China should end preferential policies for automotive companies in order to curb over-capacity in an industry where sales jumped 55 percent in August, a government official said.
Chennai, Sep 4 : The hotel industry in the south is heading for a massive expansion with 119 new hotels set to add about 11,000 additional rooms, Mr T Natarajan, Secretary, South India Hotels and Restaurants Association (SIHRA) said today.
Unchecked expansion of China's auto industry encouraged by local authorities could harm the wider economy, a central government official said Saturday, warning excess capacity must be "resolutely" stopped.
AP - A crane hoisted a key piece of oil spill evidence to the surface of the Gulf of Mexico on Saturday, giving investigators their first chance to personally scrutinize the blowout preventer, the massive piece of equipment that failed to stop the gusher four months ago.
AP - A crane hoisted a key piece of oil spill evidence to the surface of the Gulf of Mexico on Saturday, giving investigators their first chance to personally scrutinize the blowout preventer, the massive piece of equipment that failed to stop the gusher four months ago.
AFP - The Macondo well, which spilled an estimated 4.9 million barrels of oil into the Gulf of Mexico, has been secured and no longer constitutes "a threat," a senior US official said.
SPACE.com - The former
Hurricane Earl put on a striking weather display for astronauts on the
International Space Station, impressing the crew with its strength even as it
weakened to a tropical storm.
SPACE.com - As an international team of volunteers in Russia approaches the three-month mark in its ambitious simulation of a 520-day flight to Mars, researchers are keeping a
close watch on how the six men are physically and psychologically coping.
Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.
LiveScience.com - As the Deepwater Horizon oil spill unfolded earlier this
summer, a mechanical engineer helped cleanup crews keep up with the moving
target by developing a steady stream of forecasts that predicted where the oil
slick would spread several days in advance.
TOKYO - JAPAN'S Suzuki Motor Corp is planning to build a new factory in India capable of producing more than 250,000 vehicles a year, the Nikkei business daily reported on Sunday. Suzuki aims to start operations at the new plant as soon as 2013, the newspaper reported without citing a source.
Reuters - At least 18 people were killed in Guatemala on Saturday, including a dozen on a bus that was buried in a landslide, as heavy rains lashed the Central American nation and southern Mexico.
THE landscape industry is set to receive a boost from the National Productivity Fund in support of its efforts to improve workplace efficiency. This was announced by Deputy Prime Minister and Defence Minister Teo Chee Hean on Saturday at the unveiling of the National Parks Board's (NParks) new Landscape Industry Productivity Roadmap.
Reuters - Venezuelan President Hugo Chavez has approved a $690 million payment to French retailer Casino and other owners of a supermarket chain nationalized earlier this year, state media said on Saturday.
Reuters - BP Plc's ruptured Gulf of Mexico oil well is secure with no threat of spewing crude again, the top U.S. official overseeing the spill response said
AFP - Prosecutors have called for French state energy giant EDF, accused of spying on environmental campaigners Greenpeace, to face criminal trial, EDF lawyer Alexis Gublin said Saturday.
AP - The remnants of Hurricane Earl took aim at Nova Scotia early Saturday after a brush with the Northeast that was far less intense than feared, dumping heavy, wind-driven rain on Cape Cod cottages and fishing villages accustomed to nor'easters.
Rajasthan Industry Department and International Finance Corporation (IFC), a World Bank Group member, have signed an MoU to promote the state as an attractive investment destination.
In just a matter of days, young Grayson Smith's dream will come true. Grayson and his family will embark on a trip of a lifetime, made possible by the Dream Factory of Lake Ozark.
Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.
Reuters - Hipster brand American Apparel Inc is in talks to bring in an outside restructuring firm as the manufacturer and retailer struggles to fix its flagging operations, sources told Reuters on Friday.
Virginia's restaurant industry said Friday it won't take a position on Gov. Bob McDonnell's proposed tax on restaurant liquor sales until it know more about the rest of the governor's plan. The Virginia Hospitality & Travel Association said it "takes great interest in the proposal of ABC privatization." Restaurant sales ...
Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.
Investor's Business Daily - The South Korean automaker is recalling 56,000 cars, the Soul and Sorento, sold in the U.S. and South Korea, because of defective wiring harnesses that could cause fires. Kia Motors said some harnesses made by Johnson Controls for lighting in '10 model-year Soul cars and 2011 model-year Sorento SUVs were improperly soldered, leading to possible electrical shorts. Kia's Soul sales had more than doubled through Aug. in the U.S. to nearly 44,000 units.
AP - UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.
Reuters - A biotechnology company's genetically engineered salmon are as safe to eat as other Atlantic salmon, U.S. regulators said as they weighed approval of the first DNA-altered animal for Americans' dinner plates.
AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.
AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.
Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.
Industrial Alliance Insurance and Financial Services Inc., Canada’s fourth-biggest insurer, said Friday it has acquired the life insurance policies of California-based Golden State Mutual for US$11 million.
First Industrial Realty Trust, Inc. , a leading provider of industrial real estate supply chain solutions, today announced that its board of directors declared a dividend of $0.45313 per depositary share on its 7.25% Series J Cumulative Redeemable Preferred Stock for the quarter ending September 30, 2010 payable on September 30, 2010 to stockholders of record on September 15, 2010. Â
AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
AP - A thumbnail-sized clam blamed for clouding the azure bays of Lake Tahoe high in the Sierra Nevada has now turned up in a mountain-ringed Adirondack lake renowned for its limpid, spring-fed waters.
AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.
The wine industry has endured a tough few years, but those tough times appear not to be over just yet. Agribusiness editor Neal Wallace reports overproduction of grapes and plummeting asset values will force vineyards and wineries to amalgamate, and some to fail. read more
Industrial Alliance Insurance and Financial Services Inc. announces that it has completed today the acquisition of the in-force life policies of California-based Golden State Mutual .
Designed for pumping in potentially hazardous industrial environments, 6 in. model DV-150iE Industrial Duty pump handles solids to 3 in., flows to 2,600 gpm, and head to 195 ft. Pump, when combined with pipe and tanks, offers complete solution for liquid-handling in industrial duty applications. This story is related to the following: Fluid and Gas Flow Equipment Sponsored by: SNAP-TITE INC ...
BusinessWeek - Goldman Sachs may not have a lot of friends in the White House these days, but one of its former employees has made a good impression. After three years as an analyst in Goldman's fixed-income, currencies, and commodities division, Monique Pean began her own jewelry line that can now be found in Barneys, Jeffrey New York, and around the neck of Michelle Obama.
NEW DELHI: Industry body Assocham today suggested that the government should confer industry status to the logistic sector to bring down the transaction cost of goods.
The latest salmonella outbreak underscores the failures of industrial farming, writes columnist Nicholas D. Kristof. Jamming chickens into small cages is a nightmare for the animals — and the salmonella outbreak underscores that it can be a health hazard to humans as well.
FACTORY output is showing signs of faltering with a key indicator suggesting that Singapore's manufacturing sector has shrunk for the first time in 16 months. The Purchasing Managers' Index (PMI), a barometer of factory production, fell to 49.4 in August, an early warning sign of slowing output given that a reading of less than 50 indicates contraction.
AP - Pushed by an ill-timed trough of low pressure, Hurricane Earl is heading uncomfortably close to an area relatively few hurricanes tend to go: the Northeast coastline.
FACTORY ORDERS: Orders to U.S. factories rose 0.1 percent in July, the first increase after two months of declines. AIRCRAFT SURGE: The strength came from a 75.9 percent surge in orders for commercial aircraft. That offset declines in a number of areas,... Aircraft - United States - Business - Factory - Aerospace and Defense