Saturday, July 3, 2010

Business - 03 July 2010

  • Job gloom at all-time high
    Sat, 03 Jul 2010 05:57:58 -0700
    More Americans than ever before feel they have no hope of finding a job.
  • New terminal at Delhi airport proves skeptics wrong: PM
    Sat, 03 Jul 2010 05:50:26 -0700
    NEW DELHI (Reuters) - A new terminal was inaugurated at the busy New Delhi airport on Saturday just 37 months after work began, providing a much needed boost to India's faltering infrastructure ambitions.
  • CTF mutual suspends new business
    Sat, 03 Jul 2010 05:44:28 -0700
    A major provider of stock market based child trust funds stops taking new business on all but the most basic accounts
  • Ukraine close to winning $14.9 billion IMF bailout
    Sat, 03 Jul 2010 05:37:13 -0700
    KIEV (Reuters) - Ukraine came closer on Saturday to winning a bailout from the International Monetary Fund as an IMF mission said it would recommend lending $14.9 billion in a deal to help fill Ukraine's budget gap and boost investor confidence.


  • Ukraine Agrees New $14.9 Billion IMF Standby Loan Arrangement
    Sat, 03 Jul 2010 05:36:12 -0700
    The International Monetary Fund agreed a new $14.9 billion standby arrangement with Ukraine after a mission to the country approved its economic policies aimed at reducing the budget deficit.
  • Imf Announces New $14.9 Bln Staff-Level Agreement for Ukraine
    Sat, 03 Jul 2010 05:24:11 -0700
    The International Monetary Fund announced a new staff-level agreement for Ukraine worth $14.9 billion. Under the terms of the agreement, the government must achieve a budget deficit of 5.5% of gross domestic product this year and 3.5 percent next year, the IMF said in an e-mailed statement today. The government must also ensure the country’s banks are sufficiently capitalized and must undertake reforms in the energy industry, the IMF said.
  • EADS CEO slams Boeing "propaganda," and sees WTO appeal
    Sat, 03 Jul 2010 05:17:07 -0700
    AIX-EN-PROVENCE, France (Reuters) - EADS Chief Executive Louis Gallois on Saturday slammed arch-rival Boeing's "propaganda campaign" over a World Trade Organization panel ruling and said it was a sign of fear ahead of a decision on a hotly contested U.S. aerial tanker contract.


  • U.S.’s Startup Myth; China’s ‘Ford Moment’: Commentary Review
    Sat, 03 Jul 2010 05:15:10 -0700
    (The following are excerpts from the past week’s Bloomberg News columns. For full text of any column, click on the command below the writer’s name. Opinions are those of the columnists.)
  • New oil drilling rules awaited from Washington
    Sat, 03 Jul 2010 05:08:48 -0700
    HOUSTON (Reuters) - Washington was preparing a revised offshore oil drilling moratorium and cleanup efforts in the Gulf of Mexico returned to normal on Friday after hurricane Alex passed through the region without doing major damage.


  • 7.9 million jobs lost - many forever
    Sat, 03 Jul 2010 04:35:29 -0700
    The recession killed off 7.9 million jobs. It's increasingly likely that many will never come back.
  • Parisians say bonjour to the Apple Store
    Sat, 03 Jul 2010 04:23:40 -0700
  • Obama commits nearly $2 billion to solar companies
    Sat, 03 Jul 2010 04:20:27 -0700
    WASHINGTON (Reuters) - President Barack Obama, under pressure to spur job growth, said on Saturday two solar energy companies will get nearly $2 billion in U.S. loan guarantees to create as many as 5,000 green jobs.
  • Europeans oppose sovereign default stress test: report
    Sat, 03 Jul 2010 04:16:38 -0700
    BERLIN (Reuters) - European regulators oppose including a sovereign default scenario in stress tests they are conducting on banks, German magazine Der Spiegel reported on Saturday.


  • Congo Fuel Truck Blast Leaves at Least 270 Dead
    Sat, 03 Jul 2010 03:40:00 -0700
    A fuel truck explosion in eastern Democratic Republic of Congo last night killed about 270 people, a United Nations official said.
  • Obama Announces Loan Guarantees for Solar Firms Abengoa, Abound
    Sat, 03 Jul 2010 03:38:11 -0700
    President Barack Obama today announced $1.85 billion in loan guarantees to Abengoa SA’s Abengoa Solar unit and Abound Solar Inc. to build sun-powered facilities in the U.S. that he said will create thousands of new jobs.
  • Strike ends at Japanese electronics firm in China
    Sat, 03 Jul 2010 03:30:27 -0700
    SHANGHAI (Reuters) - Workers at a Japanese-owned electronics factory in north China returned to work on Saturday after a four-day strike, China's official news agency said.
  • EU Recovery ‘On Track,’ ECB’s Tumpel-Gugerell Says (Update1)
    Sat, 03 Jul 2010 03:14:10 -0700
    Europe’s recovery from a debt crisis that roiled global markets is “well on track,” a member of the European Central Bank governing council said in Shanghai today.
  • Loyola College declared SIFE India National Champions, headed...
    Sat, 03 Jul 2010 02:54:21 -0700
    Mumbai ,July 3 (ANI-Business Wire India): Loyola College from Chennai was declared the national winners at the SIFE India National Championship 2010 for their project.
  • MPs want new ban on ticket touts
    Sat, 03 Jul 2010 02:50:16 -0700
    A number of MPs are calling for the prohibition of ticket-touting at major sporting events to be widened.
  • ECB sees positive growth outlook despite budget cuts
    Sat, 03 Jul 2010 02:00:27 -0700
    SHANGHAI (Reuters) - Fiscal consolidation in Europe will drag on growth in the short-term but overall economic prospects are positive, a senior European Central Bank policymaker said on Saturday.
  • ECB says fiscal consolidation impact on growth limited
    Sat, 03 Jul 2010 01:40:39 -0700
    SHANGHAI (Reuters) - Fiscal consolidation in Europe will have some, but not a significant, impact on growth in the short term, a European Central Bank board member said on Saturday.
  • Apple says iPhones overstate signal strength
    Sat, 03 Jul 2010 01:40:27 -0700
    NEW YORK (Reuters) - Apple Inc came clean on Friday about an embarrassing software glitch that overstates network signal strength in its hot-selling iPhone, as complaints mounted about the phone's wraparound antenna.
  • India’s Singh Opens Delhi Airport Terminal 3, Easing Travel
    Sat, 03 Jul 2010 01:36:00 -0700
    Indian Prime Minister Manmohan Singh today opened a terminal that will double capacity at New Delhi airport and ease travel into the world’s second-most populous country.
  • RBS moves hands again, account holders to get HSBC brand
    Sat, 03 Jul 2010 01:24:14 -0700
    HSBC is set to take over the Indian retail and commercial banking operations of Royal Bank of Scotland (RBS), which in turn is largely the acquired operations of ABN Amro Bank in the country.
  • Bankers not in a hurry to hike lending rates
    Sat, 03 Jul 2010 01:23:49 -0700
    Bankers said on Friday that they were not in a hurry to take the RBI?s cue and raise lending rates after the central bank hiked key policy rate to tame prices as macroeconomic managers grappled for options to contain inflation without upsetting broader growth. But business leaders fretted the signal of a credit squeeze might affect expansion plans.
  • MF assets plunge by Rs 127,621 cr
    Sat, 03 Jul 2010 01:23:17 -0700
    The 3G auction may have been healthy for the government coffers, but it has eaten into the assets under management (AUM) of mutual fund houses.
  • RBI bites bullet, raises rates
    Sat, 03 Jul 2010 01:22:38 -0700
    The Reserve Bank of India (RBI) made a surprise pull on Friday with a sudden increase in two of its policy rates, apparently worried by the prospect of a rise in inflation in the backdrop of concerns over monsoon rains.
  • Mining law gets going
    Sat, 03 Jul 2010 01:22:05 -0700
    The government on Friday said that a high-level panel headed by Finance Minister Pranab Mukherjee will meet on July 22 to sort out the inter-ministerial differences over the proposed mining legislation.
  • China small power plants closures ahead of schedule
    Sat, 03 Jul 2010 00:00:26 -0700
    NANJING, CHINA (Reuters) - China will reach the 2010 goal of closing coal-fired power plants with a total installed capacity of 10 gigawatt (GW) next month, the head of the National Energy Administration said, as part of moves to reduce reliance on the hydrocarbon.
  • Former Stanchart India exec to return to bank - report
    Fri, 02 Jul 2010 23:40:27 -0700
    MUMBAI (Reuters) - Former Standard Chartered executive V. Anantharaman is returning to the bank as managing director and head of its corporate finance and advisory business in India, the Economic Times reported on Saturday, without citing any sources.
  • India silver futures touch new high
    Fri, 02 Jul 2010 23:04:48 -0700
    India silver futures may extend gains to hit a fresh record high this month on bullish trend overseas amid global economic uncertainty, coupled with reviving imports, say traders.
  • Bharti Airtel forays into Niger with $100 million
    Fri, 02 Jul 2010 22:53:13 -0700
    Bharti Airtel Ltd will invest about $100 million in Niger to improve the reach and quality of its network in Niger by the end of 2012.
  • Toyota: New Lexus recall
    Fri, 02 Jul 2010 20:17:01 -0700
    Toyota Motor Co. said Friday that it was moving ahead with plans to recall about 138,000 Lexus cars for engine problems that could, in rare instances, lead to stalling.
  • U.S. regulator probes Mazda, BMW steering complaints
    Fri, 02 Jul 2010 20:10:28 -0700
    WASHINGTON (Reuters) - More than 342,000 cars made by Mazda Motor Corp and Bayerische Motoren Werke AG are under investigation by the U.S. auto safety regulator for possible steering defects that could lead to loss of vehicle control.
  • America's Battle for Economic Independence
    Fri, 02 Jul 2010 20:00:00 -0700
    Heavy foreign investment signals a vote of confidence, not a loss of autonomy, as the U.S. celebrates the 4th of July
  • Internet Crime: Vuvuzela Meets Viagra
    Fri, 02 Jul 2010 20:00:00 -0700
    E-mail spammers latch onto football's World Cup as the latest online hook for marketing come-ons. When will Web users learn?
  • GM to file mid-August IPO: sources
    Fri, 02 Jul 2010 16:44:15 -0700
    NEW YORK/FRANKFURT/DETROIT (Reuters) - General Motors Co plans to file its nearly $20 billion initial public offering in mid-August, a source familiar with the situation said Friday, later than some expected as bankers work to help sort out the automaker's finances post-bankruptcy.


  • Investors expect change in BP leadership: report
    Fri, 02 Jul 2010 16:09:17 -0700
    NEW YORK (Reuters) - Investors in BP expect to see a change in its leadership, with a shake-up possible once the oil giant's leaking well in the Gulf of Mexico is capped, the Financial Times reported on Friday, citing leading shareholders and people close to the group.


  • Apollo threatens to withdraw offer for Brit over lack of access to books
    Fri, 02 Jul 2010 16:02:36 -0700
    Private equity firm Apollo has threatened to withdraw its proposed offer to buy Brit Insurance.
  • Toyota recalling 270,000 cars that may stall
    Fri, 02 Jul 2010 15:34:52 -0700
    DETROIT (Reuters) - Toyota Motor Corp said on Friday it would recall 270,000 of its luxury Lexus models and Toyota Crown sedans for the chance that faulty valve springs may cause engine stalling.


  • Carbon Credits to Conserve Uganda
    Fri, 02 Jul 2010 15:00:00 -0700
    A small experiment in Uganda that uses carbon credits to fund reforestation could provide a viable template for poor nations to conserve their green cover.
  • Bulls on the run in shortened trading week
    Fri, 02 Jul 2010 14:57:35 -0700
    NEW YORK (Reuters) - Bearish bets in the equity options market, coupled with an increasingly sour view from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend next week.


  • Apple says iPhones overstate signal strength
    Fri, 02 Jul 2010 14:30:21 -0700
    NEW YORK (Reuters) - Apple Inc came clean on Friday about an embarrassing software glitch that overstates network signal strength in its hot-selling iPhone, as complaints mounted about the phone's wraparound antenna.


  • AIG can proceed with workers comp lawsuit vs rivals
    Fri, 02 Jul 2010 14:02:03 -0700
    NEW YORK (Reuters) - A Chicago federal judge has authorized American International Group Inc to pursue a lawsuit accusing rival insurers of illegally conspiring to cause it harm in the workers' compensation market.


  • Why Britain's railways are a secret weapon in shunting the deficit into history
    Fri, 02 Jul 2010 13:09:36 -0700
    Oscar Wilde knew how to prepare for a railway journey. "I never travel without my diary," the Irish wit once remarked. "One should always have something sensational to read in the train."

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