Sunday, August 29, 2010

Business - 29 August 2010

  • Ideas Wanted: Multinationals Open Doors to Entrepreneurs
    Sun, 29 Aug 2010 07:49:40 -0700
    Giants such as GE and PepsiCo are sponsoring competitions that let startups strut their stuff
  • Roche says no decision on job cuts this week
    Sun, 29 Aug 2010 07:31:00 -0700
    ZURICH (Reuters) - Swiss drugmaker Roche Holding AG said on Sunday it would not make any decision on job cuts this week, after Swiss newspaper Sonntag reported it could be about to cut thousands of positions.

  • Hurricane Earl Tracks West in Atlantic; Danielle Weakens
    Sun, 29 Aug 2010 07:28:05 -0700
    Hurricane Earl moved west toward the northern Leeward Islands after strengthening from a tropical storm, and Hurricane Danielle weakened as it tracks north away from Bermuda, the U.S. National Hurricane Center said.
  • Israeli Bonds Decline as Bernanke Speech Drives Up U.S. Yields
    Sun, 29 Aug 2010 07:25:00 -0700
    Israeli bonds dropped, pushing up yields the most in more than a week, after U.S. Federal Reserve Chairman Ben S. Bernanke tempered speculation that the bank will buy more Treasuries, sending the yield on 10-year notes soaring.
  • Qatar, Israel Shares Advance on Bernanke’s Pledge, Oil Gains
    Sun, 29 Aug 2010 07:22:00 -0700
    Qatar and Israel shares advanced, leading a rally in Middle East markets, after U.S. Federal Reserve Chairman Ben S. Bernanke pledged to safeguard the recovery of the world’s biggest economy. Oil gained.
  • Shirakawa Returns Early Amid Reports of BOJ Meeting
    Sun, 29 Aug 2010 07:16:00 -0700
    Bank of Japan Governor Masaaki Shirakawa returned to Tokyo today, cutting short a visit to the U.S. following reports the central bank is considering holding an emergency meeting.
  • Bank of Japan likely to meet on Monday to ease policy
    Sun, 29 Aug 2010 07:13:55 -0700
    TOKYO (Reuters) - The Bank of Japan is likely to hold an emergency meeting on Monday to ease monetary policy after Governor Masaaki Shirakawa returned to Tokyo from a trip to the United States earlier than expected.

  • BHP Says Potash Offer Is Fair, Timing of Bid Is ‘Opportune’
    Sun, 29 Aug 2010 07:02:00 -0700
    BHP Billiton Ltd., seeking to acquire Potash Corp. of Saskatchewan Inc. for $40 billion, said the offer is fair and that it would abandon pursuit of the company if it’s not in the best interests of shareholders.
  • At last: Next-day shipping for the iPad
    Sun, 29 Aug 2010 06:17:32 -0700
  • The perfect credit score
    Sun, 29 Aug 2010 06:16:33 -0700
    A major league pitcher dreams of throwing a perfect game. High schoolers eyeing the Ivy League study furiously in hopes of earning 2400 on the SAT. Meanwhile, Chris Peplinski is pursuing his own brand of flawlessness: an 850 credit score.
  • AstraZeneca’s Brilinta Doesn’t Require Genetic Testing
    Sun, 29 Aug 2010 06:16:00 -0700
    Genetic tests won’t be needed to determine whether AstraZeneca Plc’s anti-clot drug Brilinta works, according to a study that may be used to differentiate the medicine from the best-selling Plavix treatment.
  • Are you an All-American homeowner?
    Sun, 29 Aug 2010 06:12:33 -0700
    How does your house stack up against the rest of the nation? The Census Bureau is here to tell you.
  • China Eastern Air Profit Jumps 79% on World Expo, Stronger Yuan
    Sun, 29 Aug 2010 05:36:03 -0700
    China Eastern Airlines Corp., the nation’s second-largest carrier by passenger numbers, saw first- half profit increase 79 percent as Shanghai’s World Expo spurred travel and a stronger yuan cut the repatriated value of debts.
  • Microsoft co-founder sues Google
    Sun, 29 Aug 2010 05:01:47 -0700
    A company owned by billionaire Microsoft co-founder Paul Allen has slapped lawsuit against Google, Apple, Facebook and eight other American technology majors for patent infringement. Interval Licensing Llc has sued these entities for violating patents, most of which are related to a technology that displays information about products to users on the screen. The company has alleged patent violations against Google, Apple, Facebook, AOL, eBay, Netflix, Office Depot, OfficeMax, Staples, Yahoo! and YouTube. The lawsuit, which alleges infringement of
  • HMEL selects IBM as partner for GGS Refinery
    Sun, 29 Aug 2010 05:01:38 -0700
    IBM announced that HPCL- Mittal Energy Limited (HMEL), a joint venture between Hindustan Petroleum Corporation Limited, an Indian government-owned enterprise, and Mittal Energy Investments Pte Ltd, Singapore, a Lakshmi N Mittal Group Company, has selected IBM as its strategic partner in the design and implementation of a state-of-the-art Manufacturing Execution System (MES) for their zero residue refinery. HMEL is investing more than US$4 billion to build the green refinery, which will be able to process 180,000 barrels of crude oil per day. Located
  • India largest recipient of WB loans
    Sun, 29 Aug 2010 05:01:30 -0700
    India was the World Bank s favourite last fiscal when it came to extending financial aid in the form of loans, both among developing countries and the world s poorest nations. The World Bank, through its lending arms IBRD and IDA, committed USD 9.3 billion in financial assistance to India in the 2009-10 fiscal, more than the aid committed by the US and the European Union. The International Bank for Reconstruction and Development (IBRD) committed USD 6.7 billion, or 15.1 per cent of its total lending in the fiscal, to India, according to government
  • Tell a story and win free flight tickets!
    Sun, 29 Aug 2010 05:01:23 -0700
    AirAsia, the world s best low cost airline is running a regional campaign themed Tell Us Your Story from now till 4 October 2010 with up to 100 free flights to be won. AirAsia which turns 9 this December has become the preferred airline in the ASEAN region and beyond. AirAsia will achieve the milestone of flying its 100 millionth guest, surpassing industry expectations and standards for a young airline. Kathleen Tan, Regional Head of Commercial, AirAsia said: For the past 9 years, AirAsia has redefined air travel across Asia, and not only made
  • Violence sends J-K bat industry out of turf
    Sun, 29 Aug 2010 05:01:14 -0700
    Violence in the Valley has cast its ominous shadow on Kashmir s about Rs 30-crore cricket bat industry, known for manufacturing world-famous bats, second only to that made from the English Willow. The bat-hub comprising seven villages -- Charsoo, Hallmullaha, Bijbehara, Sangam, Sethar, Pujteng and Mirzapor in the South Kashmir remains enveloped in an eerie silence with the armed forces taking seize of the road. The bat factories, which as per traders used to manufacture over five lakh bats per annum, spread across a radius of 20 kilometers on the
  • GDP data to drive mkt movement: Analysts
    Sun, 29 Aug 2010 05:01:06 -0700
    The pace of GDP expansion in the Indian economy and cues from global markets will set the tone on Dalal Street this week, analysts said. Investors will have their eyes on the gross domestic product (GDP) growth numbers for the first quarter of 2010- 2011, to be released on Tuesday, the marketmen said. A strong close on Wall Street and European bourses at the onset of the weekend will be a positive trigger for the domestic market on Monday, but the overall sentiment is likely to remain weak, they added. The expansion in the economy is expected to
  • Sony Ericsson unveils new portfolio of phones
    Sun, 29 Aug 2010 05:01:00 -0700
    Sony Ericsson has unveiled its six new phones, including smartphones, GreenHeart and affordable walkman phones. Comprising the Xperia X8, GreenHeart Cedar and Aspen, and Walkman phones - Yendo, Spiro and Zylo, the portfolio will give consumers a wide range to choose from. Elaborating on the launch of the new phones, Anurag Kontu, Marketing Head - India, Sony Ericsson said, Greater access to applications and customizable user experience on handheld devices has shaped the mobile success story in India today. As the communication entertainment brand
  • Nooyi rules herself out of race to succeed Tata
    Sun, 29 Aug 2010 05:00:54 -0700
    PepsiCo Chairman and Chief Executive Officer, Indra Nooyi, who has been speculated to be among the possible candidates to succeed Ratan Tata as Chairman of the Tata Group, has ruled herself out of the race saying she loves her present job. Ratan is an unbelievable person. He has got an incredible stable of people who can succeed him. I am running one of the greatest companies in the world, PepsiCo. I love my job, Nooyi told PTI when asked about the speculation linking her to the top job at the USD 71 billion Indian salt-to- software conglomerate
  • NIIT and Tally announce global alliance
    Sun, 29 Aug 2010 05:00:46 -0700
    NIIT and Tally Solutions have entered into a global alliance to develop comprehensive business software professionals with expertise in Tally.ERP 9.0 product. This global Alliance will cover besides India, international geographies such as the Middle East, Africa, China & Asia- Pacific in a progressive manner, thus making available talent to power the growth of Small & Medium Business (SMB) enterprises. As per industry reports, India needs around 1.3 million business software trained manpower annually to fulfill the talent requirements
  • Wynncom to launch Hindi QWERTY keypad phone
    Sun, 29 Aug 2010 05:00:37 -0700
    Wynncom is now set to entice the consumers with India s first Hindi QWERTY keypad phone-Y-45 which facilitates a tech savvy urban youth to chat in our National language. Wynncom has come up with yet another product innovation; this time the company has devised a new idea to make texting in Hindi possible by introducing a Hindi Qwerty keypad phone. This makes it easier for a user to connect especially in the Tier II and Tier III towns where one can express oneself in Hindi without any language restrictions. On the occasion of the launch, Arvind
  • A monologue to make Apple mend its manufacturing ways
    Sun, 29 Aug 2010 05:00:27 -0700
    MUMBAI (Reuters Life!) - A master storyteller and self-confessed Apple fan hardly makes for a compelling advocate for social change.But Mike Daisey, whose new monologue focuses on what he calls the dark side of Apple's iconic gadgets, hopes he can pressure Chief Executive Steve Jobs to push for better labour conditions at factories in China, where most Apple gadgets are assembled.
  • Fortune ranks Ebix as 3rd fastest growing firm
    Sun, 29 Aug 2010 05:00:22 -0700
    Fortune magazine announced that Ebix, a leading international supplier of On-Demand software and E-commerce services to the insurance industry has been ranked 3RD on the 2010 100 Fastest-Growing Companies list. The success story has appeared in the September 6, 2010 issue of Fortune. Ebix is led by the Indian American Robin Raina and is the only Company in the list of top ten fastest growing Companies led by an Indian. Fortune story highlight that The troubled economy is on all of our minds these days, but sometimes we forget that even in the long
  • Relief to tax payers in offing
    Sun, 29 Aug 2010 05:00:14 -0700
    The Government will table the much-awaited Direct Taxes Code (DTC) bill in the Lok Sabha tomorrow, that is expected to provide relief to income tax payers, both personal and corporate, though not as much as was proposed earlier in the draft. The government is quite confident of replacing archaic Income Tax Act with DTC from April one, 2011. Finance Minister Pranab Mukherjee has said he would announce the slabs for personal income tax while tabling the bill and has refused to share the details before that. He has only said so far that the exemption
  • Sensex may cross 30,000 level: Kela
    Sun, 29 Aug 2010 05:00:06 -0700
    Hinting at near doubling of investments made in stocks, Anil Ambani group s renowned fund manager Madhusudan Kela has predicted that the benchmark Sensex will cross 30,000-point level in the next 3-5 years. Although cautious about the market outlook in the next three months, Kela told PTI that he was highly bullish in the longer term. Kela will be taking over as the Chief Investment Strategist at Anil Ambani group s financial services arm Reliance Capital from September 21, following his elevation from Head of Equities at Reliance Mutual Fund currently
  • German central banker criticised for remarks on Jews
    Sun, 29 Aug 2010 04:30:26 -0700
    BERLIN (Reuters) - German government leaders condemned a central bank executive on Sunday for making anti-Semitic remarks before the publication of his book on Monday that takes a critical look at Turk and Arab immigrants.
  • Central banks 'face more tasks'
    Sun, 29 Aug 2010 03:36:25 -0700
    Central banks may have to provide more economic support amid a fragile global recovery, the deputy governor of the Bank of England warns.
  • Anglo Irish plan faces party, EU opposition: report
    Sun, 29 Aug 2010 03:21:42 -0700
    DUBLIN (Reuters) - A plan to carve out a substantial "good bank" from nationalised Anglo Irish Bank is facing opposition from the European Commission and Ireland's smaller governing party, the Sunday Business Post newspaper reported.

  • BHP says timed Potash bid as rivals were weakened
    Sun, 29 Aug 2010 00:38:57 -0700
    MELBOURNE (Reuters) - Global miner BHP Billiton on Sunday played down any chance of raising its $39 billion bid for fertilizer maker Potash Corp, saying it had timed its move to catch out weakened rival bidders.

  • Dubai World opens talks with small creditors: report
    Sun, 29 Aug 2010 00:37:45 -0700
    DUBAI (Reuters) - Troubled conglomerate Dubai World has begun talks with small creditors, not included in the coordination committee of banks on its restructuring plan, to avoid any lawsuits, a UAE newspaper said on Sunday.

  • No China policy change despite slower growth: gov't advisor
    Sun, 29 Aug 2010 00:08:56 -0700
    BEIJING (Reuters) - China will continue to curb property speculation regardless of recent changes in housing prices, a senior government advisor said in remarks published in Sunday.

  • Feature: JBS journey from small slaughtering house to global giant
    Sat, 28 Aug 2010 22:52:24 -0700
    One of the distinguishing features of changing global beef industry landscape is the rise of JBS S.A. to the top spot surpassing many majors in the industry in a short span of time.
  • Jackson Hole Bubble Clash Shows Challenge for Central Bankers
    Sat, 28 Aug 2010 21:16:04 -0700
    Central bankers and economists at a Federal Reserve symposium clashed over how to best contain asset-price bubbles three years after a crash in U.S. housing prices led to the worst global recession since World War II.
  • No new tax cuts for 'some time'
    Sat, 28 Aug 2010 19:14:00 -0700
    The UK's overall tax burden is likely to remain at its current level for "quite some time", says Chief Secretary to the Treasury Danny Alexander.
  • Fiscal "alchemy" must mimic monetary science
    Sat, 28 Aug 2010 15:37:49 -0700
    JACKSON HOLE, Wyoming (Reuters) - Tax and budget policies need the same regularity and independence as monetary policy if countries around the world are to cope with looming stresses from pension programs, world central bankers were told at a Federal Reserve conference on Saturday.

  • Diageo to back deal on alcohol
    Sat, 28 Aug 2010 14:25:47 -0700
    Drinks giant may back an end to the sale of 'below cost' alcohol in a move set to re-ignite the debate on links between price and problem drinking.
  • Joel Cadbury in £4m pub buy-out
    Sat, 28 Aug 2010 14:24:30 -0700
    The Cadbury heir, entertainment entrepreneur and former co-owner of the Groucho Club, has bought a chain of regional inns as the building blocks to a new pub empire.
  • Don't break up banks, say top UK companies
    Sat, 28 Aug 2010 14:23:54 -0700
    A group of Britain's leading companies is to demand that the Government scraps proposals to break-up Britain's banks.
  • Kirsh suggests Minerva split in boardroom war with executives
    Sat, 28 Aug 2010 14:22:02 -0700
    Nathan Kirsh, the billionaire rebel shareholder battling for control of property developer Minerva, would consider splitting the company in two.
  • Bank of England will use 'all powers' to stave off any future crisis
    Sat, 28 Aug 2010 14:16:58 -0700
    The deputy governor of the Bank of England signalled that the Bank would make aggressive use of new powers planned by the Government to head off any future financial crisis.
  • What 6 teachers spend on their classes
    Sat, 28 Aug 2010 14:16:45 -0700
    Teachers spend hundreds or even thousands of dollars of their own paychecks to buy classroom supplies, and that number could jump as school budgets get even tighter.
  • Northern Rock chief admits to 'catastrophic black mark'
    Sat, 28 Aug 2010 14:09:39 -0700
    Matt Ridley, the former chairman of the failed bank, says he is filled with remorse for what happened.
  • C4 lines up BBC's Hunt for senior creative role
    Sat, 28 Aug 2010 14:06:32 -0700
    Channel 4 is close to offering Jay Hunt, the controller of BBC One, its top commissioning role as chief creative officer.

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