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Lloyds Group loan impairments rise sharply

May 7, 2009 9:09 am | by ROBERT BARR - Associated Press Writer - Associated Press | News | Comments

LONDON (AP) — Shares in Lloyds Banking Group PLC tumbled Thursday after it reported that impairments on loans rose significantly in the first quarter, when the economy fell deeper into recession.Investors were not reassured by Lloyds' insistence that the potential losses had already been accounted...

Severstal announces plans to idle WVa, Ohio plants

May 7, 2009 8:53 am | by TIM HUBER - AP Business Writer - Associated Press | News | Comments

CHARLESTON, W.Va. (AP) — Russian-owned steelmaker Severstal International said Thursday it is idling mills West Virginia and Ohio because of the continuing slump in the steel industry.About 3,100 workers at Severstal Wheeling Inc. and Severstal Warren Inc. are affected by the decision, the company...

Correction: Meltdown 101 Q & A on tax havens

May 7, 2009 8:43 am | by The Associated Press | News | Comments

WASHINGTON (AP) — In a May 4 story about tax havens, The Associated Press misattributed the fact that Citigroup has 4,000 subsidiaries. The information came from Citigroup, not from the Government Accountability Office.

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Older workers embrace career change, less stress

May 7, 2009 8:38 am | by DAVE CARPENTER - AP Personal Finance Writer - Associated Press | News | Comments

CHICAGO (AP) — Less pay, fewer benefits, lower prestige — and greater job satisfaction.Older workers and retirees moving into different lines of work can take heart from a new study that finds they are likely to enjoy their new jobs more than their old ones.In an era when pink slips are increasing...

Dissolvable Spacers

May 7, 2009 8:37 am | Product Releases | Comments

Multi-Seals introduces Wash-Away dissolvable spacers designed to provide consistent spacing between printed circuit boards and PCB components

Union says CAW, GM Canada being pushed to talk

May 7, 2009 8:18 am | by CHARMAINE NORONHA - Associated Press Writer - Associated Press | News | Comments

TORONTO (AP) — The head of the Canadian Auto Workers said Thursday that the federal and Ontario governments are pressing the union to come up with a new cost-cutting labor agreement with General Motors Canada or risk losing government assistance and liquidation.Ken Lewenza said the governments have...

Accurate Solutions For Piston Detection

May 7, 2009 8:14 am | Sick Stegmann, Inc. | Product Releases | Comments

SICK launches its MPS (Magnetic Positioning Sensor) and MZT8 Magnetic Cylinder Sensors.

Boston Globe union meets over concessions

May 7, 2009 8:02 am | by DENISE LAVOIE - Associated Press Writer - Associated Press | News | Comments

BOSTON (AP) — Members of The Boston Globe's largest union met Thursday to debate a proposal for deep wage and benefit cuts that the newspaper's parent company, The New York Times Co., said were necessary to keep the 137-year-old daily from closing."There seem to be a lot of upset members of the...

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Motor Pulley Torque Sensor

May 7, 2009 7:47 am | Sensor Developments, Inc. | Product Releases | Comments

Sensor Developments announces a new development in its rotary torque sensor line with a new motor pulley torque sensor, model 01287.

Boeing jetliner orders tumble in April

May 7, 2009 7:42 am | by DANIEL LOVERING - AP Manufacturing Writer - Associated Press | News | Comments

PITTSBURGH (AP) — Boeing Co. on Thursday reported a sharp drop in orders for its commercial jetliners in April, as the troubled global economy continued to hurt demand from airlines and cargo services.The Chicago-based aerospace company received orders for 17 jetliners last month, down from 58...

Home loan program for seniors needs $798M rescue

May 7, 2009 7:42 am | by ALAN ZIBEL - AP Real Estate Writer - Associated Press | News | Comments

WASHINGTON (AP) — Falling home prices have forced the government to ask Congress for a taxpayer subsidy to prop up a program that lets senior citizens take out reverse mortgages.The White House says in budget details that the Federal Housing Administration needs a $798 million subsidy next year,...

China promises new European buying sprees

May 7, 2009 7:42 am | by AOIFE WHITE - AP Business Writer - Associated Press | News | Comments

BRUSSELS (AP) — China promised Thursday to send its companies on new multibillion dollar spending sprees in Europe as it called on the bloc, its largest export market, to resist new trade barriers.Chinese Vice Premier Wang Qishan told EU officials that the government will send several business...

Obama budget rescinds oil, gas industry tax breaks

May 7, 2009 7:37 am | by H. JOSEF HEBERT - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The oil and gas industry is taking a hard hit in President Barack Obama's proposed budget.According to details released Thursday about the 2010 budget, the plan would rescind tax breaks at a cost to the industry of $26 billion over the next 10 years.The administration says...

Ex-Democratic fundraiser pleads guilty in NYC

May 7, 2009 7:21 am | by LARRY NEUMEISTER - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — Former top Democratic fundraiser Norman Hsu pleaded guilty in federal court Thursday to charges he cheated investors out of at least $20 million in a massive Ponzi scheme.The 58-year-old Hsu (SHOO) pleaded guilty to 10 counts of wire and mail fraud before U.S. District Judge Victor...

Bank of America surges before stress test results

May 7, 2009 7:11 am | by STEPHEN BERNARD - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Shares of Bank of America Corp. continued their rapid climb Thursday, hours ahead of the expected announcement of bank stress test results and following a pair of analyst upgrades.Bank of America shares jumped $1.57, or 12.4 percent, to $14.26 in morning trading, after gaining 17...

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