Euro trades near 2-month highs despite downgrade for Ireland’s public debt

Euro hovers short of 2-month highs
BERLIN – The euro hovered a little short of two-month highs against the dollar on Monday, despite a rating agency’s downgrade for Irish government bonds, as concern persisted over prospects of slower U.S. growth.

The 16-nation currency slipped as low as $1.2872 before recovering to $1.2970 in morning European trading – … Original source on Gaea Times at : Euro trades near 2-month highs despite downgrade for Ireland’s public debt.

Rains hit Agra region, could salvage bajra crop

AGRA – Rains lashed the Agra region of Uttar Pradesh Monday after a long dry spell, reviving hopes of a good bajra crop this kharif season.

Farmers in the region had gone in for early sowing of bajra after the met department forecast good rains in July. But there was only 90 mm of rainfall till …. Read the original article  : Rains hit Agra region, could salvage bajra crop.

India, Pakistan showcase aviation wares at Farnborough airshow

FARNBOROUGH – Led by their respective state-run agencies, India and Pakistan are exhibiting their aviation wares at the Farnborough International Airshow that got underway Monday at this town, some 55 km from southwest of London.

India’s Hindustan Aeronautics Ltd (HAL) and the Pakistan Aeronautical Complex (PAC) are among 1,393 exhibitors from 40 countries taking part in …. Original article on Gaea Times at  : India, Pakistan showcase aviation wares at Farnborough airshow.

Clinton reveals new aid projects in Pakistan visit aimed at improving US image

Clinton reveals new aid projects in Pakistan visit

ISLAMABAD – U.S. Secretary of State Hillary Rodham Clinton sought Monday to convince skeptical Pakistanis that American interest in their country extends beyond the fight against Islamist militants by announcing a raft of new aid projects worth $500 million.
The projects, which include hospitals and new dams for badly … Read more >>>.

World shares retreat after Wall Street, consumer confidence tumble

World shares retreat after Wall Street tumble

BANGKOK – World stock markets fell Monday after U.S. consumer confidence plunged and corporate results fell short of expectations, signs the world’s biggest economy may be in danger of falling back into recession.
Oil prices fell slightly to below $76 a barrel as traders eyed falling global stocks markets ahead …. Source article on Gaea Times at  : World shares retreat after Wall Street, consumer confidence tumble.

Money Market Operations as on July 17, 2010

…. Original article on Gaea Times at  : Money Market Operations as on July 17, 2010.

Clinton unveils $500-mn aid projects for Pakistan

ISLAMABAD – US Secretary of State Hillary Rodham Clinton Monday announced more than $500 million worth of development projects for Pakistan that focus on improving water storage, the energy sector, food exports and medical facilities.

The aid, which is the part of a $7.5-billion five-year development package passed by the US Congress last year, aims at …. Source  : Clinton unveils $500-mn aid projects for Pakistan.

Swedish appliance maker Electrolux says Q2 profits rise by 56 pct due to cost savings

Electrolux Q2 profits rise, helped by cost savings

STOCKHOLM – Swedish appliance maker Electrolux AB on Monday said its net profit rose by 56 percent in the second quarter despite weaker sales as cost-saving initiatives started to bear fruit.
The company, based in Stockholm, said net profit totaled 1.03 billion Swedish kronor ($140 million), up from 658 …. Original article  : Swedish appliance maker Electrolux says Q2 profits rise by 56 pct due to cost savings.

Abu Dhabi firm, U.S. helicopter maker Sikorsky team up to service military aircraft in Mideast

Abu Dhabi, Sikorsky to service military aircraft

DUBAI, United Arab Emirates – A state-owned Abu Dhabi aircraft company is launching a joint venture with Sikorsky Aerospace Services to maintain and repair military aircraft across the Middle East.
Abu Dhabi Aircraft Technologies said its deal with Sikorsky is worth more than $800 million.
The new company will eventually be …. Read the original article  : here.

Moody’s cuts rating on Ireland’s government bonds due to weak economic outlook

Moody’s downgrades Irish government debt rating

DUBLIN – Moody’s ratings agency on Monday downgraded Irish government bonds by one notch due to a deteriorating economic outlook, a heavy debt burden and liabilities in the banking system.
Ireland was hit hard by the global financial crisis as a collapse in the property market nearly took down the banking … Read more »».

North Korea, Myanmar to dominate Southeast Asian security meetings in Vietnam

North Korea expected to steal ASEAN spotlight
HANOI, Vietnam – Tensions with North Korea are expected to overshadow Asia’s largest security forum this week in Vietnam – four months after 46 South Korean sailors were killed in the sinking of a warship that was blamed on Pyongyang.
The reclusive North, which has denied attacking the … Read the original article on Gaea Times at : North Korea, Myanmar to dominate Southeast Asian security meetings in Vietnam.

Demand lifts Electrolux Q2 profits

STOCKHOLM – Higher demand in several markets including North America helped lift second-quarter earnings, Swedish home appliance maker Electrolux said Monday.

Net profit, excluding items affecting comparability, was 1.1 billion kronor ($148 million), compared with 633 million kronor a year earlier.
Sales in the quarter were down 1 percent to 27.3 billion kronor.
Electrolux said the … Read more : Demand lifts Electrolux Q2 profits.

IRDA is micro managing life insurers: Experts

CHENNAI – The Insurance Regulatory and Development Authority (IRDA) seems to be trying to micro-manage the sector with its proposed measures on hiking the policy persistency (policy continuity/renewal) ratio, say life insurance industry experts.

In an exposure draft on persistency of life insurance policies, the IRDA has suggested a target of 20 policies per year for …. Source  : Gaea News Network.

Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis

Philips Q2 profits up on strong sales
THE HAGUE, Netherlands – Royal Philips Electronics NV, the world’s largest maker of lights, said Monday its second quarter profit rose sharply, thanks to strong sales at its lighting and consumer electronics divisions, particularly in emerging markets.

Net profit was euro262 million ($340 million), up from euro45 million in the … Original article on : Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis.

Abortion rights groups denounce Obama administration decision to deny coverage

Abortion foes win a round in health overhaul

WASHINGTON – Abortion foes have scored a victory and traditional allies of the Obama administration are grumbling about a decision to ban most abortion coverage in insurance pools for those unable to purchase health care on their own.
The Catholic bishops “welcome this new policy,” said Cardinal Daniel DiNardo, … Read the original article on Gaea Times at : Abortion rights groups denounce Obama administration decision to deny coverage.

Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis

Philips Q2 profits up on strong sales
THE HAGUE, Netherlands – Royal Philips Electronics NV, the world’s largest maker of lights, said Monday its second quarter profit rose sharply, thanks to strong sales at its lighting and consumer electronics divisions, particularly in emerging markets.

Net profit was ???262 million ($340 million), up from ???45 million in the …. Original article on Gaea Times at  : Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis.

Pa. Senate race underscores Democratic troubles with independent voters in midterm vote

Independents crucial to Dems’ election prospects
MEDIA, Pa. – Democrat Joe Sestak – a son of the Philadelphia suburbs – needs the independent voters in his backyard as he campaigns for a Senate seat in a swing state that may tilt Republican this year.
Independents have been turning away from President Barack Obama and … Read more »»».

La. biologist hopes to make crawfish boils part of football tailgating with different species

Louisiana biologist sees future in shrimp crawfish

NEW ORLEANS – Way down South, where football and food are close to religions, tailgate parties could turn into crawfish boils a few autumns from now if a Louisiana State University project works out.
“I certainly hope so. It would be a nice option to have,” said Greg Lutz, an … Read more >>>.

La. scientist hopes to make crawfish boils part of football tailgating with different species

Louisiana scientist sees future in shrimp crawfish

NEW ORLEANS – A Louisiana State University biologist hopes his work will bring crawfish boils to football tailgate parties within a few years.
Aquaculture specialist Greg Lutz is studying whether shrimp crawfish could be raised profitably, like the currently farmed red swamp and white river crawfish.
Those species are a staple [..] Read the original article: here.

Oil prices fall below $76 as investors mull stocks markets, corporate earnings

Oil prices fall below $76 as traders eye equities

SINGAPORE – Oil prices fell slightly to below $76 a barrel Monday in Asia as traders eyed falling global stock markets ahead of more key corporate earnings reports this week.
Benchmark crude for August delivery was down 13 cents to $75.88 a barrel at midday Singapore time in … Read the original article on Gaea Times at : Oil prices fall below $76 as investors mull stocks markets, corporate earnings.

European regional airline Flybe announces purchase of up to 140 Embraer aircraft

Euro carrier Flybe to buy up to 140 Embraer planes

FARNBOROUGH, England – European regional airline Flybe says it has signed a contract to buy 35 Embraer 175 aircraft from the Brazilian manufacturer in a $1.3 billion deal.
Flybe said Tuesday at the Farnborough International Airshow that it also signed up for options on a total of … Read more »»».

Sensex slips from morning high of 18,000 plus

MUMBAI – A benchmark index for Indian equities Tuesday slipped from its morning highs with the overall market turning sluggish in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,918.43 points, was ruling at 17,968.69 points, 40.27 points or 0.22 percent up from its previous close at 17,928.42 … Read more >>>.

China steps up crackdown on potentially dangerous ‘gutter oil’ skimmed from kitchen waste

China sounds alarm over filthy cooking oil

BEIJING – China has ordered food safety officials nationwide to step up the fight against “gutter oil” that is illegally skimmed from kitchen waste and resold, part of a government crackdown on foods tainted with potentially lethal substances.
China’s Cabinet, the State Council, said the black market trade in waste … Read the original article on Gaea Times at : China steps up crackdown on potentially dangerous ‘gutter oil’ skimmed from kitchen waste.

Those storm troopers are real! Costumed members of 501st Legion get ready to invade Comic-Con

Storm troopers get ready to invade Comic-Con

LOS ANGELES – On the outside, they all look the same: White armor, white helmets, black blaster rifles. Imperial soldiers from a galaxy far, far away, they’re loyal only to the Empire and recognizable everywhere as “Star Wars” storm troopers.
Inside, though, are different stories. Those armored clones are lovingly … Original article on : Those storm troopers are real! Costumed members of 501st Legion get ready to invade Comic-Con.

Optimistic start for Farnborough Air show fuels hope that worst is past for airlines

Air show fuels hope of better days for airlines

FARNBOROUGH, England – A flurry of orders for Airbus and Boeing signaled an optimistic start to the Farnborough International Airshow – and more are expected as the show enters its second day.
On Monday, deals worth more than $17 billion suggested the worst may be over for the … Read more : Optimistic start for Farnborough Air show fuels hope that worst is past for airlines.

R-Ifra bags Rs.3,000-crore Delhi-Agra road project

NEW DELHI – Anil Dhirubhai Ambani Group firm Reliance Infrastructure has signed an agreement with the National Highways Authority of India for developing the Rs.3,000 crore Delhi-Agra highway project.

“R-Infra has signed a concession agreement for six-laning of the 180-km stretch of the Delhi-Agra road project,” the company said in a statement.
The total … Original source on Gaea Times at : R-Ifra bags Rs.3,000-crore Delhi-Agra road project.

Afghanistan invites Indian firms to tap minerals

KABUL/NEW DELHI – Afghanistan has invited Indian companies to tap mineral deposits estimated to be worth up to $3 trillion, a move that is set to raise India’s stakes in reconstruction of the violence-torn country.

Afghan Minister for Minerals Wahidullah Shahrani met India’s External Affairs Minister S.M. Krishna in Kabul Monday night and welcomed Indian …. Source  : Afghanistan invites Indian firms to tap minerals.

Ryanair’s Q1 net profit falls 24 percent over business lost to volcanic ash, higher fuel costs

Ryanair Q1 profit falls over volcano, fuel costs

DUBLIN – Irish budget airline Ryanair reported a 24 percent drop in first-quarter net profit Tuesday, citing euro50 million ($65 million) in lost business from the Icelandic volcano as well as a rising fuel bill – but the carrier says it remains poised to keep expanding.
Net profit for …. Original article on Gaea Times at  : Ryanair’s Q1 net profit falls 24 percent over business lost to volcanic ash, higher fuel costs.

Indian-origin man offers world’s most expensive car wash

LONDON – An Indian origin man has started offering the world’s most expensive car wash service in Britain at 7,200 pounds.

Thirty-year-old car enthusiast Gurcharn Sahota takes up to 250 hours to systematically clean each vehicle with 100 cleaning fluids and wax and he ends up polishing the car inside and out five times.
He uses …. Original article  : Indian-origin man offers world’s most expensive car wash.

US sees big drop in child labour use by Indian carpet-makers

WASHINGTON – Finding sizeable drop in the use of child workers by India’s carpet industry, the US Labour Bureau has done away with the need for a guarantee from federal procurement agencies that such merchandise is free from child labour.

According to an official statement, after thorough third-party monitoring and detailed analysis of data collected on …. Read the original article  : US sees big drop in child labour use by Indian carpet-makers.

Backed by moderate Republicans, Democrats expect to extend jobless benefits with Senate vote

Democrats to give jobless benefits another vote
WASHINGTON – Millions of people stuck on the jobless rolls would receive an extension of unemployment benefits averaging $309 a week under a Senate bill that appears set to break free of a Republican filibuster.
Democrats have stripped the unemployment insurance measure down to …. Source  : Gaea News Network.

Trying to show he knows Americans’ woes, Obama points to himself to win support for agenda

For Obama, selling an agenda can get personal
WASHINGTON – Ever in search of the right face to humanize his agenda, President Barack Obama sure isn’t shy about using his own.
Never mind the limousine, the butlers and the presidential jet Obama has now. Or the Ivy League degrees and the millions of dollars in …. Source article  : Trying to show he knows Americans’ woes, Obama points to himself to win support for agenda.

AP-Univision Poll: For US Hispanics, high hopes blend with realism, deep economic stresses

AP-Univision Poll: US Hispanics mix hopes, strains

MIAMI – Yadilka Aramboles eyes her three young children playing on the sidewalk and sees college in their future – even though her husband’s modest accountant’s income barely covers the family’s most basic expenses.
“The situation is bad now, but I have faith that this is going to change,” says … Read more : AP-Univision Poll: For US Hispanics, high hopes blend with realism, deep economic stresses.

American Eagle is On the Rise

NEW YORK (GaeaTImes.com) — American Eagles are one of the costliest birds in the sky of economy. It is the official gold coin of USA govt. and is perhaps the most sought after coin in the world. The brand also includes coins of silver and platinum.
The reason that most of the people investing in … Read more : American Eagle is On the Rise.

Asian stocks mostly rise, shrugging off IBM result as China shares jump for second day

Asia markets mostly rise amid jump in China shares

BANGKOK – Asian markets mostly rose Tuesday, shrugging off weak U.S. corporate results as Chinese shares leapt for a second day amid expectations Beijing will moderate its efforts to cool the world’s No. 3 economy. European stocks were mostly lower.
Asia’s markets reversed course from a lackluster early … Read more : Asian stocks mostly rise, shrugging off IBM result as China shares jump for second day.

BlackBerry now touts Messenger to woo the young

TORONTO – Facing a fierce onslaught from Apple’s iPhone 4 and Google Android devices, BlackBerry maker Research In Motion (RIM) is pulling out all the stops to woo consumer and youth market.

The Waterloo-based Canadian wireless giant has just launched TV, Internet and poster ads to woo young people in North America by playing up its … Read more : BlackBerry now touts Messenger to woo the young.

SE Asian ministers urge Myanmar to hold free election; want to help bring NKorea back to talks

ASEAN urges Myanmar to hold free, fair election

HANOI, Vietnam – Southeast Asian foreign ministers gave Myanmar’s military-run government an “earful” while demanding that it hold free and fair elections – a rare stand by the cautious group often accused of overlooking rights abuses in member nations.
Foreign ministers from the 10-member Association of Southeast Asian Nations …. Read the original article  : here.

India shops for combat aircraft at Farnborough

FARNBOROUGH – Indian defence authorities, led by Minister of State for Defence M.M. Pallam Raju, are looking to see the international response to some of the latest multi-role combat aircraft on display at the Farnborough Air Show here which are being evaluated by India for upgrading its air force.

Pallam Raju is leading the Indian delegation, …. Source article on Gaea Times at  : India shops for combat aircraft at Farnborough.

Oil hovers below $77 as mixed signs from economy, stock markets extend July malaise

Oil hovers below $77 amid mixed signs on economy

SINGAPORE – Oil prices hovered below $77 a barrel Tuesday in Asia as crude traders wait for clearer signals on the strength of the global economy and stock markets.
Benchmark crude for August delivery was up 18 cents to $76.72 a barrel at late afternoon Singapore time in …. Source  : Gaea News Network.

ADB: China needs higher interest rates or stronger yuan to avoid inflation and ‘hard landing’

ADB: China may need rate hikes to avoid inflation

SINGAPORE – China should boost interest rates or allow its currency to strengthen to help curb inflation pressures, the Asian Development Bank said Tuesday.
China, like most Asian countries, boosted government spending and slashed lending rates last year to help spur economic growth amid a global recession. The …. Source  : ADB: China needs higher interest rates or stronger yuan to avoid inflation and ‘hard landing’.

Bangladesh to implement 14 projects with Indian loan

DHAKA – India and Bangladesh have finalised 14 infrastructure projects, including those that will enhance connectivity between the two countries, which will be implemented with an Indian loan of $1 billion.

Indian Prime Minister Manmohan Singh announced a line of credit of $1 billion during the visit of Bangladesh Prime Minister Sheikh Hasina in January for …. Source article  : Bangladesh to implement 14 projects with Indian loan.

Under people’s protest Jharkhand closes Koel-Karo project

RANCHI – Succumbing to people’s power, the Jharkhand government finally closed the ambitious 710 MW Koel-Karo hydro-electric project Tuesday, 37 years after its conception.

The Advisory Council of Governor put a seal of closure on the long-pending projects which could not take off due to protests by tribals facing displacement.
The state government … Read the original article on Gaea Times at : Under people’s protest Jharkhand closes Koel-Karo project.

Chilean airline to buy 50 new Airbus planes

Santiago, Jul 21 (IANS/EFE) Chile’s LAN Airlines has said it will buy 50 Airbus planes as part of a deal worth $4.15 billion between 2012 and 2016.

Under the agreement, the airline will buy A319, A320 and 210-seater A321 aircraft.
The new airplanes are “highly efficient” in fuel consumption, designed with advanced technology to help diminish …. Read the original article  : here.

Orders reach $25 billion so far at Farnborough Airshow as Day 3 gets under way

Farnborough Airshow orders reach $25 bln so far

FARNBOROUGH, England – Aircraft orders at the Farnborough International Airshow this week have reached $25 billion, indicating a rapid recovery in the sector, and more are expected on Wednesday.
Excitement about the strong start for the event has been dampened by a depressed outlook for defense sales, as many …. Original source  : Orders reach $25 billion so far at Farnborough Airshow as Day 3 gets under way.

NKorea’s top diplomat likely on damage control mission at Asian security meeting

North Korea to dominate Asia security meeting

HANOI, Vietnam – North Korea’s top diplomat will be on a damage control mission this week at an Asian security meeting, pleading innocent to the sinking of a South Korean warship that killed 46 sailors and has been widely blamed on Pyongyang, an analyst said Wednesday.
North Korean Foreign Minister … Read : NKorea’s top diplomat likely on damage control mission at Asian security meeting.

Sweeping financial overhaul about to become law; victory for Obama

Obama poised to sign sweeping financial overhaul
WASHINGTON – President Barack Obama aims to usher in a new era of consumer protections and banking restrictions Wednesday, checking off another legislative victory just before election-year politics overtakes the rest of his major agenda.
The president was set to sign a sweeping overhaul of financial regulations, a … Read the original article on Gaea Times at : Sweeping financial overhaul about to become law; victory for Obama.

Now a car that tweets

NEW YORK – Online blogging is a trendy communication tool not just for tech-savvy humans. Now your car can also send messages on Twitter and have more followers than even singer Lady Gaga and US President Barack Obama.

The car that can tweet is AJ, a future model of Ford Fiesta, which is a test bed …. Source article on Gaea Times at  : Now a car that tweets.

Sensex moves up to 18,000 amid positive Asian cues

MUMBAI – A benchmark index for Indian equities Wednesday noon moved further up from its opening trade highs and touched the 18,000 mark amid stable cues from other Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,873.92 points, was ruling at 18,000.78 points, 122.64 points or 0.69 percent … Read the original article on Gaea Times at : Sensex moves up to 18,000 amid positive Asian cues.

Italy’s Fiat returns to Q2 profit, approves separation of auto and industrial businesses

Fiat makes profit, approves split into 2 companies

MILAN – The Italian automaker Fiat, which controls Chrysler, on Wednesday reported a return to second-quarter profits on improved sales of agriculture equipment and trucks, and said it may raise its 2010 forecasts.
Fiat also said its board approved the plan to separate its industrial vehicle and auto businesses … Original article on : Italy’s Fiat returns to Q2 profit, approves separation of auto and industrial businesses.

Oakland City Council approves plan that would permit large-scale marijuana farms

Oakland votes to permit large pot farms
SAN FRANCISCO – The Oakland City Council has approved a plan to license four production plants where marijuana would be grown, packaged and processed, moving Oakland closer to becoming the first city in the nation to authorize wholesale pot cultivation.

The council voted 5-2 with one abstention late Tuesday in …. Read the original article  : Oakland City Council approves plan that would permit large-scale marijuana farms.

AgustaWestland unveils new-generation chopper at Farnborough

FARNBOROUGH – AgustaWestland, a Finmeccanica company, has unveiled a new generation multi-purpose twin-engine light transport helicopter that it says be used in India’s homeland security.

“We have been successful in India. I am sure there will be a market in India,” AgustaWestland communications manager Geoff Russell told IANS of the AW169 that was unveiled at the … Original source on Gaea Times at : AgustaWestland unveils new-generation chopper at Farnborough.

Police: 2 killed in attack on Russian hydropower station

Police: 2 killed in Russian power station attack

ROSTOV-ON-DON, Russia – Two carloads of assailants attacked a hydroelectric station in southern Russia on Wednesday, killing two workers and setting off bombs.
The attack took place in Kabardino-Balkariya, one of the republics in Russia’s restive Caucasus region where clashes with insurgents are frequent.
A spokesman for the republic’s police, …. Source  : Gaea News Network.

Some Gaza factories revive with easing of Israel’s blockade, but economic recovery far off

With blockade’s easing, some Gaza factories revive

BEIT HANOUN, Gaza Strip – Some of the hundreds of Gaza factories idled by Israel’s blockade are cranking up rusty machines to can tomatoes, mix concrete and press pills again now that Israel is allowing in raw materials for the first time in three years.
But Israel’s recent easing of …. Original article on Gaea Times at  : Some Gaza factories revive with easing of Israel’s blockade, but economic recovery far off.

Dhaka, Delhi finalise 14 projects worth $1 bn

DHAKA – Dhaka and New Delhi have finalised 14 development projects to be implemented with an Indian loan of $1 billion.

Both the countries will be directly benefited as some of the projects are aimed at enhancing connectivity between Bangladesh and India’s northeastern region.
The South Asian neighbours have been quick to follow up on the … Read more : Dhaka, Delhi finalise 14 projects worth $1 bn.

Vilsack says USDA will reconsider ouster of employee who resigned over race comments

USDA reconsiders employee ouster over race remarks
WASHINGTON – Agriculture Secretary Tom Vilsack said Wednesday he will reconsider the department’s decision to oust a black employee over racially tinged remarks after learning more about what she said.
Vilsack issued a short statement early Wednesday morning after Shirley Sherrod, who until Tuesday was … Original article on : Vilsack says USDA will reconsider ouster of employee who resigned over race comments.

Google shuts two online services in China

BEIJING – Internet search engine giant Google will shut down its two China-based online services and stop providing technical support to a Chinese-language website.

The company announced this decision Tuesday, 10 days after the Chinese government renewed Google’s licence to continue its operation in the country.
Google’s plan encompasses closure of a self-developed website ranking page … Original source on Gaea Times at : Google shuts two online services in China.

Oil hovers below $78 as US crude inventories fall less than expected

Oil hovers below $78 after small crude supply drop

SINGAPORE – Oil prices hovered below $78 a barrel Wednesday in Asia after a report showed U.S. crude supplies fell less than expected last week, suggesting demand for fuel remains tepid.
Benchmark crude for September delivery was down 10 cents to $77.48 a barrel at midday Singapore time … Original source on Gaea Times at : Oil hovers below $78 as US crude inventories fall less than expected.

Bernanke looks to reassure Congress that Fed will do what it takes to keep recovery alive

Fed chief focused on keeping recovery alive

WASHINGTON – Federal Reserve Chairman Ben Bernanke heads to Congress Wednesday with a message of reassurance: The Fed stands ready to take new steps to bolster the recovery if the economy worsens.
The Fed chief kicks off back-to-back appearances on Capitol Hill at a delicate time for the economy. The … Read the original article on Gaea Times at : Bernanke looks to reassure Congress that Fed will do what it takes to keep recovery alive.

Money Market Operations as on July 20, 2010

…. Original source  : Money Market Operations as on July 20, 2010.

Asian stock markets modestly as Apple’s quarterly earnings power gains in technology shares

Asia stocks rise as Apple result lifts tech sector

TOKYO – Asian stock markets posted mild gains Wednesday after better-than-expected earnings from technology bellwether Apple nudged Wall Street higher.
Japan’s Nikkei 225 stock average snapped a three-session losing streak during which the index lost 5 percent. The Nikkei finished the morning session up 0.2 percent at 9,321.65.
Hong …. Original article on Gaea Times at  : Asian stock markets modestly as Apple’s quarterly earnings power gains in technology shares.

World shares, dollar fall after Bernanke confirms fears US economy is slowing

World stocks, dollar fall on Bernanke economy view

SINGAPORE – World stock markets slid Thursday and the dollar fell, undermined by worries about the global recovery after Federal Reserve Chairman Ben Bernanke warned the U.S. economy faces uncertain prospects.
Bernanke told a congressional committee that the economic outlook is “unusually uncertain” and the economy is fragile. He … Read : World shares, dollar fall after Bernanke confirms fears US economy is slowing.

Sick of queuing? Hire someone to do it for you

KIEV – Queuing is part of everyday life in Ukraine. There are often hundreds of people standing in lines at government offices in the former Soviet republic.

But a young businessman is now making money off the undesirable task of waiting in line by supplying the market with professional queuers.
Nearly every morning, Igor stands in …. Source article  : Sick of queuing? Hire someone to do it for you.

NKorea warns US should halt sanctions, military exercises or risk placing region in danger

NKorea warns US exercises threaten region
HANOI, Vietnam – North Korea warned the United States and South Korea on Thursday to call off military exercises scheduled for this weekend and to back off any new sanctions against the communist country or risk placing the entire region in danger.

The warning issued on the sidelines of a meeting … Read more : NKorea warns US should halt sanctions, military exercises or risk placing region in danger.

Oil hovers below $77 as unexpected US supply increase, slumping stock market hurt optimism

Oil hovers below $77 on US supplies, equities

SINGAPORE – Oil prices hovered below $77 a barrel Thursday in Asia as growing U.S. crude supplies and weak stock markets undermined investor optimism.
Benchmark crude for September delivery was up 23 cents to $76.78 a barrel at late afternoon Singapore time in electronic trading on the New York …. Read the original article  : Oil hovers below $77 as unexpected US supply increase, slumping stock market hurt optimism.

Funds approved for phase two of unique identification number project

NEW DELHI – The authority set up to collect data for the issue of tamper-proof biometric identity cards to each of India’s 1.17 billion citizens has been granted Rs.3,023 crore for the second phase of its implementation.

“The estimated cost includes project components for issue of 100 million unique identity numbers by March 2011 and recurring … Read the original article on Gaea Times at : Funds approved for phase two of unique identification number project.

Sensex flat in afternoon trade

MUMBAI – A benchmark index for Indian equities was ruling flat Thursday afternoon amid negative Asian cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,978.37 points, was ruling at 17,947.32 points, 29.91 points or 0.17 percent down from its previous close at 17,977.23 points.
At the National …. Source article  : Sensex flat in afternoon trade.

LG Display second-quarter net profit rises 51 percent amid record sales

LG Display 2Q net profit jumps 51 percent
SEOUL, South Korea – LG Display, the world’s second-largest manufacturer of liquid crystal displays used in flat screen televisions and other products, said second-quarter net profit rose 51 percent amid record sales and higher prices for its products.

LG Display earned 555 billion won ($461 million) in the three …. Read the original article  : here.

Prices of Himachal apples fail to bounce back

SHIMLA – The prices of apples from Himachal Pradesh have failed to recover despite the arrival of the premium varieties in the market, traders here said Thursday.

The prices had crashed within weeks of their arrival early this month.
The traders said a bumper crop this year is turning out to be the pits for farmers … Original article on : Prices of Himachal apples fail to bounce back.

Power Grid gets go ahead for 20 percent public offer

NEW DELHI – India Thursday gave its nod for a follow-on public issue of the state-run Power Grid Corp constituting 20 percent of its paid-up capital. Of this, 10 percent will be for government divestment and the remaining as fresh equity issue.

Based on the price of Rs.105.50 per share of the company quoting on the …. Source article  : Power Grid gets go ahead for 20 percent public offer.

Canada becomes first western nation to partner ‘Vibrant Gujarat’

TORONTO – In a major boost to Gujarat, Canada has announced to become a partner country in the Vibrant Gujarat investment summit next year.

Held biennially immediately after Pravasi Bharatiya Divas since 2003, the Vibrant Gujarat summit is aimed at attracting foreign investment and knowhow into the state.
In a letter to Gujarat Industry Minister Saurabh …. Original article  : Canada becomes first western nation to partner ‘Vibrant Gujarat’.

Extension of jobless benefits likely after House vote that would send measure to Obama

Additional jobless benefits hinge on House vote
WASHINGTON – A House vote Thursday is expected to send President Barack Obama a long-sought measure to resume unemployment payments to millions of people whose benefits have lapsed.
Obama is set to sign the bill as soon as Congress can ship it to him. The Senate broke …. Source article  : Extension of jobless benefits likely after House vote that would send measure to Obama.

Politicking clouds economic decision-making, with economists more optimistic than public

Midterm politicking hovers over economic decisions

WASHINGTON – Midterm politics are distorting economic decision-making as leaders of both parties spin rival views of the road ahead, offering visions based on questionable economics.
The resulting political angst is leaving a mark on major legislation. A far-reaching financial overhaul bill signed by President Barack Obama on Wednesday reflects voter … Original source on Gaea Times at : Politicking clouds economic decision-making, with economists more optimistic than public.

AP-Univision poll: Deep financial worries make economy a personal hardship for many Hispanics

AP-Univision poll: Hispanic financial worries deep

MIAMI – For Hispanics in America, the ravaged economy has been a personal nightmare.
While the stubborn downturn has rocked the country, an extensive Associated Press-Univision poll of the nation’s Hispanics fleshes out the disproportionate toll on the fastest-growing minority group.
Nearly half or more express intense worry over losing their jobs, … Original article on : AP-Univision poll: Deep financial worries make economy a personal hardship for many Hispanics.

Chhattisgarh slaps entertainment tax on DTH connection

RAIPUR – The Chhattisgarh government has imposed entertainment tax ranging from Rs.10 to Rs.20 per Direct-to-Home (DTH) connection, effective retrospectively from the month of June.

The commercial taxes department Thursday said dealers of companies providing DTH services in the state will collect the tax.
In a statement, the department said the tax will be … Read this article on Gaea Times at : Chhattisgarh slaps entertainment tax on DTH connection.

Immediate impact: James, Wade and Bosh making a quick mark off the court for Miami businesses

Heat soaring in off-court business moves as well

MIAMI – Eric Woolworth has worn button-down shirts to work for the last two weeks, instead of short-sleeve polos.
With good reason.
Those polos say “Miami Heat.”
“I can’t wear them because I can’t go out without getting accosted,” said Woolworth, the Heat president of business operations. “You can’t go out … Read the original article on Gaea Times at : Immediate impact: James, Wade and Bosh making a quick mark off the court for Miami businesses.

Bharti promises more than just telecom services to Tanzania

NEW DELHI – India’s Bharti Airtel, which acquired the African telecom assets of Kuwait’s Zain recently, has committed itself to bringing affordable phone services to Tanzania and becoming a pro-active partner in the country’s growth.

“We want to be a partner in Tanzania’s growth and will work with the government to take telecom networks deep into … Read more >>.

Soaring milk, fruit prices keep food inflation high

NEW DELHI – India’s food inflation continued to remain high and was ruling at 12.47 percent for the week ended July 10 against 12.81 percent for the week before as prices of milk, fruits, condiments, spices, chicken and fish moved higher.

According to data on the official wholesale price index released by the commerce and industry … Read : Soaring milk, fruit prices keep food inflation high.

NKorea says US should halt sanctions, military exercises if it wants nuke free peninsula

NKorea calls on US to halt exercises, sanctions

HANOI, Vietnam – North Korea warned the United States and South Korea on Thursday to halt military exercises scheduled for this weekend and to back off any new sanctions against the communist country if they want to see a nuclear weapon-free Korean peninsula.
The warning issued on the sidelines …. Source article on Gaea Times at  : NKorea says US should halt sanctions, military exercises if it wants nuke free peninsula.

Swedish truck maker Volvo makes Q2 profit, helped by higher demand, improved productivity

Volvo returns to profit in Q2 as demand picks up

STOCKHOLM – Swedish truck maker AB Volvo returned to a profit in the second quarter from a loss a year earlier, helped by a gradual pickup in demand and improved productivity, it said Thursday.
The company, based in Goteborg, southern Sweden, said net profit for the quarter … Read the original article on Gaea Times at : Swedish truck maker Volvo makes Q2 profit, helped by higher demand, improved productivity.

China to begin domestic carbon trading

BEIJING – China will start carbon trading in domestic businesses during the next five-year plan beginning in 2011 with an aim to reduce carbon emission.

The decision was made at a closed-door meeting chaired by Xie Zhenhua, deputy director of the National Development and Reform Commission (NDRC), and attended by officials from related ministries, enterprises, environmental … Original source on Gaea Times at : China to begin domestic carbon trading.

Broadband users to grow to 275 mn by 2015: Report

NEW DELHI – The broadband subscriber count in the country is likely to rise to 275 million by 2015 from the current nine million, says a report.

The growth in subscriber base will take place because submarine cable capacity is expected to grow and supply of capacities is likely to increase significantly with … Read the original article on Gaea Times at : Broadband users to grow to 275 mn by 2015: Report.

Petrol pumps owners observe strike in West Bengal

KOLKATA – Vehicle owners and public transport operators had a difficult time in West Bengal Friday as petrol pump owners went on a day-long strike, demanding an increase in commission in the wake of recent fuel price hike.

“The fuel prices have increased a lot. In current scenario if our commission is not increased then it …. Original article on Gaea Times at  : Petrol pumps owners observe strike in West Bengal.

US Chamber of Commerce to endorse Republican candidate Rubio in Florida’s US Senate race

Chamber backs tea-party-favorite Rubio in Florida

WASHINGTON – The U.S. Chamber of Commerce is backing Marco Rubio’s bid for the Senate, pledging to help the tea party-favored candidate emerge from a tight three-way race in Florida.
The organization plans a Saturday rally in Orlando to announce Rubio, a former state House speaker, as its latest candidate to … Read more : US Chamber of Commerce to endorse Republican candidate Rubio in Florida’s US Senate race.

Advisory panel backs RBI monetary policy tightening

NEW DELHI – India’s central bank should look at tightening the monetary policy to tame sustained inflation, now that the country’s economic growth trajectory looked firmer, the Prime Minister’s Economic Advisory Council said here Friday.

“Monetary policy has to move away from an accommodative stance sooner than what is happening in other countries. There must be … Read : Advisory panel backs RBI monetary policy tightening.

Ex-Ways and Means Chairman Rangel says he’ll fight ethics charges; some Democrats may balk

Rangel says he’s ready to fight ethics charges

WASHINGTON – Rep. Charles Rangel, who has spent half of his 80 years as a member of Congress, says he looks forward to fighting ethics charges. Other Democrats won’t be so pleased.
The ethics trial sought by the New York congressman and former Ways and Means Committee chairman will … Read more »»».

Respected at home and abroad, Pakistan’s powerful army chief gets 3 more years

Pakistan’s respected army chief to stay on

ISLAMABAD – The decision to extend the term of army chief Gen. Ashfaq Parvez Kayani leaves a respected soldier at the helm of Pakistan’s most powerful institution just as the U.S. looks for a reliable partner in the war in against the Taliban and al-Qaida.
Kayani, 58, is known to …. Source  : Respected at home and abroad, Pakistan’s powerful army chief gets 3 more years.

Swedish truck maker Scania Q2 profits soar on higher volumes, cost cuts, better capacity use

Scania reports surge in Q2 profits
STOCKHOLM – Swedish truck maker Scania AB on Friday returned to a healthy second-quarter net profit, mainly thanks to higher vehicle volumes, better capacity use and lower costs. Improved margins also helped boost the results.

Net profit for the three month period ending June 30 bounced to 2.4 billion kronor ($326 … Read the original article on Gaea Times at : Swedish truck maker Scania Q2 profits soar on higher volumes, cost cuts, better capacity use.

NKorea tensions rise as US pushes Asian nations on nukes, territorial disputes

NKorea tensions spike at Asian security forum

HANOI, Vietnam – North Korea on Friday threatened the United States and South Korea with a “physical response” to planned weekend naval exercises as tensions with the communist nation rose in the aftermath of the sinking of a South Korean warship blamed on the North.
In Vietnam for a Southeast …. Read the original article  : NKorea tensions rise as US pushes Asian nations on nukes, territorial disputes.

Bangladesh FDI drops 36 percent

DHAKA – Foreign direct investment (FDI) in Bangladesh plunged by 36 percent in 2009 and may see no dramatic improvement, the UN Conference on Trade and Development (UNCTAD) has said.

The UNCTAD blames it on the bureaucratic red tape that continues to act as the biggest barrier in attracting overseas funds.
The economy was also … Read this article on Gaea Times at : Bangladesh FDI drops 36 percent.

World stocks up, fueled by biggest Wall Street rally in weeks, solid US earnings

World shares up amid confidence in recovery

BANGKOK – World stock markets were up Friday after Europe showed signs of growth and U.S. stocks rallied to a two-week high, lifted by better-than-expected results from industry giants like Caterpillar and Microsoft.
Oil prices held above $79 a barrel after surging the day before as stock markets rallied and …. Source article on Gaea Times at  : World stocks up, fueled by biggest Wall Street rally in weeks, solid US earnings.

Ex-servicemen build tallest model rail track

LONDON – Former British servicemen have built the tallest model railway track in the world at the St Pancras station here.

At 10-feet tall, the train track is already attracting much interest from passengers since it was unveiled Wednesday, reports telegraph.co.uk.
The project was sponsored by Royal British Legion Industries, a charity that helps put … Original article on : Ex-servicemen build tallest model rail track.

Economy to grow 8.5 percent: PMEAC

New Delhi, July 23 (ANI): The Prime Minister’s Economic Advisory Council (PMEAC) on Friday revised the growth forecast for the current fiscal to 8.5 percent from 8.2 percent earlier.

Addressing a press conference here, the chairman of the advisory council Dr. C Rangarajan, said inflation would be 6.5 percent by the end of fiscal 2010. …. Source article  : Economy to grow 8.5 percent: PMEAC.

Government to put out a white paper on housing

NEW DELHI – The government is preparing a white paper that will bring out all the issues affecting supply and demand in the housing sector, a top official said here.

“Towns and cities are growing by default rather than by design. There needs to be a rethink on the land use issue and we are in …. Read the original article  : Government to put out a white paper on housing.

Vodafone says it returned to growth in organic service revenue in Q1

Vodafone says revenues resumed growing in Q1

LONDON – Vodafone Group PLC, the mobile phone company, says revenues grew on a comparable basis in its first quarter, the first period of growth since the recession hit.
Vodafone said Friday that revenue on an organic basis – excluding the effect of acquisitions, disposals and currency movements – was … Original source on Gaea Times at : Vodafone says it returned to growth in organic service revenue in Q1.

Ford bullish on bumpy Japan market after Asian manufacturing investments

Ford bullish on Japan with new Asian investments

TOKYO – Ford hopes its investments in Asia will dramatically boost sales in Japan – a market so dominated by local makers like Toyota and Honda that the U.S. automaker has long struggled to maintain a toehold.
Tim Tucker, chief executive of Ford Motor Co.’s Japan operations, said Friday … Read this article on Gaea Times at : Ford bullish on bumpy Japan market after Asian manufacturing investments.

3 top administrators whose huge salaries sparked outrage in California city have resigned

Calif. council accepts resignations of 3 managers

BELL, Calif. – Three administrators whose huge salaries have sparked outrage in this small blue-collar suburb of Los Angeles have agreed to resign.
City Council members emerged from an hours-long closed session at midnight Friday and announced that they’d accepted the resignations of Chief Administrative Officer Robert Rizzo, Assistant City …. Original source  : 3 top administrators whose huge salaries sparked outrage in California city have resigned.

Rude behaviour among employees turns off customers

WASHINGTON – Rude behaviour among employees can turn off consumers, even when it is not directed at them.

In restaurants, banks, government offices, retail stores and universities, consumers frequently report seeing employees behaving badly towards their colleagues.
“These findings underscore the need for organisations to promote employee civility,” said study co-author Deborah MacInnis.
MacInnis is … Read this article on Gaea Times at : Rude behaviour among employees turns off customers.

NKorea threatens ‘physical response’ to joint US-SKorea drills planned for this weekend

NKorea threatens ‘physical response’ to US drills

HANOI, Vietnam – North Korea has threatened a “physical response” if the U.S. and South Korea go ahead with joint military exercises planned for this weekend.
North Korean spokesman Ri Tong Il told reporters at the Association of Southeast Asian Nations meeting in Hanoi, Vietnam, on Friday that the exercises [..] Read the original article: here.

Swedish defense group Saab posts drop in Q2 profits, cuts 2010 outlook

Sweden’s Saab says Q2 profit fell
STOCKHOLM – Swedish aerospace and defense group Saab AB on Friday posted a near 40 percent drop in second-quarter net profits, largely due to a terminated customer contract, resulting in a 2010 outlook downgrade.

Net profit in the quarter reached around 177 million kronor ($24 million), tumbling from 294 million kronor … Read : Swedish defense group Saab posts drop in Q2 profits, cuts 2010 outlook.

Highlights of report presented by PM’s economic panel

NEW DELHI – Following are the highlights of the observations and forecasts on the performance of the Indian economy made by the Prime Minister’s Economic Advisory Council, chaired by C. Rangarajan, here Thursday:

-Economy to grow at 8.5 percent in 2010-11 and 9.0 percent next fiscal
-Agriculture to grow at 4.5 percent in 2010-11 and 4 …. Source article on Gaea Times at  : Highlights of report presented by PM’s economic panel.

Iran begins studies to build experimental nuclear fusion reactor

Iran studies building fusion reactor
TEHRAN, Iran – Iran’s nuclear agency announces it studying to construct an experimental nuclear fusion reactor, something no country has ever built.

Iran is not known to have carried out anything but basic fusion research. Its current nuclear fission program is being watched with concern by the U.S.
The U.S. and its allies … Read the original article on Gaea Times at : Iran begins studies to build experimental nuclear fusion reactor.

A grocery shop in Britain sans shopkeeper

LONDON – No shopkeeper to man it. Yet, a grocery store in Britain opens round the clock and sell household goods to the residents without fearing theft.

The village shop in Draughton, North Yorkshire, is never locked or manned, and relies on old-fashioned honesty to balance its books, Daily Mail reported.
The phone box-turned …. Source article on Gaea Times at  : A grocery shop in Britain sans shopkeeper.

State of infrastructure not good enough, need to do more: PM

NEW DELHI – India is not meeting its infrastructure development targets and needs to rework its strategy of implementing mega projects, Prime Minister Manmohan Singh said here Saturday while addressing the country’s top policy forum.

“The state of infrastructure in the country is not good enough to achieve 9-10 percent growth over a sustained basis. We … Read the original article on Gaea Times at : State of infrastructure not good enough, need to do more: PM.

Inflation will come down to 6 percent: Manmohan Singh tells NDC

NEW DELHI – Prime Minister Dr. Manmohan Singh on Saturday said the inflation is expected to come down at six percent by the end of this year.

Addressing the 55th National Development Conference (NDC), Dr. Singh said: “The present high rate of inflation is mainly … Read : Inflation will come down to 6 percent: Manmohan Singh tells NDC.

Inflation will ease, country falling short of plan targets: PM

NEW DELHI – Prime Minister Manmohan Singh Saturday said a good monsoon this year will help overall inflation ease to 6 percent by the year-end, a figure more optimistic than the ones projected by his advisory council earlier.

He also said that as per the mid-term review of the 11th Five Year Plan (2007-12), the country …. Read the original article  : here.

Rangel political allies largely quiet as they weigh political fallout of ethics charges

Rangel ethics charges create headache for allies

NEW YORK – Friends and political allies of embattled Rep. Charlie Rangel are noticeably quiet after the disclosure that the 40-year House veteran and dean of the New York congressional delegation may face serious charges from a House ethics panel.
Rangel, 80, told reporters Friday that he looked forward to … Read this article on Gaea Times at : Rangel political allies largely quiet as they weigh political fallout of ethics charges.

Wipro achieves a quarterly profit of 31 percent

BANGALORE – Wipro, third-largest software provider has beaten expectations by posting a 31 percent rise in its quarterly profit.

“We had a strong quarter particularly in our after tax profit growth, our revenue grew by 16 percent and we …. Source  : Wipro achieves a quarterly profit of 31 percent.

Aziz Premji Upbeat About Wipro

BABGALORE, INDIA (GaeaTimes.com)- The new financial figures clearly indicate that the leading Indian MNCs which do a lot of outsourcing for UK and USA based clients are still recuperating from the sluggish economy. Wipro which is a leading outsourcing company based in India has added more employees in its portfolio compared to rivals like …. Original article  : Aziz Premji Upbeat About Wipro.

Targets not met, but current plan growth better than ever: PM

NEW DELHI – Prime Minister Manmohan Singh Saturday said though the country had fallen short of targets under the current five year plan, the overall projected average growth of 8.1 percent from 2007-12 was still better than in any other period.

“The mid-term appraisal projects the eleventh plan will achieve an annual average growth rate of …. Source  : Targets not met, but current plan growth better than ever: PM.

Delhi Metro orders 40 subway cars from Bombardier

TORONTO – Canada’s Bombardier Transportation has won orders to supply 40 MOVIA type subway cars to Delhi Metro Rail Corporation (DMRC) at a cost of $55 million.

Around 190 MOVIA cars are already being used by Delhi Metro.
The Montreal-based rail and aerospace giant said the order won Friday is in addition to 74 transit cars …. Original article  : Delhi Metro orders 40 subway cars from Bombardier.

North Korea threatens nuclear retaliation to US-South Korea military exercises

NKorea vows nuclear response to US-SKorea drills

SEOUL, South Korea – North Korea warned Saturday that joint U.S. and South Korean military exercises poised to begin this weekend amount to a military provocation that will draw a “powerful” nuclear response from Pyongyang.
North Korea routinely threatens war when South Korea and the U.S. hold joint military drills, … Read more : North Korea threatens nuclear retaliation to US-South Korea military exercises.

Mexico registers $312 mn trade surplus

Mexico City, July 24 (IANS/EFE) Mexico has registered a $312 million trade surplus in the first half of 2010, a big turnaround from the $1.2 billion deficit in the same period last year, the government said.

Mexican exports totalled $141.26 billion between Jan 1 and June 30, an increase of 36.3 percent over the first half [..] Read the original article: here.

US to grow 4 percent, unemployment to stay at 9 percent

WASHINGTON – Battling the worst recession in decades, the US government expects unemployment to stay at or above 9 percent until 2012 even as the economy grows by at least 4 percent in 2011 and 2012.

New projections contained in the administration’s Mid-Session Budget Review released by the White House Friday, also show the US National …. Source  : US to grow 4 percent, unemployment to stay at 9 percent.

World takes first steps toward treaty to regulate arms trade and prevent illicit transfers

First steps toward arms trade treaty
UNITED NATIONS – The world’s nations took the first steps at a conference that ended Friday toward a legally binding treaty that would try to regulate the multibillion dollar arms trade and prevent the transfer of weapons to armed groups fueling conflicts, terrorists and human rights violators.

When the conference began … Read : World takes first steps toward treaty to regulate arms trade and prevent illicit transfers.

50 percent Chinese buy luxury items online

BEIJING – Half of China’s urban residents say they prefer buying luxury items online and the major factor for drawing people to internet retailing is favourable prices over franchised stores.

The 2009 China Luxury Forecast also said about 78 percent of respondents in a survey said they would continue to maintain consumption of luxury goods in … Read : 50 percent Chinese buy luxury items online.

Attorney confirms that former pro cyclist Tyler Hamilton will appear before federal grand jury

Hamilton subpoenaed to appear before grand jury

NEW YORK – Former professional cyclist Tyler Hamilton has been subpoenaed to appear before a grand jury, though his attorney refused to say whether it has anything to do with a federal investigation involving Lance Armstrong.
Chris Manderson said that Hamilton, a former teammate of Armstrong on the U.S. Postal … Original source on Gaea Times at : Attorney confirms that former pro cyclist Tyler Hamilton will appear before federal grand jury.

Aloha, Mickey: Disney gives sneak peek of new Hawaiian resort ‘Aulani’

Disney gives sneak peek of new Hawaii resort

KAPOLEI, Hawaii – More than 80 years after Mickey Mouse piloted “Steamboat Willie” and whistled his way into the hearts of children across the world, he has finally reached the shores of Hawaii.
The Walt Disney Co. on Friday gave a peek of its sprawling, beachside Hawaiian resort that … Read more »»».

NKorea threatens powerful nuclear response to US-South Korea military exercises

NKorea vows powerful nuclear response to US-SKorea
HANOI, Vietnam – North Korea threatened Saturday to mount a powerful nuclear response to upcoming joint U.S.-South Korean military drills, calling the exercises an “unpardonable” provocation on top of wrongly blaming Pyongyang for the sinking of a South Korean warship.
North Korea’s powerful National Defense Commission, led by [..] Read the original article: here.

AP-US-Anti-Tax-Iconoclast

AP-US-Anti-Tax-Iconoclast
EDITORS:
Disregard BC-US–Anti-Tax Iconoclast. NewsNow. Will move on a later cycle.

The AP
…. Original source  : AP-US-Anti-Tax-Iconoclast.

Geithner says economy gradually getting better and that’s encouraging

Geithner says economy gradually getting better

WASHINGTON – Treasury Secretary Tim Geithner says the economy is “gradually getting better” and “that’s very encouraging.”
This comes after Federal Reserve Chairman Ben Bernanke told Congress earlier this week that the outlook for the country is “unusually uncertain.”
Geithner says he’s seeing “private investment expand again, job growth starting to come … Read the original article on Gaea Times at : Geithner says economy gradually getting better and that’s encouraging.

BP chief executive Tony Hayward to step down

LONDON – BP Plc chief executive Tony Hayward is to step down following intense criticism of his handling of the worst oil spill in US history, British Broadcasting Corporation reported Sunday.

His departure from the British oil giant could come into effect within 24 hours, the broadcaster said.
The spill in the Gulf of Mexico followed …. Source article on Gaea Times at  : BP chief executive Tony Hayward to step down.

BP chief executive to step down

LONDON – BP chief executive Tony Hayward is to step down, the BBC reported Sunday.

His departure from the company at the centre of the worst oil spill in US history could come into effect within 24 hours, the broadcaster said.
… Read the original article on Gaea Times at : BP chief executive to step down.

Small and medium firms’ business confidence rising: CII

NEW DELHI – The confidence of small and medium enterprises(SMEs)in India is on the rise with many firms recording higher sales and increased capacity utilisation, says a survey by the Confederation of Indian Industry (CII).

The overall business confidence index (BCI) compiled by CII for SMEs for the July-Sep 2010 stood at 65.6 on a scale …. Original source  : Small and medium firms’ business confidence rising: CII.

States wary of ‘one-size-fits-all’ central schemes

NEW DELHI – An increasing number of states today are growing restive about the central government’s increasing tendency to impose its schemes on them irrespective of their efficacy and feel the “one-size-fits-all” approach no longer works for them.

The resentment was highlighted during the 55th National Developmental Council (NDC) meet here Saturday, which was chaired by … Read this article on Gaea Times at : States wary of ‘one-size-fits-all’ central schemes.

Himachal wants to re-allot hydro-power project to Brakel

SHIMLA – The Himachal Pradesh government wants to re-allot a multi-million dollar hydropower project that is under litigation to the Netherlands-based Brakel Corp.

The government filed an affidavit in the Supreme Court last week, saying the it did not want to cancel the project allotted to Brakel “as it’s in the state’s interest”, authorities here said … Read this article on Gaea Times at : Himachal wants to re-allot hydro-power project to Brakel.

Foxconn India plant shut down following toxic gas leak

CHENNAI – Mobile phone accessory maker Foxconn India’s plant at Sunguvarchatram, around 45 km from here, has been shut down following a gas leak late Friday.

The Tamil Nadu government has ordered the closure of the plant till all safety aspects are checked and cleared by authorities concerned.
The decision came after 37 workers were admitted …. Source article on Gaea Times at  : Foxconn India plant shut down following toxic gas leak.

Reid rebounds against Angle, but Dems worry Nevada’s poor economy could drag him down

Reid rebounds but still faces uncertain future

HENDERSON, Nev. – Senate Democratic leader Harry Reid’s chances for six more years in Washington may be like tossing dice in a casino, even if he has made headway against Republican challenger Sharron Angle in a state with the nation’s highest rate of joblessness.
The four-term Reid holds a slight … Read more : Reid rebounds against Angle, but Dems worry Nevada’s poor economy could drag him down.

Dems worry Nevada’s economic woes will undercut Reid despite his rebound against Angle

Dems fear economic impact on Reid despite rebound

HENDERSON, Nev. – Senate Democratic leader Harry Reid of Nevada holds a slim lead over his Republican opponent in the latest polling.
That’s due in part to Sharron Angle’s unsteady performance since winning the June GOP primary and to Democratic ads portraying her as an extremist.
But an internal memo …. Read the original article  : Dems worry Nevada’s economic woes will undercut Reid despite his rebound against Angle.

Briton lands job standing with placard in rain

LONDON – A jobless Briton who stood for hours in pouring rain with a placard saying “please give me a job” was surprised when a passing businessman offered him one on the spot.

Mark Wheeldon, 23, a resident of Newcastle-under-Lyme, 217 km from London, had failed to find employment after spending the past two years caring … Read this article on Gaea Times at : Briton lands job standing with placard in rain.

Indian Bank seeks partners for merchant banking and MF business

CHENNAI – Indian Bank is in the process of inducting partners for its merchant banking and mutual fund arms and merging the housing finance outfit with itself, a top official of the public sector lender said.

“We are talking to both- foreign and domestic- parties to join hands with us for the merchant banking and mutual … Original article on : Indian Bank seeks partners for merchant banking and MF business.

Why India’s $35 computer joke isn’t funny (Comment)

Here we go again! India’s Human Resource Development Minister Kapil Sibal has “launched” a $35 computer, evidently a “dream project” of his. The touch-screen, Linux-based device looks iPad-inspired, but we know little about how it works.

It emerged from a student project with a bill of material adding up to $47, a price that the minister … Read : Why India’s $35 computer joke isn’t funny (Comment).

Smelly carton triggers scare at Kochi airport

KOCHI – There was some chaos and scare at Kerala’s Kochi Airport Sunday when cargo loaders detected a loosely packed carton containing chemicals with a foul smell emanating from it.

The men loading cargo on to the Kingfisher IT 2482 flight from here to Chennai detected the carton.
“They found a packet with foul smell. It …. Original article on Gaea Times at  : Smelly carton triggers scare at Kochi airport.

Media migration costs California 36,000 jobs

LOS ANGELES – Migration of film and television production units from California to other places has cost jobs of over 36,000 people and a loss of around $2.4 billion in wages over the last decade.

The Milken Institute, an American non-profit economic think tank, attributes the job losses to the flight of movies and television …. Read the original article  : Media migration costs California 36,000 jobs.

Employees’ rude behaviour affects consumers

LOS ANGELES – Rude behaviour among employees can negatively affect consumer perceptions – even when the incivility isn’t directed at the customer.

Across a range of places, including restaurants, banks, government offices, retail stores and universities, consumers frequently report seeing employees behaving badly with other employees.
The bad behaviour also include derogatory comments or inappropriate gestures, [..] Read the original article: here.

Clinton opens new chapter in curious history of mango diplomacy in South Asia

Clinton adds to curious history of mango diplomacy

ISLAMABAD – When U.S. Secretary of State Hillary Rodham Clinton offered Pakistan help last week in exporting mangoes to the U.S. in a bid to dampen anti-American sentiment, it marked the latest chapter in the fruit’s curious history of diplomacy and intrigue.
Clinton’s offer came three years after the …. Read the original article  : Clinton opens new chapter in curious history of mango diplomacy in South Asia.

Pfizer and Eisai say FDA approves bigger dose of Aricept drug for Alzheimer’s disease

FDA approves larger dose of Pfizer’s Aricept

NEW YORK – Drugmakers Eisai Inc. and Pfizer Inc. said on Saturday that government regulators have given them permission to make a larger dose of its Alzheimer’s disease drug Aricept for patients who have already been taking the smaller dose.
Aricept is the version of the drug donepezil, and is … Original source on Gaea Times at : Pfizer and Eisai say FDA approves bigger dose of Aricept drug for Alzheimer’s disease.

Summary Box: Gadget makers forced to check whether metals come from war-torn Congo

Summary Box: Companies forced to check Congo links

THE REQUIREMENTS: A new law requires companies to check whether their products contain minerals from rebel-controlled mines in Congo and surrounding countries.
LABELING: Products can be labeled as “conflict free” if their makers can prove they don’t contain minerals that directly or indirectly finance or benefit armed groups in …. Original article on Gaea Times at  : Summary Box: Gadget makers forced to check whether metals come from war-torn Congo.

Dez Bryant ‘before time’ for start of Cowboys training camp, first player on field

Dez Bryant 1st player on field for Cowboys camp

SAN ANTONIO – Dez Bryant was more than on time for the start of the Dallas Cowboys training camp. The first-round pick was the first player on the field Saturday.
“I’m just ready to play, that’s the message,” Bryant said. “I’m ready to do whatever they ask me …. Original article  : Dez Bryant ‘before time’ for start of Cowboys training camp, first player on field.

2 US Navy service members missing in eastern Afghanistan

2 US Navy service members missing in Afghanistan
KABUL, Afghanistan – Two U.S. Navy service members disappeared in a dangerous area of eastern Afghanistan, prompting a massive air and ground search and appeals on local radio stations for their safe return, NATO and Afghan officials said.
The two left their compound … Read this article on Gaea Times at : 2 US Navy service members missing in eastern Afghanistan.

Documents detail $4.3B in Goldman Sachs payouts after government’s bailout of AIG

Documents detail $4.3B in Goldman Sachs payouts

International banks and financial companies were indirect beneficiaries of the government’s 2008 bailout of American International Group Inc., according to newly released documents.
The documents released by Sen. Chuck Grassley, R-Iowa, contain a list of the 27 banks, hedge funds and financial companies that received $4.3 billion from Goldman Sachs …. Source article  : Documents detail $4.3B in Goldman Sachs payouts after government’s bailout of AIG.