Sunday, May 30, 2010

Business News - 30 May 2010

  • What the Acts Make
    Sun, 30 May 2010 02:40:14 -0700
  • Investing: Sizing Up Online Tools
    Sun, 30 May 2010 02:40:14 -0700
  • Japan’s SDP Leaves Coalition Over U.S. Base Dispute (Correct)
    Sun, 30 May 2010 01:41:00 -0700
    Japan’s Social Democratic Party will leave the government after Prime Minister Yukio Hatoyama dismissed its only Cabinet minister, weakening the ruling coalition less than two months before parliamentary elections.
  • U.K. Coalition’s Treasury Chief Quits Over Expenses (Update2)
    Sun, 30 May 2010 01:32:00 -0700
    U.K. Chief Secretary to the Treasury David Laws resigned from his position after a newspaper reported he’d claimed more than 40,000 pounds ($58,000) in expenses for renting a room from his long-term partner.
  • BA talks finish without agreement
    Sun, 30 May 2010 00:47:55 -0700
    Talks between British Airways and the Unite union to avert further strike action end without a breakthrough.
  • Essar to buy stake in Avaya GlobalConnect
    Sun, 30 May 2010 00:20:27 -0700
    NEW DELHI (Reuters) - Essar Group has agreed to buy 59.13 percent stake in Avaya GlobalConnect (AGC) Networks for $44.5 million, Essar said in a statement.
  • Rio’s Chief Says Mining Tax Creates ‘Silent Partner’ (Update2)
    Sat, 29 May 2010 23:17:00 -0700
    Tom Albanese, chief executive officer of Rio Tinto Group, said Australia’s plan to boost taxes on resources producers would make the government a “silent partner” in businesses such as itself.
  • China’s Wen Says Defusing Korea Tension ‘Urgent Task’ (Update2)
    Sat, 29 May 2010 22:34:00 -0700
    Chinese Premier Wen Jiabao warned against letting the sinking of a South Korean warship lead to conflict in the region, giving no sign of joining other nations in blaming North Korea for the event in which 46 sailors died.
  • Colombians Vote for New President to Build on Uribe’s Legacy
    Sat, 29 May 2010 22:20:12 -0700
    Colombians vote today in the first round of a presidential election that’s too close to call as the frontrunners seek to build on Alvaro Uribe’s success boosting investment and beating back drug-funded rebels.
  • FACTBOX - Developments in the Gulf of Mexico oil spill
    Sat, 29 May 2010 21:50:38 -0700
    REUTERS - Here are developments in the Gulf of Mexico oil spill:
  • UK at risk of double-dip, fiscal cuts should wait - BCC
    Sat, 29 May 2010 21:50:26 -0700
    LONDON (Reuters) - Britain faces the risk of a double-dip recession and the government should hold off making big spending cuts until the recovery is assured, according to the British Chambers of Commerce.
  • BP Begins New Well-Capping Strategy After ‘Top Kill’ Failure
    Sat, 29 May 2010 21:15:58 -0700
    BP Plc began working on a new plan to cap a leaking oil well in the Gulf of Mexico after a three-day effort to stop the flow with a blast of pressurized fluids was unsuccessful.
  • Payrolls May Have Climbed for Fifth Month: U.S. Economy Preview
    Sat, 29 May 2010 21:04:11 -0700
    Employment probably grew in May for a fifth consecutive month, pointing to gains in wages that will help U.S. households ride out the turmoil in financial markets, economists said before reports this week.
  • Spain labour reform deadline extended one week
    Sat, 29 May 2010 20:40:27 -0700
    MADRID (Reuters) - The deadline for a deal on crucial labour market reforms in Spain between the government, unions and business representatives has been extended for a week from the end of the month, the Labour Ministry said on Saturday.
  • Greece will not restructure debt - finmin
    Sat, 29 May 2010 20:30:27 -0700
    ATHENS (Reuters) - Greece will not restructure its debt and will not need more cuts to achieve fiscal targets set in the emergency funding programme it agreed with the European Union and the IMF, its finance minister told a Sunday paper.
  • British Airways cabin crew begin second 5-day strike
    Sat, 29 May 2010 20:10:39 -0700
    LONDON (Reuters) - Members of a British Airways cabin crew union began a second five-day strike on Sunday after talks held last week aimed at resolving the long-running dispute ended without agreement.
  • BA cabin crew start fresh strike
    Sat, 29 May 2010 20:00:39 -0700
    British Airways cabin crew have started a fresh five-day strike with little sign of an end to the dispute.
  • Gulf oil spill: What's at stake
    Sat, 29 May 2010 19:09:58 -0700
    The numbers being batted around when it comes to how much the oil spill will ultimately cost BP and the local Gulf of Mexico economies are huge. $3 billion. $14 billion. One politician put it at over $100 billion.
  • Three U.S. cities on the brink of broke
    Sat, 29 May 2010 18:54:08 -0700
    Several downtrodden cities are on the verge of defaulting on their debt, putting financially encumbered states and taxpayers on the hook to pick up the tab. The National League of Cities says municipal governments will probably come up $56 billion to $83 billion short between now and 2012. That's the tab for decades of binge spending; municipal defaults could be our collective hangover.
  • BP Abandons ‘Top Kill’ Plan
    Sat, 29 May 2010 18:33:00 -0700
    BP Plc said it will switch to a new strategy to cap a leaking oil well in the Gulf of Mexico because a three-day effort to stop the flow with a blast of pressurized fluids was unsuccessful.
  • British Airways cabin crew begin second 5-day strike
    Sat, 29 May 2010 16:39:19 -0700
    LONDON (Reuters) - Members of a British Airways cabin crew union began a second five-day strike on Sunday after talks held last week aimed at resolving the long-running dispute ended without agreement. The new wave of industrial action by the airline's cabin staff started officially at midnight (7 p.m. EDT) with little sign on the horizon of a breakthrough in the increasingly bitter row.


  • 5 of the hottest tech startups
    Sat, 29 May 2010 15:34:48 -0700
    At this week's TechCrunch Disrupt, dozens of startups fought, tournament-style, to impress judges and investors. Here's our pick of the 5 coolest new technologies on display.
  • M&M input costs remain high
    Sat, 29 May 2010 12:38:17 -0700
  • Texmaco Q4 net up at Rs 27.6 crore
    Sat, 29 May 2010 12:38:17 -0700
  • M&M Q4 net profit up 36% to Rs 570 cr
    Sat, 29 May 2010 12:38:17 -0700
  • Dell's Erin Nelson Knows How To Listen
    Sat, 29 May 2010 12:10:00 -0700
    The PC maker's chief marketing officer has helped steer the company through the downturn by taking cues from her customers.
  • Greece will not restructure debt: finance minister
    Sat, 29 May 2010 11:48:27 -0700
    ATHENS (Reuters) - Greece will not restructure its debt and will not need more cuts to achieve fiscal targets set in the emergency funding programme it agreed with the European Union and the IMF, its finance minister told a Sunday paper.


  • U.S. Treasury says it has not considered any other AIA deal
    Sat, 29 May 2010 11:43:15 -0700
    NEW YORK/LONDON (Reuters) - The future of Prudential's deal to buy AIG's Asian life insurance arm remained uncertain on Saturday, with the U.S. Treasury saying it has not considered any other deal than the existing contract on the table.


  • U.S. may choose lead bank on GM IPO next week: report
    Sat, 29 May 2010 11:25:33 -0700
    CHICAGO (Reuters) - The U.S. Treasury and General Motors Co may select a lead underwriter for an initial public offering for the automaker as early as next week, Bloomberg News reported on Saturday.


  • Spain labor reform deadline extended by one week
    Sat, 29 May 2010 11:00:09 -0700
    MADRID (Reuters) - The deadline for a deal on crucial labor market reforms in Spain between the government, unions and business representatives has been extended for a week from the end of the month, the Labor Ministry said on Saturday.


  • Texas Rangers lenders sue to force bankruptcy
    Sat, 29 May 2010 09:53:43 -0700
    CHICAGO (Reuters) - A group of lenders to the Texas Rangers sued on Friday to put the baseball team's equity owners, controlled by private equity investor Thomas Hicks, into bankruptcy.


  • Humbled by crisis, Russia and EU eye summit reset
    Sat, 29 May 2010 09:26:49 -0700
    MOSCOW (Reuters) - Russia and the European Union, both humbled by economic crisis, are set to brush geopolitical disputes aside at a summit next week and instead focus on brass-tacks measures to boost their economies.


  • Visa and Monitise to launch JV in India
    Sat, 29 May 2010 08:38:41 -0700
    Visa Inc and Monitise announced the formation of a joint venture that will provide a technology platform for financial institutions and mobile network operators in India to offer a range of mobile financial services to consumers. The new company will combine Visa s expertise in enabling secure, globally interoperable financial transactions with Monitise s know-how in developing mobile financial technology for a broad range of handsets. The joint venture builds on an existing partnership between Visa and Monitise[2], and will give providers of financial
  • Google brings Creative Sandbox to India
    Sat, 29 May 2010 08:38:12 -0700
    After its grand success in San Francisco, Chicago, New York and Sydney, the Google Creative Sandbox is coming to India! The Google Creative Sandbox was designed to spark the imagination of agencies by immersing them in a highly unique and creative environment that showcases some of the best uses of Google products. The event will highlight the great advances in web technology that are being used by creative minds around the world pushing new boundaries and delivering extraordinary results. Google Creative Sandbox event will be an interactive session
  • Gabriel India Q4 PAT jumps nine folds
    Sat, 29 May 2010 08:37:49 -0700
    Auto components maker Gabriel India today reported a nine fold jump in its profit after tax at Rs 6.39 crore for the fourth quarter ended March 31, 2010. It had a profit after tax (PAT) of Rs 0.71 crore during the corresponding quarter of the previous fiscal, Gabriel India said in a statement. The company also reported a growth of 37.61 per cent in its total revenue for the fourth quarter at Rs 194.08 crore as against Rs 141.04 crore, it added. The resurgent domestic auto market and strong export performance have led Gabriel India to post healthy
  • Pearson to conduct workshop on W-GCTA
    Sat, 29 May 2010 08:37:19 -0700
    Pearson Talent Assessment will conduct a one-day training and certification workshop on June 11th, 2010 in Mumbai. This workshop will focus on learning critical thinking skills, powered by the The Watson-Glaser Critical Thinking Appraisal (W-GCTA) Assessment. The Watson-Glaser Critical Thinking Appraisal (W-GCTA), developed by Pearson Talent Assessment, measures one of the most coveted business skill: Critical Thinking. Critical thinking represents higher level of reasoning abilities that go beyond mere verbal ability. The day-long workshop will
  • Jordanian tourism booms in the first quarter
    Sat, 29 May 2010 08:36:19 -0700
    The first quarter of 2010 heralded good news for Jordan s tourism sector in what could be another landmark year. Statistics by the Ministry of Tourism and Antiquities and the by the Central Bank of Jordan have shown across-the-board increases in both visitor numbers as well as tourism receipts. The Ministry of Tourism has said overnight tourist numbers have jumped 33.4% during the first quarter to 883,450 people from a total of 662,075 in the same period of 2009. Same day visitors were up 17.6% to 651,325 people from 553,929 in 2009. The Ministry
  • UAE economic growth to quicken with no major debt hit seen
    Sat, 29 May 2010 05:49:51 -0700
    DUBAI (Reuters) - The United Arab Emirates' economic growth is expected to accelerate to up to 3.2 percent this year and no further major restructuring of Dubai debt is seen, the Gulf country's economy minister said on Saturday.


  • German Finance Minister hints at potential tax hike
    Sat, 29 May 2010 05:44:19 -0700
    BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble hinted that taxes may have to rise to consolidate Germany's finances one day after coalition sources said the government may scrap a discounted sales tax on some products.

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