Debate sparked by Gates’ arrest and Obama’s remarks show how race remains a flashpointWASHINGTON — The need for President Barack Obama to conduct “beer diplomacy” between a respected black scholar and the white policeman who arrested him demonstrates that race relations have yet to fade into the background of U.S. society. Earnings Preview: Shell to report profits down in 2Q, test for new CEOAMSTERDAM — Royal Dutch Shell PLC is scheduled to report second-quarter financial results Thursday. The following is a summary of key developments and analyst opinion related to the period. Hartford Financial posts 2nd-quarter loss as premiums decline, investment income fallsHARTFORD, Conn. — Hartford Financial Services Group Inc. said Wednesday that it lost $15 million in the second quarter, weighed down by losses on investments and a decline in premiums. Usha Martin posts 50 percent drop in profitKOLKATA - Speciality steel and wire rope manufacturer Usha Martin Limited Wednesday posted a consolidated profit after tax of Rs.32.03 crore for the first quarter of the current fiscal, against Rs.65.08 crore for the corresponding period last year. Nissan reports 16.5 billion yen loss in fiscal first quarter, notes some recovery signsTOKYO — Nissan reported a smaller-than-expected 16.5 billion yen ($175.5 million) loss for the fiscal first quarter Wednesday and unveiled plans to build more cars in China, one of the few auto markets where sales are still growing. Obama wants to take heat out of Gates-Crowley brouhaha, ‘beer and de-escalation’WASHINGTON — The chief White House spokesman said a Thursday meeting of the president, a Harvard University scholar and the policeman who arrested him will be “about having a beer and de-escalation.” Official: Iran releases 140 prisoners detained during crackdown on election protestsTEHRAN, Iran — Iran on Tuesday released 140 people detained in Iran’s postelection turmoil and the supreme leader ordered the closure of a prison where human rights groups say jailed protesters were killed, in a nod by authorities to allegations of abuses in the crackdown on protests. Gunmen kill 8 guards in Baghdad bank robbery, make off with nearly $7 million, police sayBAGHDAD — Gunmen killed eight security guards and made off with nearly $7 million during a brazen bank robbery Tuesday in central Baghdad in the second such assault in a week. While overall violence is down in Iraq, ordinary crime has emerged as an increasing threat to the country’s stability. Sales of new homes rise at fastest clip in 8 years; economists see housing comebackWASHINGTON — New home sales rose last month at the fastest clip in more than eight years as buyers eagerly took advantage of bargain prices — a clear sign, economists said, that the real estate market may finally be bouncing back. Uneven earnings and economic news weigh on stocks, putting a 2-week rally on holdNEW YORK — Mixed reports on the economy and earnings sent the stock market drifting on Monday, easing off a two-week rally that lifted major indexes 11 percent. The rains come at last, but Delhi is crippled (Night Lead)NEW DELHI - The monsoon’s heaviest rainfall Monday almost flooded the Indian capital, disrupting flights, inundating low-lying areas and snapping traffic lights, causing havoc all across the city. GAIL approves pipeline projects worth $1.6 bnNEW DELHI - State-run gas transmission and marketing company GAIL India has approved pipeline projects worth more than Rs.8,000 crore (Rs.80 billion/$1.6 billion) to transport hydrocarbons, including an over-2,000 km line from Uttar Pradesh to West Bengal. TNT Post Q2 profit falls 60 percent, sees scant evidence of recoveryAMSTERDAM — TNT NV, Europe’s second-largest post company, reported Monday a 60 percent fall in net profit for the second quarter and said it sees little evidence of an economic recovery. Drop that watering can! Severe Texas drought forces communities to issue conservation rulesDALLAS — Off-duty police officers are patrolling streets, looking for people illegally watering their lawns and gardens. Residents are encouraged to stealthily rat out water scofflaws on a 24-hour hot line. One Texas lake has dipped so low that stolen cars dumped years ago are peeking up through the waterline. Treasury prices hold steady ahead of auctions next week; Treasury to issue $205B of debtNEW YORK — Treasury prices were little changed Friday as investors refrained from making big moves ahead of another round of auctions. Schlumberger second-quarter profit falls 57 percent as oilfield activity declinesHOUSTON — Schlumberger Ltd. exemplified the ongoing troubles for oil and gas industry, reporting Friday its second-quarter earnings tumbled 57 percent and offering an uncertain outlook for the rest of 2009 and beyond. Democratic divisions slow Obama’s health care overhaul; he says, ‘Just keep working’WASHINGTON — Slow down, Senate Democrats told President Barack Obama on Thursday, dashing hopes of rushing his sweeping health care overhaul to a summertime vote and adding to the troubles the plan could face as the year wears on. “That’s OK,” the president replied gamely. “Just keep working.” Ecuador’s Correa asks Colombian rebels to confirm alleged donation to presidential campaignQUITO, Ecuador — President Rafael Correa made a direct plea Thursday to leaders of Colombia’ main leftist rebel army to confirm whether they contributed to his 2006 election campaign. Newmont 2nd qtr profit drops on lower copper prices, costs related to gold mine purchaseDENVER — Newmont Mining Corp. said Thursday its second-quarter profit sank 40 percent as copper prices fell 39 percent, its tax bill jumped significantly and it purchased a stake in an Australian gold mine. No compromise on security of leaders, Pranab assures MPs (Second Lead)NEW DELHI - There would be no compromise on the security of political leaders, the government asserted Thursday as reports of protection cover being downgraded created an uproar in parliament with the opposition disrupting both the Lok Sabha and the Rajya Sabha. Swedish construction group Skanska’s net profit rises 9 percent in Q2 as margins improveSTOCKHOLM — Skanska AB, the Nordic region’s biggest construction company, on Wednesday said net profit rose by 9 percent in the second quarter as an improvement in margins offset weaker revenues. Obama ytries to rally support for health care overhal, says debate is ‘not a game’WASHINGTON — Six months in office, President Barack Obama sought to rally support for sweeping health care legislation Wednesday night as Congress struggled to find agreement on a historic overhaul. He vowed to reject any measure “primarily funded through taxing middle-class families.” Prime-time news conference as health care debate reaches a key momentWASHINGTON — Six months into his presidency, Barack Obama now owns America’s problems and a solid but slipping approval rating. He goes before the nation Wednesday night to defend his economic decisions and press his fight for the health care overhaul he says is desperately needed. US Bancorp 2nd-qtr profit falls 50 percent on higher credit costs, charge to repay gov’t loanMINNEAPOLIS — U.S. Bancorp says its second-quarter profit dropped 50 percent as credit costs rose and it repaid a government loan. Sensex loses 221 points, ends below 15,000-mark (Second Lead)MUMBAI - A key index of the Indian equities markets reversed its day’s gains to end 221 points in the red Wednesday, below the 15,000-mark. Fla. woman gets year of house arrest for leaving 2 grandchildren in car while she played slotsFORT LAUDERDALE, Fla. — A Florida woman has been sentenced to 14 months of house arrest for leaving two grandchildren alone in a parked car while she went to play the slots. Black scholar arrested after reported break-in at Mass. home; colleagues claim profilingBOSTON — Supporters of a prominent Harvard University black scholar who was arrested at his own home by police responding to a report of a break-in say he is the victim of racial profiling. UnitedHealthcare acquires Health Net’s Northeast operations for about $510 millionNEW YORK — Managed care provider UnitedHealth Group Inc. said Monday it will pay about $510 million to buy rival Health Net Inc.’s operations in the northeastern U.S., which include 578,000 members in Connecticut, New York and New Jersey and are expected to generate 2009 revenue of about $2.7 billion. Kasab’s confession - how the LeT trained Mumbai attackersMUMBAI - Pakistani terrorist Mohammed Ajmal Amir Kasab, in his dramatic confession before a special court Monday, said that he was a decorator by profession but since his income was little, he was attracted to ‘jehad’ (holy war). Terry slithers to glory in ‘World’s Fastest Snail’ raceLONDON - Terry the snail was declared the World’s fastest of his kind Saturday, slithering to victory in an annual race in eastern England, taking two minutes 49 seconds to cover 33 centimetres. |
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