
“We want to see if we can get some more … Read the original article on Gaea Times at : Obama, Senate GOP talk border security budget durkng ‘frank’ private meeting.

Road construction at Zion National Park to shut down east entrance on weekdays until Oct. 28

Road work at Zion park to close east entrance

SALT LAKE CITY – Major road work starting June 7 will shut down Zion National Park’s east entrance at times.
The national park says the Mount Carmel Junction Road will be closed weekdays from 9 a.m. to 4 p.m. until Oct. 28.
It’s the first major reconstruction since state … Read the original article on Gaea Times at : Road construction at Zion National Park to shut down east entrance on weekdays until Oct. 28.

Survey finds most big companies plan to keep offering health benefits despite reform costs

Survey: Big companies expect reform to raise costs

INDIANAPOLIS – Big companies think health care reform will hike their costs, but most expect to continue offering subsidized benefits to workers, according to a new Towers Watson study.
The benefits consultant surveyed 661 companies this month and found that 94 percent of those that responded believe the reform … Read this article on Gaea Times at : Survey finds most big companies plan to keep offering health benefits despite reform costs.

Iberdrola selling 3 natural gas utilities; proceeds to finance Maine power grid improvements

Iberdrola deal to finance Maine power grid upgrade

PORTLAND, Maine – The parent company of Central Maine Power is selling three natural gas utilities in New England to help pay for a $1.4 billion power grid upgrade in Maine that’s aimed at assuring reliability and creating capacity for future wind power projects in the state.
Utility company …. Source  : Gaea News Network.

Questions over MLS players caused Klinsmann to break off US talks

Klinsmann broke off US talks partly over MLS

BRISTOL, Conn. – Juergen Klinsmann broke off talks to become coach of the U.S. soccer team in 2006 because he wasn’t guaranteed top players the following summer for two preparation tournaments ahead of World Cup qualifying.
The former German national team coach, who will be an ESPN analyst for … Read : Questions over MLS players caused Klinsmann to break off US talks.

UK regulator criticizes Kraft Inc. for promising to keep Cadbury factory open, later recanting

UK regulator criticizes Kraft on Cadbury takeover

LONDON – The British agency which regulates business takeovers on Wednesday criticized U.S. food company Kraft Inc. for promising to keep a Cadbury factory open, then changing its mind after taking control of the British chocolate company.
The Takeover Panel Executive said Kraft did not have a reasonable basis to … Read more »».

Summary Box: Surging home sales likely to fizzle despite low rates

Summary Box: Home sales rise but may soon fizzle

HOME SALES RISE: A now-expired homebuyer tax credit and low mortgage rates helped boost sales of previously occupied homes by 7.6 percent in April.
MORTGAGE RATES FALL: Worries over the European debt crisis have sent investors into the safety of U.S. Treasury bonds. As a result, the average … Read more »».

Animal welfare group: Video shows Ohio cows beaten with crowbars, stabbed with pitchforks

Welfare group: Hidden video shows Ohio cows beaten

CLEVELAND – An animal welfare group said Tuesday that a graphic video it secretly recorded shows workers at a dairy farm beating cows with crowbars, stabbing them with pitchforks and punching them in their heads.
The video was recorded in an undercover investigation at Conklin Dairy Farms Inc., said …. Original article on Gaea Times at  : Animal welfare group: Video shows Ohio cows beaten with crowbars, stabbed with pitchforks.

Earnings roundup: Toll Brothers income nearly doubles, Sigma Designs 1Q profit drops 59 pct

Earnings roundup: Toll Brothers, Sigma Designs

Among the earnings stories for Wednesday, May 26, from AP Financial News:
SAN JOSE, Calif. (AP) – VeriFone Systems Inc.’s fiscal second-quarter net income nearly doubled as its technology helped process more electronic payments to businesses and government agencies.
MILPITAS, Calif. (AP) – Chip designer Sigma Designs Inc. said that its first-quarter … Read more : Earnings roundup: Toll Brothers income nearly doubles, Sigma Designs 1Q profit drops 59 pct.

Crystal Bowersox’ hometown fans say ‘American Idol’ runner-up still a winner in their eyes

‘Idol’ runner-up still hero in struggling hometown

TOLEDO, Ohio – Crystal Bowersox’ second-place finish on “American Idol” didn’t change how people on her home turf feel about her.
“She’s already won” said Judi Clapper, 60, of Whitehouse, who watched the results of the Fox singing competition Wednesday night at one of the bars where Bowersox first started … Read the original article on Gaea Times at : Crystal Bowersox’ hometown fans say ‘American Idol’ runner-up still a winner in their eyes.

IMF sees economic rebound in Mideast, North Africa on oil’s strength, warns over banks

IMF: Mideast, NAfrica economies rebounding in 2010

CAIRO – Mideast and North African oil exporters will see a “strong recovery” in 2010, pulled ahead by increasing capital inflows and oil prices, the International Monetary Fund said Tuesday even as it lowered its projection for the countries’ growth amid a sharp drop in oil prices and worries … Read more »»».

Analyst sees Origin Agritech shares more than doubling as revenue, market share grow

Analyst expects Origin Agritech shares to rise

NEW YORK – Shares of Origin Agritech Ltd. jumped more than 20 percent Monday after a Rodman & Renshaw analyst raised his price target on the Chinese agricultural biotechnology company’s stock.
Analyst Lewis Fan said the bioengineered hybrid seed market is expected to double over the next five years. So, …. Source article on Gaea Times at  : Analyst sees Origin Agritech shares more than doubling as revenue, market share grow.

Asia stocks rebound, but investors wary of Europe debt crisis, Korean tension

Asian stocks up, but traders wary on Europe, Korea

SINGAPORE – Asian stock markets rebounded Wednesday on bargain-hunting following steep losses, but investors traded with caution on growing fears that Europe’s debt crisis could hamper global economic growth.
Oil, meanwhile, rose above $69 a barrel as a drop in U.S. gasoline supplies and gains in stock markets … Read : Asia stocks rebound, but investors wary of Europe debt crisis, Korean tension.

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.

India economy grew 8.6 percent in Jan-Mar quarter, best in 2 years as manufacturing rebounds

India’s economy grows at fastest pace in 2 years
MUMBAI, India – A rebound in manufacturing and recovering farm output drove India’s quarterly economic growth to 8.6 percent, the best in two years as Asia’s third-largest economy returns to pre-crisis levels of expansion.
Growth for the financial year ended March was 7.4 percent, beating a … Read more »».

The Container Store To Debut In Indianapolis

INDIANAPOLIS (GaeaTimes.com)- The Container Store, one of the world’s largest retail stores is set to open its first store in the city of Indianapolis. The new shop may soon be seen in the Rivers Edge area of the 82nd Street at Dean Road inside a shopping area near Lake Clearwater. The Kite Realty Group …. Source article on Gaea Times at  : The Container Store To Debut In Indianapolis.

Punj Lloyd Declares Q4 Results

MUMBAI, INDIA (GaeaTimes.com)- Punj Lloyd has announced it’s Q4 (fourth quarter) results for FY10 (Financial Year 2010). Reportedly, the consolidated loss of Punj Lloyd was said to be a total amount of Rs 301 crore which is slotted against the total loss of Rs. 256 crore witnessed by the company.
The Q4 results as declared … Original source on Gaea Times at : Punj Lloyd Declares Q4 Results.

Sensex goes flat after brief spike

MUMBAI – A benchmark index for Indian equities Monday was trading on a flat note in afternoon trade after making modest gains on news that the economy grew at a robust 8.6 percent in the last quarter of 2009-10.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,872.17 points, was … Read the original article on Gaea Times at : Sensex goes flat after brief spike.

GOP sees prospects to gain governorships, especially in Midwest, Great Lakes region

GOP upbeat about gubernatorial prospects, Midwest
WASHINGTON – A political tail wind boosting their prospects, Republicans have significant opportunities to gain governorships across the Great Lakes and Midwest this fall. But, in a wrinkle to their coast-to-coast victory plan, the GOP is struggling with internal fights in a handful of primaries, giving …. Original source  : GOP sees prospects to gain governorships, especially in Midwest, Great Lakes region.

In spite of brighter economic outlook, many people still feeling stress over debt, joblessness

Debt-induced stress continues for many Americans

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 …. Read the original article  : here.

Ex-defense minister dominates Colombia presidential vote, faces Green Party outsider in runoff

Colombia runoff: ex-defense minister vs. Mockus

BOGOTA, Colombia – A former defense minister from an elite political clan fell just short of a first-round victory in Colombia’s presidential elections while trouncing his closest rival, an unorthodox Green Party candidate.
Juan Manuel Santos, who helped craft the wildly popular security policies of outgoing President Alvaro Uribe, won 47 … Original article on : Ex-defense minister dominates Colombia presidential vote, faces Green Party outsider in runoff.

Reports: Japanese leader supports SKorean plans to bring NKorea to UN Security Council

Japan PM backs Seoul’s UN bid to punish NKorea
TOKYO – Japan’s prime minister told his Chinese counterpart Monday that he supports Seoul’s plans to bring North Korea before the U.N. Security Council for sanctions or condemnation for the alleged sinking of a South Korean warship, an official said.
The two countries also agreed … Read more >>.

First Indo-US Track II discourse to push collaborative ideas

WASHINGTON – A first of its kind Track II discourse will follow the June 3 inaugural India-US strategic dialogue to push forward ideas emerging from the government-to-government conversation, according to a leading Indian business body.

Indian External Affairs Minister S.M. Krishna and US Secretary of State Hillary Clinton would lead Thursday’s official talks focusing on five …. Read the original article  : here.

India grows 8.6 percent in fourth quarter

NEW DELHI – The Indian economy grew by 8.6 percent during the quarter ended March 31, lifting the annual gross domestic product (GDP) for 2009-10 to 7.4 percent, official data released Monday showed.

And Finance Minister Pranab Mukherjee said he expected the growth momentum to continue and the economy would expand at 8.5 percent in the …. Original source  : India grows 8.6 percent in fourth quarter.

Sweden’s Oriflame targets 30 new products a month in high-growth India

NEW DELHI – Swedish personal care company Oriflame plans to launch 25-30 products every month and engage 50,000 more people to tap the booming Indian cosmetics market, already a $5.4 billion industry growing at 12 percent per annum.

“In Asia, India is the most important market, besides China. In the coming year, I …. Original article  : Sweden’s Oriflame targets 30 new products a month in high-growth India.

Oil rises slightly to above $74 in Asia as traders look to US jobs report for clues to economy

Oil rises above $74 as US jobs report awaited

SINGAPORE – Oil prices rose above $74 a barrel Monday in Asia as traders look to a U.S. jobs report this week for clues about the strength of the global economic recovery.
Benchmark crude for July delivery was up 49 cents at $74.46 a barrel at late afternoon …. Original source  : Oil rises slightly to above $74 in Asia as traders look to US jobs report for clues to economy.

Sensex volatile in early trade

MUMBAI – A benchmark index for Indian equities Monday was trading in a zig-zag manner in morning trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,872.17 points, was ruling at 16,875.98 points, 12.92 points or 0.08 percent up from its previous close at 16,863.06 points.
At the National Stock …. Original article on Gaea Times at  : Sensex volatile in early trade.

Money Market Operations as on May 28, 2010

…. Original article on Gaea Times at  : Money Market Operations as on May 28, 2010.

India, China should take care of each other’s concerns: Patil

SHANGHAI – India and China need to develop models of economic cooperation which will take into account each other’s concerns, President Pratibha Patil said here Monday.

On the last day of her six-day state visit, she spoke to a group of Indian and Chinese businessmen at the India-China business forum and urged them to further boost …. Original article on Gaea Times at  : India, China should take care of each other’s concerns: Patil.

Mexico oil spill: US prepares for worst

WASHINGTON – The US government is preparing for a months-long disaster in the Gulf of Mexico after the latest attempt by oil giant BP to plug a gushing well were declared a failure.

“What we’re doing is we’re going to hope for the best and prepare for the worst,” Carol Browner, an Obama energy advisor, told …. Read the original article  : here.

Fed chief says biggest challenge facing central banks is deciding when to tighten credit

Fed chief sees delicate dance ahead
WASHINGTON – The delicate task ahead for the Federal Reserve and other central banks is deciding when to start boosting interest rates and reeling in all the stimulus pumped out during the global financial crisis, Fed Chairman Ben Bernanke said Sunday.

Bernanke, however, didn’t provide any new clues on that front.
As …. Source  : Gaea News Network.

Come and take it! GOP Gov. Rick Perry answers campaign attacks with style that’s classic Texas

Come and take it! Perry fights attacks Texas style
AUSTIN, Texas – Rick Perry is governor of a state with a multibillion-dollar hole in the budget that’s getting bigger. The EPA wants to take away the state’s power to police the quality of its air. He’s the butt of jokes for spending tens of … Read the original article on Gaea Times at : Come and take it! GOP Gov. Rick Perry answers campaign attacks with style that’s classic Texas.

Still seeing red after protests end, Thai tourism industry seeking recovery, rehabilitation

Thai tourism seeking recovery from protest turmoil

BANGKOK – The Red Shirt anti-government protesters have gone home, but Thailand’s tourism industry is still seeing red.
Armed soldiers, smoky streets and looted stores were the sad finale to two months of street protests seeking to force new elections. Those images have lingered in many minds, especially for tourists, … Read more »».

Loss of Treasury minister ends short honeymoon for Britain’s coalition government

Expenses scandal troubles fledgling UK coalition

LONDON – After only 18 days at the helm, Britain’s young coalition government has lost a top finance minister to an expenses scandal just as it struggles to slash a record budget deficit and restore public trust in politics.
The abrupt resignation of David Laws, the deputy Treasury chief, reduced confidence …. Read the original article  : here.