Moody’s considers rating downgrade for loan program offered through Calif. pension fundsSACRAMENTO, Calif. — Moody’s Investment Service says it is considering downgrading ratings for programs tied to California’s two giant pension funds. Calif budget talks at standstill as state offices close and health program halts enrollmentSACRAMENTO, Calif. — Negotiations over closing California’s $26.3 billion budget deficit appeared stuck Friday, as government offices closed for the second time this month and a health program for low-income children stopped accepting new applicants. Struggling Irish airline Aer Lingus hopes new German CEO can win fight with RyanairDUBLIN — Struggling Irish airline Aer Lingus Group PLC on Friday appointed Christoph Mueller as its new chief executive in hopes that the German’s experience running low-cost airlines will give it an edge over archrival Ryanair. British Airways sees loss, seeks almost $1 billion in debt issue, pension dealLONDON — Hard-pressed British Airways said Friday it plans to raise 600 million pounds ($980 million) to see it through the recession and financial losses, which it estimated at 100 million pounds for the three months through June. British Airways sees loss, to raise 600 mln pounds in debt issue, pension dealLONDON — Hard-pressed British Airways said Friday it plans to raise 600 million pounds ($980 million) to see it through the recession and financial losses, which it estimated at 100 million pounds for the three months through June. Rain battered Mumbai crawls back to normalcyMUMBAI - Mumbai limped back to normalcy as heavy rains receded Wednesday afternoon, after having battered India’s financial capital for almost three days causing waterlogging in many areas, traffic snarls and affecting rail services. Stimulus measures showing results, says MukherjeeNEW DELHI - Finance Minister Pranab Mukherjee Wednesday told the Rajya Sabha that the result of the stimulus measures have started showing results with recovery in many sectors. Geithner reassures Gulf leaders US wants to work with the region to solve global recessionRIYADH, Saudi Arabia — U.S. Treasury Secretary Timothy Geithner said Tuesday his country had a “special responsibility” to help guide the world through its worst recession in decades, and stressed that while a recovery was ongoing, setbacks were likely. Meltdown 101: A trillion dollars in red ink _ and the budget year isn’t even over yetWASHINGTON — In a year of eye-popping numbers, add one more: The government’s annual budget deficit has topped $1 trillion. Federal budget deficit hits milestone, tops $1 trillion with 3 months left in budget yearWASHINGTON — The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar. Bihar sets up group to tackle drought-like situationPATNA - The Bihar government Monday set up a crisis management group to suggest measures to tackle the drought-like situation in the state, officials said. Education funding, welfare reforms emerge as main sticking points in Calif. budget talksSACRAMENTO, Calif. — California’s top lawmakers on Sunday focused on cost-saving reforms to social welfare programs and how deeply to cut an array of state services as they dove into the complex task of closing the state’s $26 billion deficit. Madhya Pradesh budget criticised by oppositionBHOPAL - Madhya Pradesh Finance Minister Raghavji Friday presented in the state assembly a Rs.102.96 crore deficit budget for the financial year 2009-10, which the opposition termed as “anti-development”. SEC expected to call for California IOUs to be regulated as securitiesWASHINGTON — The recipients of billions of dollars in IOUs being issued by California soon may have a regulated market where they could sell them. Dallas police cut extra protection at Bush homeDallas (Texas, US),J - The Dallas Police Department has cut back on some of the additional protection that the department provided around the Preston Hollow home of former President George W. Bush. Partisan differences plague health care bill in Senate, raise doubts about timetableWASHINGTON — Senate Democrats edged away Wednesday from their goal of passing ambitious health care legislation by early August amid heightening partisan controversy over tax increases and a proposed new government role in providing insurance to consumers. Schwarzenegger says his welfare reforms are long overdue, appropriate for budget talksSACRAMENTO, Calif. — Gov. Arnold Schwarzenegger on Wednesday defended his proposals to reform welfare and other social programs as negotiations over closing California’s $26.3 billion deficit remained frozen. Pak seeks US assistance to raise anti-militant forceWASHINGTON - Pakistan’s Parliamentary Affairs Minister Babar Awan has urged Washington to provide weapons and other equipments to help Pakistan set up a 400,000-strong anti-militant force. Heavy rains disrupt normal life in Mumbai, yet again
Punjab budget focuses on energy, social sectorCHANDIGARH - The Punjab government Tuesday presented the budget for 2009-10, laying emphasis on the energy and social service sectors. Pope urges new financial order guided by ethics, dignity, search for common good in encyclicalVATICAN CITY — Pope Benedict XVI called Tuesday for a new world financial order guided by ethics and the search for the common good, denouncing the profit-at-all-cost mentality blamed for bringing about the global financial meltdown. NASCAR asks court to reverse ruling, restore driver Jeremy Mayfield’s drug suspensionCHARLOTTE, N.C. — NASCAR asked a federal judge Monday to reverse the ruling that lifted driver Jeremy Mayfield’s indefinite suspension for failing a random drug test. Brown, Sarkozy push for sanctions on tax havens, ambitious targets to fight global warmingEVIAN, France — The leaders of France and Britain pushed Monday for ambitious targets for tackling climate change and cracking down on uncooperative tax havens, ahead of upcoming meetings with other heads of state this week and in September. Panjab University hails budgetary grantCHANDIGARH - The faculty and students of Panjab University, where Prime Minister Manmohan Singh was both a student and a teacher, Monday hailed the budgetary grant of Rs.50 crore (Rs.500 million) to the cash-starved institution. Highlights of union budget for 2009-10 (Fifth Lead)NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: Pranab peppers speech with Gandhi, Kautilya quotesNEW DELHI - In preparing some of his fiscal proposals, Finance Minister Pranab Mukherjee found inspiration in Mahatma Gandhi and Kautilya, both of whom he quoted in his budget speech Monday. Tight budgets force delayed tax refunds delayed from Ga. to Calif. when taxpayers need it mostATLANTA — Colin Daymude was out of work last year after his business failed and eagerly filed his taxes in mid-January, figuring he’d get his refund sooner. He was wrong. AP answers your questions on the news, from Afghan poppies to interest rates and debtThe U.S. government has been plunging deeper and deeper into debt, and the White House expects the budget deficit to get close to $2 trillion by the end of the year. Summary of Economic Survey 2008-09NEW DELHI - The speed with which the Indian economy returns to the high growth path in the short term depends on the revival of the economy, particularly the US economy and the Government’s capacity to push some critical policy reforms in the coming months, says the Economic Survey 2008-09, which was presented by Finance Minister Pranab Mukherjee in Parliament today. Schwarzenegger declares fiscal emergency in California, orders offices closed 3 days a monthSACRAMENTO — Gov. Arnold Schwarzenegger has declared a fiscal emergency to address California’s deficit and has ordered state offices closed three days a month to save cash. |
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MUMBAI - Normal life was disrupted in Mumbai, Thane and the surrounding areas following heavy rains since Tuesday night which continued virtually unabated till Wednesday morning.Several low-lying areas of the city were flooded with two to four feet of water, including Charni Road, Mumbai Central, Mazagaon, Byculla, Parel, Worli, Matunga, Sion, Dadar in the southern parts of the city.
