L&T forms JV for power transmission in South Africa

NEW DELHI – Larsen and Toubro (L&T) has signed a shareholders agreements with South Africa-based Befula Investments to form a joint venture company, Larsen and Turbo T&D SA (Pty) Ltd, to tap power transmission and distribution opportunities in that country.

South Africa, despite having an installed capacity close to 44,000 MW, is facing a severe peak … Read more : L&T forms JV for power transmission in South Africa.

Volkswagen to build new engine plant in Mexico

Mexico City, Sep 23 (IANS/EFE) German automaker Volkswagen said Wednesday it plans to build a $550 million plant with annual production capacity of 330,000 engines in the central Mexican state of Guanajuato.

During an event at the Mexican presidential residence of Los Pinos, the company said the new engine plant will be located at the Puerto … Original source on Gaea Times at : Volkswagen to build new engine plant in Mexico.

Whitman compares economically depressed Fresno to Detroit, draws criticism from state senator

Whitman compares economy in Fresno to Detroit

SACRAMENTO, Calif. – Republican gubernatorial candidate Meg Whitman says Fresno is a lot like Detroit, making the comparison in the context of what the recession has done to one of California’s largest cities.
Whitman made the comparison during an editorial board meeting with the San Jose Mercury News, which published … Original source on Gaea Times at : Whitman compares economically depressed Fresno to Detroit, draws criticism from state senator.

Forbes 400: Bill Gates Maintains #1 Spot

NEW YORK (GaeaTimes.com)- The latest Forbes 400 of the richest people in America shows that Bill Gates is still the richest man in the world with a total worth of $54billion. Warren Buffet follows the Microsoft co-founder on the list with #45billion. Among some of surprises on the list is Mark Zuckerberg who has … Original source on Gaea Times at : Forbes 400: Bill Gates Maintains #1 Spot.

Regulators approve new western North Dakota oil pipeline, say it should ease truck traffic

Regulators approve new oil pipeline in western ND

BISMARCK, N.D. – A new oil pipeline through three western North Dakota counties will help deliver crude to at least three regional markets and will reduce truck traffic on the region’s roads, state regulators said Wednesday.
North Dakota’s Public Service Commission endorsed a route for the 12-inch pipeline, which … Read this article on Gaea Times at : Regulators approve new western North Dakota oil pipeline, say it should ease truck traffic.

Similac Recall By Abbot Laboratories Hits Parents

NORTH CHICAGO (GaeaTimes.com)- Parents of infants in many countries got a shock on Wednesday when Abbot Laboratories Inc.went on to recall millions of its Similac-brand formulas for infants from the market. The company that announced the recall on Wednesday held that it was voluntarily recalling Similac powdered infant formulas from the market after …. Source article on Gaea Times at  : Similac Recall By Abbot Laboratories Hits Parents.

A Profile of Banks 2009-10

The Reserve Bank of India has, today, placed on its website "A Profile of Banks 2009-10 (rbi.org.in/scripts/AnnualPublications.aspx?head=A Profile of Banks) ". The publication, “A Profile of Banks 2009-10”,the  sixth volume in the series, provides a  bank-wise and bank group-wise information on important performance indicators of all scheduled commercial banks, excluding [..] Read the original article: here.

Family planning adversely affecting Shanghai growth

SHANGHAI – Shanghai, China’s commercial capital, has avoided the birth of about seven million children in the past 30 years because of its family-planning policy which has now adversely affected the city and left it with a majority elderly population.

Shanghai had only 1.17 million registered children aged 14 or younger in 2009.
If the … Read more : Family planning adversely affecting Shanghai growth.

India asks rich nations to keep their promises to spur growth

UNITED NATIONS – India has called upon rich nations to urgently fulfil their commitment to provide more funds, transfer technology and undertake capacity building in developing countries to spur international development.

“The lack of progress on building a robust global partnership needs to be urgently addressed,” Indian External Affairs Minister S.M. Krishna said while addressing a … Read more : India asks rich nations to keep their promises to spur growth.

Bills vote in favor of allowing NFL Players Association to decertify in event of lockout

Bills players back NFLPA in decertification vote

ORCHARD PARK, N.Y. – Buffalo Bills players became at least the fifth NFL team to vote in favor of giving the NFL Players Association the right to decertify in the event of a lockout next year.
Bills union representative safety George Wilson said the vote was unanimous and held after … Read more : Bills vote in favor of allowing NFL Players Association to decertify in event of lockout.

Ahead of Obama meeting, Chinese premier plays down differences with US

China seeks to play down differences with US

NEW YORK – Chinese Premier Wen Jiabao expressed optimism Wednesday that the United States and China would resolve major trade frictions, even as he rejected U.S. claims that Beijing’s currency policies cost American jobs.
Despite sometimes tough words, Wen used much of a speech on the sidelines of a …. Source article  : Ahead of Obama meeting, Chinese premier plays down differences with US.

IHS fiscal 3rd-quarter earnings slightly below year-ago on charge, revenue grows 14 percent

IHS 3Q earnings slightly below year-ago results

ENGLESWOOD, Colo. – IHS Inc. posted third-quarter earnings late Wednesday that were slightly below its year-ago results, despite a solid revenue increase.
The Englewood, Colo., consulting company reported net income of $34.6 million, or 53 cents per share, on $272.1 million in revenue for the three months ended Aug 31. [..] Read the original article: here.

Democrat in Conn. US Senate race, unions take aim at McMahon’s management of wrestling empire

Dem, unions bash McMahon, WWE in Conn. Senate race

HARTFORD, Conn. – Democratic U.S. Senate candidate Richard Blumenthal and his supporters in organized labor united Wednesday to heap criticism on Republican Linda McMahon and how she has run her Connecticut-based professional wrestling empire.
At one news conference, Blumenthal, the state’s attorney general, mentioned how McMahon “took home” … Read the original article on Gaea Times at : Democrat in Conn. US Senate race, unions take aim at McMahon’s management of wrestling empire.

Egg company heads give Congress few answers on what led to salmonella outbreak

Egg company heads give Congress few answers

WASHINGTON – The heads of two Iowa egg farms linked to as many as 1,600 salmonella illnesses this summer gave Congress few answers in testimony about the conditions at their farms Wednesday, as one executive would not testify and the other did not answer many of the lawmakers’ questions.
The … Read this article on Gaea Times at : Egg company heads give Congress few answers on what led to salmonella outbreak.

Summary Box: Forbes looks to harness ‘entrepreneurial’ journalism with a redesign

Summary Box: Forbes undergoes radical overhaul

THE NEWS: Forbes magazine is launching redesigned print and Web editions this week.
THE BACKGROUND: Declining print advertising rates is draining profits from Forbes and the magazine industry as a whole.
THE STRATEGY: The magazine is building a vast network of bloggers who are expected to build their own personal audience and …. Original article  : Summary Box: Forbes looks to harness ‘entrepreneurial’ journalism with a redesign.

DineEquity, parent of Applebee’s and IHOP, says sales in 3rd quarter trending up

Applebee’s, IHOP parent 3Q sales trending higher

GLENDALE, Calif. – DineEquity Inc. the parent company of Applebee’s and IHOP restaurants, on Wednesday said its third-quarter sales are trending higher in both chains.
For the first 11 weeks of the 12-week period, revenue at Applebee’s restaurants open at least a year increased 2.7 percent over last year, the … Read the original article on Gaea Times at : DineEquity, parent of Applebee’s and IHOP, says sales in 3rd quarter trending up.

The Fed worries about something unusual: Inflation may actually be too low

Unusual worry for economy: Is inflation too low?

WASHINGTON – It might seem like prices are rising wherever you look, from medical care to college tuition. Yet to the Federal Reserve, they might not be going up fast enough.
The Fed says a little more inflation might be just the thing to start a chain reaction that …. Original source  : The Fed worries about something unusual: Inflation may actually be too low.

Blockbuster soon to file for Chapter 11 bankruptcy protection, according to reports

Report: Blockbuster Ch. 11 filing likely soon

NEW YORK – Troubled video-rental chain Blockbuster Inc. is planning to file for Chapter 11 reorganization any day now, according to published reports.
Citing sources with knowledge of the situation that it did not name, the Wall Street Journal says Blockbuster is working with creditors to develop a restructuring plan … Original article on : Blockbuster soon to file for Chapter 11 bankruptcy protection, according to reports.

BioMed Realty Trust begins 13.5 million share sale; to help cover acquisitions, debt payments

BioMed to sell 13.5M shares to fund acquisitions

SAN DIEGO – BioMed Realty Trust Inc. on Wednesday said it is selling 13.5 million shares of common stock.
The real estate investment trust, which focuses on locations for biotechnology and pharmaceutical companies and scientific research facilities, said it plans to use the proceeds of the offering to partly … Original article on : BioMed Realty Trust begins 13.5 million share sale; to help cover acquisitions, debt payments.

Starbucks to raise prices on big, labor-intensive drinks as raw coffee prices rise

Starbucks plans price increases on some drinks

Starbucks customers will soon get a jolt before any caffeine touches their lips. The world’s biggest cafe chain is raising prices.
Raw coffee prices have been rising. Starbucks said on Wednesday that it has absorbed the higher prices until now, but no more. It said the price increases will be …. Read the original article  : Starbucks to raise prices on big, labor-intensive drinks as raw coffee prices rise.