Colorado Star
ColoradoStar.com Saturday 5th July 2008 Edition 187/2008
Front Page Breaking Business News
Austrian court convicts nine bank fraudsters


Add to My Yahoo!
Nine people have been convicted of criminal charges in a major Austrian bank fraud...


Inflation rate blows out in Iran
Iran's inflation rate, which has provoked intense criticism of the government, reached 26 percent in...


Air India applies to fly polar route
Air India intends using the polar routes for long haul...


Indian brothers facing fraud charges
Narendra Rastogi, an Indian man accused of fraud, has been extradited back to his homeland from the...


Pringles not potatoes says judge
A High Court judge in London has ruled that Pringles, the tubed snack food, are not potato...


Credit Mutuel of France bids for Citigroup
Credit Mutuel of France has bid for the German retail banking activities of US giant...


Rogue trader bank fined for carelessness
France's central bank has fined Societe Generale $6.3 million for shortcomings in its internal...


Mandela takes action against London gallery
Former South African president Nelson Mandela has decided to take legal action against an art gallery in London for selling sketches it says are...


EU speeds up energy efficiencies
To ease the soaring cost of fossil fuels, EU ministers have promised to place energy efficiency at the heart of their goals on climate change....


Global equities tumble, U.S. markets closed
Stock markets around the world reeled on Friday with the heaviest falls in...


Employers use federal law to deny benefits
WASHINGTON -- Dying of cancer, Thomas Amschwand did everything he was told to make sure his wife would collect on the life insurance policy he had through his employer. "He was obsessed with dotting...


A mixed showing in world stock markets
European markets fell and Asian markets were mixed Friday as investors digested uneven readings on the U.S. economy and oil prices that remained near records. Japan posted its 12th straight day of...


Corporate earnings on track for fourth straight quarterly drop
The profits of large U.S. companies are poised for their fourth straight year-over-year drop, with the housing market collapse and high energy prices accounting for much of the second quarter's...


Led Zeppelin Uncomfortable Lending Music to Rhythm Games
@roc* The "go play a real guitar" schtick is tired. I play guitar, but I prefer to play Rock Band and Guitar Hero. Why? Because when I have friends over or want to play some "music" with the kids, I...


Making Water From Thin Air
A company that developed technology capable of creating water out of thin air nearly anywhere in the world is now under contract to nourish U.S. soldiers serving in Iraq. The water-harvesting...


Investors should consider their options after Wall Street
After a bloody first six months of the year, some investors who had been holding out for a resurgent second half are now wondering what to hope for.With the Dow Jones industrial average losing 14.5...


Kerry Gerontianos Selected As Microsoft Digital Worldwide Partner Conference USA Spokesperson
Microsoft Eager To Spread IDC Report Findings That Partner-to-Partner Global Activity Accounts For A $6.7 Billion International Association of Microsoft Certified Partners (IAMCP) Eco-System....


2 supervisors at raided meatpacking plant arrested
Two supervisors at an Iowa meatpacking plant that was raided by federal immigration agents in May were arrested and charged with encouraging people to live in the United States...


SocGen fined over trading scandal
France's central bank announced Friday that it has fined Societe Generale $6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses...


Canadian telecom BCE, suitor agree on terms
BCE Inc, Canada's largest telecommunications company, said Friday it has agreed on terms of a $35 billion sale to a group led by the Ontario Teachers' Pension Plan in the biggest leveraged buyout...


Fresh Market adds upscale grocery option
The competition for your grocery-shopping dollar will have a fresh new option on July 16. The Fresh Market, a 2,400-square-foot upscale grocery, will open in Glenwood Square Shopping Center nearly a...


Farmers say salmonella scare has hurt tomato sales
Expect fewer slices of red, ripe tomatoes next to the grill this holiday weekend. With a salmonella scare causing many customers to shun what's normally a summertime favorite, tomato farmers...


9 convicted in Austria fraud case
Nine people, including a prominent executive who fled to France in an attempt to elude justice, were convicted Friday of criminal charges in a major Austrian bank fraud case linked to the 2005...


EU widens Billiton-Rio Tinto probe
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concerns about higher...


Caloric Restriction Comes in a Pill
, mice given resveratrol -- the first of an eagerly-anticipated class of longevity drugs -- enjoyed dramatically improved health, even when they started taking the drug late in life. Resveratrol...


Hyundai union calls for work stoppage next week
The latest labor action follows a two-hour walk off on Wednesday by unionized employees at Hyundai Motor and other South Korean car makers, in a move aimed at having the government scrap a U.S. beef...


Most actively traded companies on Canadian stock markets
The Canadian Press July 4, 2008 - 6:30 p.m. TORONTO - Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (down 133.18...


As gas prices rise, LIE traffic declines
Long Island Expressway has dropped to unprecedented low levels for this time of year, state officials said yesterday, citing the rising cost of fuel. The state Department of Transportation...


Microsoft weighs Xbox 360 price cut
MUMBAI: Microsoft may consider cutting the price of its gaming console Xbox 360 in India after price cuts in Australia and New Zealand. The software giant slashed prices of all console models by...


China worried over foreign funds inflow
BEIJING: China's foreign exchange administrators are worried about the sudden increase in the foreign inflows that cannot be explained in terms of trade surplus, equity investments or foreign...


Oil at $145 as Saudis refuse to boost output
BANKOK: Oil prices remained near record highs above $145 a barrel in Asia after Saudi Arabia's oil minister suggested his country doesn't plan to boost production. Light, sweet crude for...


Lamy invites leaders to strike deal
GENEVA: July is "the moment of truth" for a long-sought global trade pact, the failure of which would erode economic growth, sour diplomatic ties and hurt poor countries, the World Trade ...


G8 leaders face gravest economic woes
SAPPORO: Between surging oil prices, food inflation and a credit crunch that's depressed global growth, leaders from the Group of Eight economic powers face the gravest combination of economic ...


To Preserve, Protect and Defend ...
The Declaration of Independence is signed. It will take 117 years before someone gets around to saying, "Hey, maybe we should preserve this thing." ...


Kakkar is regional head of Unilever
MUMBAI: Hindustan Unilever executive director (sales & customer development) Sanjiv Kakkar has been appointed chairman, Unilever Russia, Ukraine and Belarus (RUB), with effect from the month ...


French bank body fines SocGen $6 million over Kerviel
PARIS (Reuters) - France's Banking Commission on Friday fined Societe Generale 4 million euros ($6.3 million) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro...


Orient-Express Hotels Ltd. Second Quarter 2008 News Release and...
OEH (http://www.orient-express.com) will release its second quarter earnings on Wednesday August 6, 2008 after the market closes and will host a conference call on Thursday August 7, 2008 at 10.00...


Iran optimism steadies oil price
The price of oil fell back on Friday, on hopes Iran would react positively to proposals to resolve a dispute over its nuclear development programme. However, prices stayed near the highs of more...


European stocks down; Asian markets mixed amid high oil prices, uneven US economic data
Louise Watt July 4, 2008 - 11:04 a.m. LONDON (AP) - European markets fell and Asian markets were mixed Friday as investors digested uneven readings on the U.S. economy and oil prices that...


Marks & Spencer cut to sell from buy at Citigroup
) was downgraded to sell from buy at Citigroup after the U.K. retailer's warning on Wednesday. "At this early point in the current U.K. consumer down cycle, with growing input cost pressures...


UBS may post small loss for 2Q
UBS AG , Switzerland's largest bank, said Friday it expects its second-quarter results to be "at or slightly below break-even" due to a tax credit that will offset investment losses and said it won't...


Exxon Mobil to book $1.6 bln gain on Germany sale
) said in a filing late Thursday it'll book third-quarter after-tax earnings of $1.6 billion on the sale of interests in a natural gas transport business in northern Germany. The transaction,...


retro styled, family sized
From the people who brought you the Escape, the Edge and the Freestyle/Taurus X comes the Ford Flex, which either will prove that there's always room for one more sport utility vehicle in a Ford...


Why Microsoft will win Yahoo
recent story on the company. And even what does seem like erratic behavior on the part of Microsoft CEO Steve Ballmer et al points toward that inevitable conclusion.To understand why Microsoft...


Before Microsoft, Gates Solved A Pancake Problem
July 4, 2008 · Before Bill Gates became a household name, he went to Harvard. His sophomore year, he was assigned a complicated mathematics problem, which — no surprise — he...


Wall Street has mixed finish for shortened week
Wall Street capped a shortened trading week with a mixed finish yesterday after a tame reading on employment but another record high for the price of oil. Stocks had their third dismal week in a...


Oil prices fall more than $1 a barrel
Oil prices fell more than $1 a barrel Friday from record levels set a day earlier on hopes that tensions surrounding Iran's nuclear program could ease and cut the chances of American or Israeli...


State crackdown nabs 28 on unemployment-benefits fraud
A stepped-up statewide effort to crack down on unemployment-benefits fraud has ensnared 28 Long Islanders, who are accused of receiving a total of more than $205,000 in payments illegally. ...


BCE buyers finalize funding
TORONTO (Reuters) - The buyers of telecoms company BCE Inc are sticking to the agreed C$34.8-billion ($34.1 billion) purchase price and have finalized the funding for the deal to go ahead, the...


Commerzbank Not Bidding For Citigroup German Operations -Sources
is likely to make its final choice in the next four to five weeks on a buyer for its German retail banking unit, a person familiar with the matter said in late June. The person in June also said...