UK unemployment rate down 0.1 pct to 7.8 percent in 3 months through July

UK unemployment rate falls by 0.1 pct to 7.8 pct

LONDON – Official figures show Britain’s unemployment rate fell by 0.1 percent to 7.8 percent in the three months to July.
The Office for National Statistics said Wednesday that total unemployment fell by 8,000 people between May and July to 2.47 million.
…. Read the original article  : here.

Chinese economy could grow by 10 percent in 2010

BEIJING – China’s economy could grow by 10 percent this year while the inflation would be around three percent, according to the National Bureau of Statistics Wednesday.

Ma Jiantang, director of National Bureau of Statistics, made the remarks at the ongoing World Economic Forum Annual Meeting of the New Champions in the port city of Tianjin, … Read more : Chinese economy could grow by 10 percent in 2010.

Sensex holds on to gains, finds support in RIL, ONGC

MUMBAI – A benchmark index for Indian equities maintained its run-up Wednesday, with heavyweight stocks Reliance Industries (RIL) and ONGC supporting the rally.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,343.74 points, was at 19,496.34 points, 149.38 points or 0.77 percent up from its previous close at 19,346.96 …. Original source  : Sensex holds on to gains, finds support in RIL, ONGC.

Oil falls to near $76 after report shows US crude inventories growing

Oil falls to near $76 as US crude supplies grow

SINGAPORE – Oil prices fell to near $76 a barrel Wednesday in Asia after a report showed U.S. crude supplies jumped last week, suggesting demand remains tepid.
Benchmark crude for October delivery was down 51 cents at $76.29 a barrel at late afternoon Singapore time in electronic … Read the original article on Gaea Times at : Oil falls to near $76 after report shows US crude inventories growing.

India to draw 7-year strategic plan for tea industry

COONOOR – India is working on a strategic plan for an ambitious growth of its tea industry over the next seven years.

“The government has directed us to submit by this month-end a strategic plan for the next phase of growth in the industry during the remaining 11th plan (2007-12) and the 12th plan (20012-17),” Tea … Read more : India to draw 7-year strategic plan for tea industry.

A look at changes states are making or considering to pensions for public employees

A look at state pension changes
Highlights of changes to state government pension plans that affect current retirees and employees, and how much unfunded pension and non-pension retirement liabilities – such as retiree health care costs – each state faced as of 2008, according to a study by the Pew Center on the States.

Current retirees:
- Minnesota: … Read : A look at changes states are making or considering to pensions for public employees.

TCS signs multi-year service pact with US retailer

NEW DELHI – Tata Consultancy Services (TCS) Wednesday said it has entered into a multi-year agreement with US-based grocery retailer SUPERVALU for a full service engagement.

The deal will enhance the operational efficiency of SUPERVALU by integrating information technology (IT), business processing outsourcing and infrastructure services.
“As a part of this engagement, more than 600 SUPERVALU …. Source article  : TCS signs multi-year service pact with US retailer.

Palestine to woo tourists at France’s tourism fair

Paris, Sep 15 (IANS/AKI) The Palestinian Authority will for the first time have a stand at an international tourism fair in Paris Sep 21-24, and will be wooing tourists to its territories, according to Palestinian diplomatic sources.

Palestinian Authority Tourism Minister Khulud Duaybis will head the Palestinian delegation, the sources said Tuesday.
The Palestinian representation in …. Source article  : Palestine to woo tourists at France’s tourism fair.

Both managements, workers must improve work ethics: PM

NEW DELHI – Prime Minister Manmohan Singh Wednesday asked both managements and workers to vastly improve work ethics, as the nation gears up to meet the aspirations of its youth and touch double-digit economic growth in a sustained manner.

“To achieve our goals and our ambitions, we will have to enhance productivity across all sectors of … Read more »»».

Farmers’ markets draw few food stamp users despite outreach; distance, cost remain problems

Farmers’ markets draw few food stamp users

PORTLAND, Ore. – Despite widespread efforts to attract low-income shoppers, farmers’ markets have had limited success in drawing people like Bishop Reed, who in the past three years has lost his job and his home.
Reed signed up for food stamps six months ago and uses them to buy groceries …. Original article on Gaea Times at  : Farmers’ markets draw few food stamp users despite outreach; distance, cost remain problems.

House Democrats deeply divided over Obama plan that would let taxes go back up on wealthy

House Dems deeply divided over Obama tax cut plan
WASHINGTON – Congressional Democrats are showing deep divisions over President Barack Obama’s plan to preserve middle class tax cuts while letting taxes on the wealthy go up.
Democratic leaders committed to Obama’s plan are hearing from some lawmakers who fear that raising taxes on anyone in …. Source  : Gaea News Network.

Obama hopes voters’ view of John Boehner will go from ‘Who’s he?’ to ‘He’s scary’

Dems gamble by shifting fire from Bush to Boehner
WASHINGTON – President Barack Obama has frequently reminded Americans that the nation’s economic crisis began under George W. Bush, a largely unpopular and universally known foil. Now all but ignoring Bush, Obama is criticizing a Republican most voters have never heard of: House Minority Leader …. Source article  : Obama hopes voters’ view of John Boehner will go from ‘Who’s he?’ to ‘He’s scary’.

States cut benefits for public-sector retirees; NJ gov. decries generous ‘fairy-tale promises’

States cutting benefits for public-sector retirees

TRENTON, N.J. – The security guards at the headquarters of New Jersey’s pension fund have never seen anything like it before: lines of public employees extending out the door and into the street.
Day after day, workers come in droves to apply for retirement. They often line up before dawn.
The rush …. Read the original article  : States cut benefits for public-sector retirees; NJ gov. decries generous ‘fairy-tale promises’.

Sack airline boss to cut costs, says pilot

LONDON – A Ryanair pilot has ??suggested that the airline’s boss should be replaced by a trainee member of the cabin crew to cut company expenses, a media report said Wednesday.

The jibe came after the budget airline boss Michael O’Leary said his planes did not need two pilots. He said a flight attendant could …. Source article on Gaea Times at  : Sack airline boss to cut costs, says pilot.

Official: China ‘paying close attention’ to BHP bid for Potash, fertilizer supply critical

China ‘paying close attention’ to BHP-Potash deal

BEIJING – China is closely watching global miner BHP’s $38.5 billion bid to acquire one of the world’s biggest producers of potash and fertilizer, the government said Wednesday in its first official comment on the proposed takeover.
Beijing is uneasy about seeing BHP Billiton Ltd., already a major iron ore … Read : Official: China ‘paying close attention’ to BHP bid for Potash, fertilizer supply critical.

Latin American economy to grow by five percent in 2010

Geneva, Sep 15 (IANS/EFE) The Latin American economy will grow by around five percent this year and in some countries in the region the increase could exceed six percent, the UN Conference on Trade and Development (UNCTAD) has said.

The recovery in the gross domestic product (GDP) predicted for the region will be “more moderate” in …. Source  : Latin American economy to grow by five percent in 2010.

Sensex continues bull run, rises 125 points in early trade

MUMBAI – A benchmark index for Indian equities Wednesday built on its two-day rally, rising more than 125 points in opening trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,343.74 points, was at 19,472.12 points, 125.16 points or 0.65 percent up from its previous close at 19,346.96 points.
At … Read more »»».

India needs to improve implementation of social schemes

NEW DELHI – India has done well in eradicating poverty, improving healthcare and primary education, but lax implementation of programmes has been the main hurdle in achieving the Millennium Development Goals (MDGs), says a United Nations official, ahead of a high-level summit next week.

“It is a mixed bag,” Minar Pimple, MDG Asia-Pacific Regional Director, told … Read : India needs to improve implementation of social schemes.

Money Market Operations as on Sep 14, 2010

…. Original article on Gaea Times at  : Money Market Operations as on Sep 14, 2010.

Asian stock markets rise as Nikkei jumps after Japan intervenes to weaken yen

Japan leads Asia stocks higher on yen intervention

BANGKOK – Japan led Asian stock markets higher Wednesday, soaring nearly 3 percent after the government announced its first currency intervention to weaken the yen since 2004.
The yen had been trading at 15-year highs against the dollar, battering Japan’s vital exporters and undermining an already fragile recovery in …. Source article  : Asian stock markets rise as Nikkei jumps after Japan intervenes to weaken yen.