Person with knowledge of deal: Saints ans state agree to extension of Superdome leaseNEW ORLEANS — The New Orleans Saints have agreed to a lease extension that will keep the NFL team playing home games in an improved Louisiana Superdome through the 2025 season. Japan’s factories show signs of life as output rises for 1st time in 6 months, more gains seenTOKYO — Japan’s struggling manufacturers are showing signs of life: The government said Thursday that industrial production rose for the first time in six months in March. Obama says waterboarding was torture, says he has no regrets on release of interrogation memosWASHINGTON — President Barack Obama said Wednesday night that waterboarding authorized by former President George W. Bush was torture and that the information gained from terror suspects through its use could have been obtained by other means. “In some cases, it may be harder,” he conceded at a White House news conference marking a whirlwind first 100 days in office. US Federal Reserve sees some signs of economic recoveryWASHINGTON - The US economy appears to be contracting at a slower rate than in previous weeks in a sign that it is beginning to stabilise, the US Federal Reserve said Wednesday. Starbucks 2Q profit falls 77 percent on restructuring, but adjusted earnings beat estimatesNEW YORK — Starbucks Corp. said Wednesday its fiscal second-quarter profit dropped 77 percent because of big restructuring charges related mainly to the closure of 123 U.S. cafes. House passes $3.4 trillion budget plan that endorses Obama’s agenda, health care overhaulWASHINGTON — Acting with unusual speed, the House on Wednesday adopted a $3.4 trillion budget outline that endorses much of President Barack Obama’s ambitious agenda while permitting the national debt to continue to spiral higher. NJ regulators authorize bankruptcy sale for Atlantic City’s TropicanaATLANTIC CITY, N.J. — The Tropicana Casino and Resort in Atlantic City, N.J., will be auctioned off to the highest bidder in U.S. Bankruptcy Court. Gazprom’s 4Q net profit slides 84 percent on plunging demandMOSCOW — Russia’s state-owned natural gas company Gazprom said Wednesday that its full-year net profit rose by 13 percent to 743 billion rubles ($22.2 billion) in a year that saw gas and oil prices soar, then fall. But the recession appeared to hit its earnings hard at the end of the year. German airline Lufthansa reports first quarter net loss of euro256 millionFRANKFURT — German airline Lufthansa reported a first quarter net loss of euro256 million ($339.6 million) Wednesday, as the economic crisis cut into global travel and freight volumes. US economy shrinks 6.1 percent in first quarterWASHINGTON - The US economy contracted at an annual rate of 6.1 percent in the first three months of 2009, the US Commerce Department said in its initial estimate Wednesday. IAC reports first-quarter loss, though revenue beats analyst estimatesNEW YORK — The recession took a bite out of IAC/InterActiveCorp in the first quarter, as revenue fell 22 percent in the Internet company’s media and advertising unit, which includes Ask.com. Debate rages on name change for swine flu, WHO says noWASHINGTON - The international health community and pork producers are debating a change in name for the swine flu virus that has left people sick in several countries and could be responsible for 152 deaths in Mexico. Grocer Safeway Inc. reports 1st-qtr results Thursday; recession may continue taking a tollPORTLAND, Ore. — Grocery-store operator Safeway Inc. reports its fourth-quarter results on Thursday. The following is a summary of key developments related to the period. Fears of flu pandemic threaten new storm for global economy just as clouds seem to be partingNEW YORK — The swine flu outbreak is unleashing a side effect the global economy is in no condition to handle: fear. Gold prices slide further, close below $900 an ounce as swine flu fears batter commoditiesNEW YORK — Gold prices are lower as fears of a global swine flu pandemic rattle commodities markets. BofA, Citi must raise more capital, according to preliminary results of bank ’stress tests’WASHINGTON — Citigroup Inc. and Bank of America Corp. will need to raise more capital based on preliminary results of their government-run “stress tests” — unless they succeed in appealing the findings, according to two people familiar with the matter. Office Depot posts 1st-quarter loss on charges, but adjusted results top analyst estimatesCHICAGO — Office Depot Inc. surprised Wall Street on Tuesday when it reported that, excluding its cost-cutting efforts and other one-time events, its first-quarter profit was much better than expected. Federal Reserve gathers as swine flu poses new danger, uncertainty to US economyWASHINGTON — Federal Reserve policymakers are weighing whether additional steps are needed to brace the economy as an outbreak of the swine flu has emerged as a potential new danger that could aggravate the recession. Starbucks to broaden appeal by expanding lower-priced, milder-tasting Seattle’s Best CoffeeNEW YORK — Starbucks Corp. is hoping its Seattle’s Best Coffee chain will be its growth engine during the recession. NTT DoCoMo’s annual net profit falls 3.9 percent on weak handset salesTOKYO — NTT DoCoMo Inc., Japan’s top mobile phone carrier, said Tuesday its annual net profit slipped 3.9 percent to 471.9 billion yen ($4.9 billion) as the recession hit sales of handsets. Foreign investment and tourists to Vietnam decline in first 4 months of 2009HANOI, Vietnam — The global recession has taken a toll on foreign investment and tourism to Vietnam in the first four months of the year, the government said Tuesday. British Columbia starting liaison office in ChandigarhCHANDIGARH - Despite the global economic meltdown, the government of Canada’s British Columbia (BC) province is all set to establish a business investment and skills liaison office here to foster entrepreneurs and to encourage trade and investment from northern Indian states in BC and vice-versa. WSJ: Fed officials tell Bank of America, Citi stress tests show they may need to raise capitalWASHINGTON — Bank of America Corp. and Citigroup Inc., which have each received $45 billion in government bailout funds, have been told by regulators that “stress test” results show they may need to raise additional capital, The Wall Street Journal said Tuesday. Swine flu epidemic enters new phase as death toll climbs in Mexico, US cases nearly doubleMEXICO CITY — The swine flu epidemic entered a dangerous new phase Monday as the death toll climbed in Mexico and the number of suspected cases there and in the United States nearly doubled. The World Health Organization raised its alert level but stopped short of declaring a global emergency. World Bank says financial crisis could turn into calamity for many poor countriesWASHINGTON — The global financial crisis could become “a human and development calamity” for many poor countries, the World Bank said, urging donor nations to speed delivery of money they have pledged and consider giving more. Obama more popular than his predecessors after first 100 days in officeWASHINGTON - US President Barack Obama has emerged more popular than any of his recent predecessors in his first 100 days in office, according to opinion polls. Japan expects economy to contract 3.3 percent in fiscal 2009TOKYO - The Japanese government Monday announced the steepest-ever downward projection of the nation’s economic growth as the world’s second-largest economy suffers its worst recession in postwar history. Survey: Hospitals cutting services, staff, other spending as recession hurts their financesTRENTON, N.J. — Ailing from the recession, many U.S. hospitals have had to begin making painful cuts to patient services and laying off staff, as previous cost-cutting hasn’t been enough, an industry survey found. Local newscasts cutting jobs and salaries while adding hoursNEW YORK — Local TV news operations across the country are cutting jobs and slashing salaries. That hardly makes them unique during this recession, particularly among media organizations. Leftist President Rafael Correa declares re-election victory in EcuadorQUITO, Ecuador — President Rafael Correa, a leftist economist who has championed the poor and alienated international investors, appeared headed for easy re-election Sunday in a break with Ecuador’s history of political instability. |
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