“Intel in talks with India's ITI for jv: report - Daily Journal” plus 4 more |
- Intel in talks with India's ITI for jv: report - Daily Journal
- Air travelers are feeling the squeeze - Cleveland Plain Dealer
- Nicor Subsidiary Birdsall To Buy Deluxe Freight - Update - RTT News
- CA-BUSINESS Summary - ReportonBusiness.com
- THE INFLUENCE GAME: Jobless aid helps business - Yahoo Finance
| Intel in talks with India's ITI for jv: report - Daily Journal Posted: 07 Nov 2009 08:57 PM PST MUMBAI (Reuters) - Intel (INTC.O), the world's largest chip maker, is planning to participate in bids invited by Indian state-owned telecom equipment maker ITI Ltd (ITEL.BO) to set up joint ventures, the Business Standard reported on Friday. ITI intends to be a minority partner in the proposed joint ventures with a 26 percent stake according to the bid proposals, the newspaper said. An Intel spokeswoman said the company did not respond to market speculation or rumors. The paper said Intel was interested in making the hardware and consumer premise equipment around WiMAX technology, which provides for wireless transmission of data up to 75 megabytes per second. Though interested parties have been asked to participate before January 29, 2010, the telecoms ministry is holding a pre-bid conference before selecting them, the paper said. Other global players that have showed interest include Huawei HWT.UL, Alcatel-Lucent (ALUA.PA), Samsung (005930.KS) and Hitachi (6501.T), the paper said. (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan/John Mair) This content has passed through fivefilters.org. |
| Air travelers are feeling the squeeze - Cleveland Plain Dealer Posted: 08 Nov 2009 05:33 AM PST By Plain Dealer wire servicesNovember 08, 2009, 8:37AMMost domestic airlines reported that the load factor -- the percentage of seats filled -- topped 80 percent for the third quarter as carriers cut flights out of their schedules. So though fewer passengers are flying these days, planes are fuller because fewer seats are available, industry analysts say. And that trend of high load factors is expected to continue through the holidays. "Business travelers, who pay three to four times more per ticket, used to subsidize some empty seats, and because airlines don't have that business traveler anymore, they will stick as many low-yielding passengers -- all the way to the gills -- into a plane," said Planes are so full that it might be time to rethink that time-honored strategy of accepting money or vouchers for volunteering to be bumped. You just might not get back on anytime soon. The July-September quarter is traditionally the strongest for airlines as leisure travelers fill up planes during the summer and business travelers start flying again in the fall. But with the recession, domestic carriers had to drop airfares dramatically to entice vacationers to fly in late summer. They ended up cutting flight capacity in September because business travel demand was low. As a result, analysts say load factors remained strong, in the low- to mid-80 percent range, in the third quarter. That was true even at For the third quarter, "Our load factors have been consistently running at record levels and in some cases beating some long-standing previous records," Chief Executive Three of the largest domestic carriers -- At Though passengers are taking advantage of low fares, the lack of business travelers is making it difficult for American to predict how full its planes will be this winter. "Uncertainty persists about how travel demand will trend," American Chief Financial Officer The days of the middle seat being empty on a plane are long gone, analysts said. As a result of skyrocketing fuel prices in the summer, airlines started pulling planes out of service because flying them half-full was too expensive. When corporations cut travel budgets during the recession, airlines decreased their flights schedules even more. "Since the airlines have downsized so much over the last two years, the load factors are going to remain pretty high," said And until business travel demand picks up again, most airlines will continue to adjust their schedules. Analysts say that if the price of crude oil continues to go up -- it's now trading at nearly He said domestic carriers are already running about as full as possible, as 100 percent load factors are statistically impossible because planes are often flown empty overnight to start their routes in the morning. And that has emboldened airlines to start increasing fares slightly. For example, most carriers have added a "You get anywhere past 85 percent, you are as full as you can get," Boyd said. "What that means is they have pricing traction. They can add a surcharge here or there." TIPS FOR PASSENGERS What's a holiday traveler to do? Analysts suggest making sure passengers have a seat assignment long before going to the airport. And if the airline offers vouchers or cash to give up a confirmed seat on an oversold flight, don't take it. "If you get bumped, the likelihood of you getting a seat on the next flight is relatively low," Seaney said. With full flights, any sort of weather disruption during the holiday season could result in passengers stuck at an airport for days, trying to find an open seat on another flight. Parsons said it could take up to four days to accommodate passengers from flights canceled because of weather during the holidays. With airfare sales last week that offered round-trip tickets for as low as
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| Nicor Subsidiary Birdsall To Buy Deluxe Freight - Update - RTT News Posted: 06 Nov 2009 03:36 PM PST
(RTTNews) -
Friday, Nicor Inc. (GAS: News ) said its subsidiary, Birdsall, Inc., has signed a definitive agreement to acquire Deluxe Freight, Inc. The terms of the agreement were not disclosed. Birdsall is the parent company of Tropical Shipping with involvement in containerized freight in the Bahamas and Caribbean. Miami-based Deluxe Freight is a non-vessel operating common carrier into the Cayman Islands, its primary market since 1996. It has a strong and loyal customer base in the less-than-container load or LCL and full-container load consolidation segment of the market. Deluxe Freight will remain headquartered in Miami and will operate as a separate brand. Rick Murrell, Tropical Shipping's chairman and presiden said, "Cayman is a key market for Tropical and our most significant in terms of LCL revenue. While the acquisition is small in relation to our total volumes, the Deluxe brand addition expands our service offerings in a market that is important to our long-term success." Willie Munoz, president of Deluxe Freight, will remain in his current position. Michael Pellicci, chief financial officer of Tropical Shipping, who will manage the separate brands, said, "After acquiring Caribtrans last year, we believe Deluxe represents a great fit in continuing Tropical's strategic expansion of our logistic services to benefit our Caribbean customers." Nicor's primary business is natural gas distribution in the United States. Besides distributing natural gas to approximately 2.2 million residential, commercial, and industrial customers in northern Illinois, the company operates approximately 34,000 miles of mains and 8 underground storage fields. The company also provides shipping services, including the transportation of containerized freight between Florida, the eastern coast of Canada, the Bahamas, and the Caribbean region. GAS closed Friday's last trade on the New York Stock Exchange at $38.34, down $0.11 or 0.29%. by RTT Staff Writer For comments and feedback: contact editorial@rttnews.com This content has passed through fivefilters.org. |
| CA-BUSINESS Summary - ReportonBusiness.com Posted: 08 Nov 2009 05:11 AM PST GM to stick to Opel cuts plan: future chairman ZURICH (Reuters) - General Motors Co Magna's Wolf says Opel needs more independence: report FRANKFURT (Reuters) - European carmaker Opel needs to be able to operate with more freedom from its U.S. parent General Motors Flaherty says transaction tax unattractive ST ANDREWS, Scotland (Reuters) - Proposals for a tax on financial transactions to fund the cost of future bank bailouts are unattractive, Finance Minister Jim Flaherty said on Saturday. British finance minister Alistair Darling said at a G20 meeting of developed and emerging economies that the UK would back such a plan if it received broad international support, but Flaherty and U.S. Treasury Secretary Timothy Geithner were skeptical. UK gives impetus to global banks tax ST ANDREWS, Scotland (Reuters) - Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly. British Prime Minister Gordon Brown raised the idea at a weekend meeting of Group of 20 financial leaders in Scotland -- ending London's resistance to such moves on behalf of its huge financial sector. Canada October job losses reverse positive trend OTTAWA (Reuters) - Canada lost more jobs in October than even the gloomiest analyst had predicted, dashing hopes for a quick economic rebound and suggesting a recovery in the labor market may have gotten off to a false start. The economy unexpectedly lost 43,200 jobs in the month after two months of gains, pushing the jobless rate up to 8.6 percent from 8.4 percent, Statistics Canada said on Friday. Gold miners pull TSX out of jobs-linked funk TORONTO (Reuters) - Toronto's main stock index ended higher for a fourth straight session on Friday as gold miners rallied around record high bullion prices, offsetting the index's fall at the outset on weak jobs data that fueled worry about economic recovery. Shares of Barrick Gold Corp Canada's Talisman strikes oil in Peru LIMA (Reuters) - Canada's Talisman Energy Inc has found light crude in an exploration bloc in northern Peru, President Alan Garcia said on Saturday, days after he announced a large natural gas find in an Amazon region. Talisman Air Canada posts net profit, sees recovery signs OTTAWA (Reuters) - Air Canada CF rejects Agrium's sweetened proposal TORONTO (Reuters) - U.S. fertilizer maker CF Industries Canadian dollar stung by unexpectedly weak jobs data TORONTO (Reuters) - Canada's currency skidded to its lowest closing level in nearly a week on Friday, stung by U.S. and Canadian jobs data that fell short of estimates and left investors with a reduced appetite for riskier assets. After reclaiming all of the post-jobs-data losses suffered during early stages of Friday's session, the Canadian currency ran into a fresh wave of selling heading into the close of the North American session. © Reuters Limited. All Rights Reserved. This content has passed through fivefilters.org. |
| THE INFLUENCE GAME: Jobless aid helps business - Yahoo Finance Posted: 06 Nov 2009 03:12 AM PST WASHINGTON (AP) -- Emergency help for the jobless will be a huge windfall for Realtors, homebuilders, mortgage bankers and others, and that's no accident.  AP - A sign rests in front of a house for sale Wednesday, Nov. 4, 2009, in Shelby, Ohio. Buying ... Those industries have spent months and millions of dollars making the case for $20 billion in tax cuts for homebuyers and businesses to help create jobs and revive a sluggish housing market. Their lobbying campaign paid off Thursday when Congress voted to pass the tax breaks as part of a broader extension of unemployment benefits. President Barack Obama signed the bill into law Friday. The legislation, which provides up to 20 weeks in additional pay to more than 1 million people who have lost or are in danger of losing jobless aid, passed by overwhelming bipartisan margins. It also would extend until the spring a tax credit of up to $8,000 for first-time homebuyers that had been slated to expire at the end of the month, add smaller credits for some who own a home, and make the money available to wealthier people. The popular tax break is estimated to cost $10.8 billion over the next decade, and businesses that stand to benefit have flooded Capitol Hill in recent weeks to push it through. Realtors mobilized their 1.2 million members across the country to write and call their representatives and senators to urge extension of the credit, warning that failure to do so could cause this year's housing market uptick to grind to a halt. Several dozen of them flew to Washington recently to visit members of the tax-writing House Ways and Means Committee and the Senate Banking, Housing and Urban Affairs Committee to press the point. In case they didn't get the message, Realtors sent more than 500,000 letters to Capitol Hill and made nearly 13,000 phone calls to Senate offices last weekend to corral support in advance of a key procedural vote on Monday, according to a spokesman. "There are Realtors everywhere who understand the impact of the tax credit to moving the housing market," said the National Association of Realtors' Lucien Salvant. Lawmakers tend to listen to the politically active bunch. Public disclosures show Realtors have spent nearly $14 million lobbying Congress so far this year, and their political action committee gave about $12 million to candidates in the last election, according to the federal campaign finance records compiled by the Center for Responsive Politics. Sen. Johnny Isakson, R-Ga., an architect of the tax credit, was a Realtor before he was elected. He was instrumental in pushing through the original credit as part of housing legislation last year, and extending it in the stimulus bill enacted in February. Among the other prominent boosters of the homebuyer break were the National Association of Homebuilders and the Mortgage Bankers Association, whose members depend on robust housing sales to survive. They joined Realtors in arguing that allowing the tax break to end could drag down a weak economy. Bill Killmer of the Homebuilders called the credit "a pretty powerful tool" in getting people contemplating buying a house to "move to yes and be motivated" to close the deal. Like the Realtors, homebuilders have been citing the tax credit in their marketing campaigns, using the government subsidy to propel their "Buy now!" message. There have been bumps in the road, including a recent audit by an Internal Revenue Service watchdog -- released just as momentum was building for renewing the credit -- that detailed mistakes, questionable claims and criminal schemes in the program. Proponents of the tax break scrambled to assuage lawmakers' fears and were quick to voice support for adding anti-fraud measures to the legislation. "It was something that caused the Congress to step back," Killmer said of the IRS report, but homebuilders urged lawmakers not to abandon the credit, and in the end, he said, "they didn't throw out the baby with the bath water." Nor did cost concerns -- a huge issue as Congress grasps for an agreement on a costly health overhaul -- derail the measure in the face of determined lobbying by business groups. Along with the homebuyer credit, the package contains another $10 billion tax break that allows companies that suffered during the last two years to use recent losses to reclaim taxes paid in the previous five years, when times were good. Big businesses that were cut out of that tax break when it was included in the stimulus measure early this year lobbied Congress to let them take advantage of it this time. They included retailers and manufacturers, among others, who said the measure would propel employment. "If retailers can't find a way to finance inventories for the 2009 holiday season, many could be forced to close stores, lay off workers or even go out of business," said Rachelle Bernstein of the National Retail Federation. "This will help keep that from happening." Information on the bill, H.R. 3548, can be found at http://thomas.loc.gov National Association of Realtors: http://www.realtor.org/ Mortgage Bankers Association: http://www.mortgagebankers.org National Association of Homebuilders: http://www.nahb.org/ This content has passed through fivefilters.org. |
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