World stocks mixed ahead of US jobs figures that will give key reading on economic recovery

World stocks mixed ahead of jobs figures
BANGKOK – World stock markets were mixed Thursday as investors traded with caution ahead of U.S. employment reports that will provide key readings on the health of the world’s biggest economy.

Markets have been volatile the past few weeks as indicators from around the globe give mixed signals about the … Read the original article on Gaea Times at : World stocks mixed ahead of US jobs figures that will give key reading on economic recovery.

EU, IMF, ECB to outline results of fiscal probe of Greece ahead of rescue loan disbursement

EU, IMF, ECB to release Greek debt test results

ATHENS, Greece – The European Commission, International Monetary Fund and European Central Bank will outline the results of an inspection Thursday that will determine whether debt-ridden Greece will receive the second installment of rescue loans to keep it from bankruptcy.
Greece is set to receive euro9 billion ($11.8 …. Read the original article  : here.

Kochhar and Co. partners with Middle East law firms

NEW DELHI – City-based corporate law firm Kochhar and Co. has partnered with law firms of Khalid Alnowaiser in Saudi Arabia and Mohammad Issa Odeh (MIO) in the United Arab Emirates.

“Trade and business between India and the Middle East has grown exponentially and we have witnessed the consummation of enormous business transactions between the …. Source  : Kochhar and Co. partners with Middle East law firms.

Mining giant Rio Tinto’s first-half profit more than triples amid strong demand for iron ore

Rio Tinto’s first-half profit more than triples

SYDNEY – Mining giant Rio Tinto said first-half profit more than tripled amid strong iron ore demand from China and higher commodity prices as the world economy climbed out of recession.
Net profit for the six months through June was $5.85 billion, up from $1.62 billion in the same period … Read more >>.

Oil hovers above $82 a barrel in Asia as rally to three-month high pauses

Oil hovers above $82 in Asia as rally pauses

SINGAPORE – Oil prices hovered above $82 a barrel Thursday in Asia, pausing from a rally that lifted the commodity to a three-month high this week amid positive U.S. corporate earnings and economic figures.
Benchmark crude for September delivery was down 19 cents to $82.28 a barrel at [..] Read the original article: here.

Drought-hit Bihar to seek massive aid

PATNA – Drought-hit Bihar is likely to seek a special financial assistance of Rs.15,000 crore from the central government, an official said Thursday.

The Bihar government Tuesday declared 28 of the state’s 38 districts drought affected due to a 23 percent rainfall deficit.
Chief Minister Nitish Kumar will hand over a memorandum to the central government …. Source  : Gaea News Network.

RIL to buy 60 percent stake in US shale firm for $392 mn

MUMBAI – India’s largest private sector company Reliance Industries (RIL) Thursday said it will invest $392 million to acquire a 60 percent stake in the US-based Pioneer Natural Resources’ shale gas assets in a joint venture with Carrizo Oil and Gas.

Expected to close by mid-September 2010, the deal is RIL’s third shale gas acquisition in … Read this article on Gaea Times at : RIL to buy 60 percent stake in US shale firm for $392 mn.

Food inflation eases further to 9.53 percent

NEW DELHI – India’s annual food inflation came down to 9.53 percent for the second straight week ending July 24 from 9.67 percent a week earlier, official data released Thursday showed.

The fuel prices index also slipped marginally to 14.26 percent compared to 14.29 percent recorded in the previous week.
It was for the first time …. Source  : Gaea News Network.

IRCTC Employees In Worry

NAGPUR, INDIA (GaeaTimes.com)- As the Central Railway is all set to acquire the management of all catering services of Indian railways, the future of more than 36 employees of the Indian Railway Catering and Tourism Corporation’s Nagpur division has become uncertain. The management is likely to take away the charges of the base kitchens …. Source article  : IRCTC Employees In Worry.

Legacy of Detroit’s Kilpatrick family likely ends with congresswoman’s loss in primary

Congresswoman’s loss signals end to family’s reign

DETROIT – They called it “Team Kilpatrick,” a small army of family and friends dedicated to keeping a Detroit congresswoman and her brash, rising star son in office.
As election cycles rolled around, team members donned their trademark green and yellow jackets and poured into Detroit’s neighborhoods to knock on …. Source  : Legacy of Detroit’s Kilpatrick family likely ends with congresswoman’s loss in primary.

Big money to stop teacher layoffs heads toward passage; House being called back from break

Jobs bill to stop teacher layoffs nears approval
WASHINGTON – Legislation to provide billions to save the jobs of teachers and other public workers is on track to pass the Senate, helped along by the votes of a couple of GOP moderates.
Democrats cracked a GOP filibuster on Wednesday, and the …. Original article on Gaea Times at  : Big money to stop teacher layoffs heads toward passage; House being called back from break.

Prognosis guarded ahead of annual financial checkup for Medicare and Social Security

Prognosis guarded for Medicare and Social Security
WASHINGTON – Medicare and Social Security – the foundation of a secure retirement – are facing strains from an aging population and an economy that can’t seem to get out of low gear.
And despite assertions to the contrary by the Obama administration, the new health …. Original source  : Prognosis guarded ahead of annual financial checkup for Medicare and Social Security.

Sensex still in green, Asian markets mixed

MUMBAI – A benchmark index for Indian equities was trading in the positive terrain Thursday after slipping from opening highs.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,234.85 points, was at 18,251.18 points, 33.74 points or 0.19 percent up from its previous close at 18,217.44 points. … Read more »».

Ratan Tata’s Successor Search

NEW DELHI, INDIA (GaeaTimes.com)- The latest buzz in the Indian business circle is the successor search to the chairman of Tata group Ratan Tata. The largest conglomerate of India said that the next chairman will be selected by a panel comprising of 5 members. The group is involved in making a variety of …. Source  : Gaea News Network.

Your mobile phone can also be a credit card

ISTANBUL – Imagine swiping a mobile phone to pay for all the things that you buy! This has just been made possible by latest technology that allows bank information to be stored in your mobile phones’ memory cards.

Global credit card giant Visa has entered a partnership with a Turkish bank to launch this technology, the … Original source on Gaea Times at : Your mobile phone can also be a credit card.

Barclays bank H1 net profit up 29 percent to 2.4 billion pounds ($3.9 billion)

Barclays bank H1 net profit up 29 pct to $3.9B

LONDON – British bank Barclays PLC said Thursday that its net profit rose by 29 percent in the first half to 2.4 billion pounds ($3.9 billion) as investment banking gains tripled and provisions for bad loans fell by a third.
Revenue was up 8 percent to 16.6 … Read the original article on Gaea Times at : Barclays bank H1 net profit up 29 percent to 2.4 billion pounds ($3.9 billion).

Danish drug maker Novo Nordisk Q2 profit rises 19 percent, helped by modern insulin sales

Novo Nordisk Q2 profit rises 19 percent
COPENHAGEN – Danish drug maker Novo Nordisk A/S on Thursday reported a 19 percent increase in net profit for the second quarter and raised its outlook, citing strong sales of its modern insulin products.

The world’s largest producer of diabetes drugs said net profit in the second quarter was 3.5 … Read more »»».

Lowe’s Credit Card Offers Shopping at Low Rates

CANADA (GaeaTimes.com) – Are you in a shopping spree? Then Lowe’s Credit Card is providing you with exclusive offers on credit services.

On single-receipt purchase of $299 or more made on your Lowe’s Consumer Credit Card in-store or online, interest will be charged to your account from the purchase date, if the promotional balance is not …. Original article  : Lowe’s Credit Card Offers Shopping at Low Rates.

Unilever reports 39 percent increase in second quarter net profit

Unilever Q2 profit up 39 percent
PARIS – Unilever NV on Thursday reported a 39 percent rise in second quarter net profit, beating analyst expectations, as the maker of Lipton tea, Dove soap and Ben & Jerry’s ice cream continued its push to increase sales volumes.

The Dutch consumer products maker said that net profit in the …. Original source  : Unilever reports 39 percent increase in second quarter net profit.

Net earnings at Germany’s Deutsche Telekom down to $626 million in 2nd quarter

Deutsche Telekom Q2 earnings slip 9 percent

BERLIN – German telecommunications company Deutsche Telekom AG said Thursday that its second-quarter profit fell 8.8 percent and revenues slipped as the company deconsolidated its British cell phone unit T-Mobile UK.
Deutsche Telekom, based in Bonn, said it had net profit of euro475 million ($626 million) for the April-June period … Original source on Gaea Times at : Net earnings at Germany’s Deutsche Telekom down to $626 million in 2nd quarter.