Britain to cut child benefit payments as part of austerity package

Britain to cut child benefit payments
LONDON – Britain’s government is to scrap child benefit payments for middle income and high-earning families as part of its plan to slash government spending, Treasury chief George Osborne said Monday.

Osborne, who is scheduled to deliver a speech to the Conservative Party’s annual rally in Birmingham, central England, later said … Read more »»».

World stocks mixed amid higher commodity prices, strong data out of China

World stocks mixed amid higher commodity prices

BANGKOK – World stock markets were mixed Monday, with European shares failing to enjoy the boost that Asia received from higher commodity prices and stronger Chinese manufacturing growth.
Oil hovered above $81 a barrel in Asia after a big gain Friday on renewed hopes that demand for crude will improve. …. Source article  : World stocks mixed amid higher commodity prices, strong data out of China.

GMR Energy wins transmission project in Rajasthan

NEW DELHI – GMR Energy Limited (GEL) Monday said it has won two contracts from Rajasthan Rajya Vidyut Prasaran Nigam for a transmission project.

It would set up 400 km of 400 KV transmission lines with two power sub-stations based at Alwar and Deedwana.
The project would be on a build-own-operate-maintain (BOOM) basis, the …. Original article  : GMR Energy wins transmission project in Rajasthan.

Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra ??? Penalised

The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949  for … Read : Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra ??? Penalised.

IVRCL bags projects worth Rs.1119.76 crore

MUMBAI – IVRCL Infrastructure Monday said it has bagged orders worth Rs.1,119.76 crore for various construction projects.

The water division of the company has bagged orders worth Rs.451.22 crore and the building division has won projects worth Rs.440.01 crore, the company said in a regulatory filing.
The company’s transportation division has also got …. Source article on Gaea Times at  : IVRCL bags projects worth Rs.1119.76 crore.

Officials now outcasts in small, scandal-plagued Calif city they have lived in for decades

City scandal makes officials outcasts in hometown

BELL, Calif. – There was a time in this modest blue-collar community when Mayor Oscar Hernandez was all but hailed as a superhero, the big friendly guy who said hello to everybody when he wasn’t busy greeting them at his venerable corner grocery store.
Those days ended abruptly last July … Read more : Officials now outcasts in small, scandal-plagued Calif city they have lived in for decades.

SPIN METER: Government austerity or bailouts? US Chamber of Commerce takes both sides

SPIN METER: Business group turns on past allies

WASHINGTON – During the worst of the economic crisis, the nation’s most powerful business lobby pleaded with Congress to prop up financial institutions and stimulate the economy with hundreds of billions of dollars in borrowed money.
“Make no mistake: When the aftermath of congressional inaction becomes clear, Americans will … Read more »»».

US: China, ASEAN should strengthen Spratlys pact to keep peace, sea lanes open

US: China, ASEAN should strengthen Spratlys pact

MANILA, Philippines – China and the Southeast Asian nations disputing ownership of the Spratlys islands need to turn their 2002 accord into a legally binding code to prevent clashes and keep the vast region open to commerce, the U.S. ambassador said Monday.
China and the 10-member Association of Southeast Asian …. Source  : US: China, ASEAN should strengthen Spratlys pact to keep peace, sea lanes open.

Sanofi-Aventis goes hostile with $69/share offer for US biotech company Genzyme

Sanofi-Aventis launches Genzyme takeover battle

PARIS – France’s Sanofi-Aventis on Monday launched a hostile $18.5 billion takeover offer for Genzyme Corp., stepping up its effort to capture the U.S. biotech company’s promising drugs for high cholesterol and lucrative treatments for rare genetic disorders.
The offer for Cambridge, Massachusetts-based Genzyme – at $69 per share – is unchanged …. Original article  : Sanofi-Aventis goes hostile with $69/share offer for US biotech company Genzyme.

Verizon wireless to pay back $50 mn for false charges

WASHINGTON – Verizon, the largest US wireless company, says it will refund $50 million or more to customers who were mistakenly charged for data usage on their cell phones, Bloomberg financial news service reported Monday.

The company said it would pay back money to 15 million customers in the next two months. The Federal Communications … Original article on : Verizon wireless to pay back $50 mn for false charges.

Sensex starts week on a strong foot

MUMBAI – A benchmark index of Indian equities Monday was ruling 167 points higher, marking a positive start to the week’s trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,501.21 points, was ruling at 20,612.6 points, up 167.56 points or 0.82 percent from its previous close at …. Source  : Gaea News Network.

Oil holds steady above $81 in Asia on hopes of growth in demand for crude

Oil above $81 in Asia on signs demand to improve

KUALA LUMPUR, Malaysia – Oil prices held gains above $81 a barrel Monday in Asia on renewed hopes that demand for crude will improve.
Benchmark oil for November delivery eased 2 cents to $81.56 a barrel at midday Kuala Lumpur time in electronic trading on the New …. Original article  : Oil holds steady above $81 in Asia on hopes of growth in demand for crude.

Researchers unveil biggest survey on sex in US since 1994; details orgasm gap, condom usage

New survey on sex in US, biggest since 1994

NEW YORK – The male-female orgasm gap. The sex lives of 14-year-olds. An intriguing breakdown of condom usage rates, by age and ethnicity, with teens emerging as more safe-sex-conscious than boomers.
That’s just a tiny sampling of the data being unveiled Monday in what the researchers say is … Read : Researchers unveil biggest survey on sex in US since 1994; details orgasm gap, condom usage.

Asian stock markets climb amid higher commodity prices, investors await central bank decisions

Asian shares climb amid higher commodity prices

BANGKOK – Asian markets climbed Monday as higher commodity prices boosted resource stocks and stronger growth in Chinese manufacturing raised confidence in the economic recovery.
Oil held gains above $81 a barrel in Asia on renewed hopes that demand for crude will improve. The dollar was up against the yen …. Source  : Asian stock markets climb amid higher commodity prices, investors await central bank decisions.

Tokyo shares rise on US gains

TOKYO – Japanese stocks climbed in Monday morning trading following gains on Wall Street and as exporters were boosted by a fall in the value of the yen.

The benchmark Nikkei 225 Stock Average gained 81.84 points, or 0.87 percent, to trade at 9,486.07 while the broader Topix index was up 2.8 points, or 0.34 …. Source  : Tokyo shares rise on US gains.

Money Market Operations as on October 01, 2010

…. Source article on Gaea Times at  : Money Market Operations as on October 01, 2010.

With China taking the lead, Europe and Asia will address global economic crisis during summit

EU-Asia summit to address economy
BRUSSELS – European and Asian leaders will seek common ground on ways to fix and regulate the global financial market but will likely be bogged down by such issues as market restrictions and trade surpluses during three days of summits.

Monday kicks off with the opening of the two-day Asia-Europe ASEM summit …. Source article on Gaea Times at  : With China taking the lead, Europe and Asia will address global economic crisis during summit.

Wells Fargo exec admits verifying only the date on hundreds of foreclosure documents he signed

Bank exec checked only date on foreclosure docs

WASHINGTON – A Wells Fargo executive has acknowledged that he verified only the dates on up to 150 foreclosure documents he signed daily.
The executive made his admission in a May deposition involving a Washington state homeowner. He said he relied on co-workers to ensure that other information in …. Original article on Gaea Times at  : Wells Fargo exec admits verifying only the date on hundreds of foreclosure documents he signed.

Celine aims to change the fashion industry, fabric bolt by bolt

Celine aims to redefine luxury values
PARIS – After redefining the way women dress, Phoebe Philo – Celine designer and purveyor of the new minimalism that has taken catwalks and Main Street by storm – is aiming to redefine the values of the luxury industry.

Many of the supple silks and cotton fabrics that made up her …. Source article  : Celine aims to change the fashion industry, fabric bolt by bolt.

NBA commissioner Stern not pondering possible lockout, says league focused on labor deal

Stern focused on labor deal, not pondering lockout

MILAN – NBA commissioner David Stern insisted Sunday he hasn’t thought about the effects of a possible lockout next year, and gave new assurances that the league and players’ union remain focused on reaching a new labor agreement.
The sides are divided over the renewal of the collective bargaining … Read more »»».