TNM

Big releases delayed by Paramount again

Paramount has delayed the release of yet another time. The first movie to be delayed for release was Harry Potter, thereafter it was The Road; this time it is The Soloist and Defiance.

No specified reasons have been given for the delay announced at the last moment. The release of Soloist has been delayed by about four months - from 21 November to 13 March. The release of soloist has been deferred to 31 Dec from 12 Dec.

Lil Wayne declared lyricist of the year

Lil Wayne has been declared lyricist of the year by BET Hip- Hop Awards. Russell Simmons was declared as the Hip-hop Icon.

The rapper who belongs to New Orleans was nominated for 12 awards. He has also been honored with the title of MVP of the Year and the Alltel Wireless People's Champ at the ceremony hosted by T-Pain.

Lil told the crowd that he's expecting a bundle of joy any day now. "I got a son dropping any day. Pray for me," he said.

$8 Million Cocaine Ring Busted

State officials say they've made an $8 million drug bust that involved a 17 year old girl and parents of three young children operating in Lancaster and York counties.

Attorney General Tom Corbett, after a 10-month investigation dubbed "Operation Dough Maker" announced multiple arrests including the couple and the teenager. The "dough" officials said, refers to the large amount of money changing hands for the drugs.

Corbett at a news conference today at the Manheim Township Police station said, "No community, large or small, is immune from drug abuse and drug trafficking.  Drug dealers will move anywhere there is a demand for their product."

Evidence to support heroin assisted treatment for addictions

According to University of BC epidemiologist, there is enough evidence to support heroin assisted addictions clinic in Vancouver

A study was conducted by NAOMI ( North American Opiate Medication Initiative, for three years on 251 addicts in Vancouver and Montreal. Most of these addicts were chronic and did not respond to other treatments.

"These people are out in the alleys, injecting heroin of unknown quality and quantity," said Dr. Martin Schechter, the study's principal investigator. "They're committing crimes, they're involved in sex work to pay for that, and they're certainly, in that situation, not going to get better."

More E. coli cases in Ontario

The number of E. coli cases in Ontario has increased to 159. According to a health official, the number includes both confirmed and suspected cases of the infection.

"The latest is that we have 159 cases as of this morning. Of those, 26 are lab confirmed," said Dr. Catherine Whiting, medical officer of health at North Bay Parry Sound District Health Unit.

The number of confirmed and suspected cases of E. coli poisoning linked to the Harvey's restaurant on Algonquin Avenue in North Bay, about 300 kilometres north of Toronto.  The last Thursday the count was 93 but it plummeted to  131 the next day.

Balaji Telefilms in legal muddle over KSBKBT

Balaji Telefilms has received a notice for termination of sourcing content and telecasting of one of its highly popular weekly serials – ‘Kyunki Saas Bhi Kabhi Bahu Thi’ (KSBKBT) – being aired on Star Plus. The notice comes from SGL Entertainment, a part of the Star Group.

Along with KSBKBT, Balaji is producing five other currently running programs for the Star Group. In addition, the company produces two programs for 9X, one for Zee TV, and is also producing two programs for NDTV Imagine, which will be launched in this quarter.

SGL opines that the termination of the highly rated serial is in breach of contractual obligations owed by the Star Group to the company. It added that it will pursue all legal remedies available to it regarding the issue.

Sanjay Aggarwal is SpiceJet’s new CEO

SpiceJet, the low-cost carrier, which was practically without a Chief Executive Officer (CEO) for more than three months, on Monday announced the appointment of Sanjay Aggarwal as its CEO with immediate effect.

A company statement said that Aggarwal, who had earlier worked with the US Airways, was SpiceJet’s Chief Operating Officer and Chief Strategy Officer, before the recent announcement came along.

The newly-announced CEO, Aggarwal, takes over the position from Siddhanth Sharma. On July 12, Sharma resigned from SpiceJet, and picked up a job with rival carrier, Indigo Airlines, at a time when SpiceJet was undergoing severe financial crisis, and was in dire need of cash infusion of Rs 3.45 billion from US investor Wilbur Ross.

Key player of 1980s deregulation era, George Keller, dies

The 84-year-old former chairman and chief executive of Chevron, George Keller, died Friday in Palo Alto.

A spokeswoman for the New York Times, Diane McNulty, has confirmed the news of Keller’s death.

Keller’s daughter-in-law, Emma Gilbey Keller - wife of his son Bill who is executive editor of the Times - said he died from complications of orthopedic surgery.

Keller was one of the key players in the 1980s era of deregulation, globalization, and the emergence of junk bond financing, when it seemed like no company was immune from hostile takeovers.

Bush plans summit of world leaders about financial crisis

In a renewed effort to secure the basis of “democratic capitalism”, President Bush announced on Saturday his plans to host emergency summits of leaders from the world’s top economies to chart out a rejoinder to the financial crisis.

Though no date has been finalized for the gathering, a White House statement said it would be held in the US “soon after” the November 4 election.

At Camp David, Maryland, the President, with French President Nicolas Sarkozy and European Union President Jose Manuel Barroso in attendance, said that the comprehensive objectives of the summits would aim at revamping the regulatory framework for global finance.

Newspaper endorsements: Detroit Free Press endorses Obama

In the most recent of the newspaper endorsements of the presidential candidates, the Detroit Free press endorsed Democratic Barack Obama on Sunday, calling the Illinois senator, the stronger candidate.

Admitting that the country clearly needs some change, the Free Press - that endorsed McCain for the Republican presidential nomination in 2000 and this year - said that Obama is “not only proposing better ones but is also better suited to the job of getting them done.”

The newspaper also noted: “The McCain running against Obama in this general election has not been the same candidate; he has been nastier, less consistent and, since his acceptance speech at the GOP National Convention, frankly uninspiring.”

Levin, Hoogendyk opine differently about Wall Street bailout

During an hour-long debate at WGVU-TV that aired live Sunday, on Public Broadcast Stations, Democratic US Senator Carl Levin and his Republican challenger, Jack Hoogendyk, reflected their sharp differences on most matters – the $700 billion bailout of Wall Street, the Iraq war, taxes, global warming, federal earmarks and health insurance.

Democrat Levin, 74, is heavily favored to win another six-year term in the Senate; while Hoogendyk, 53, is a member of the Michigan House, although term limits will force him out at the end of the year.

The duo is scheduled to meet again Monday for a final debate before the Detroit Economic Club.

Creativity Software teams up with Universal Software

UK-based Creativity Software has informed that it has signed a partnership deal with Universal Software Corporation to supply the market in India with its location based solutions.

Through this partnership, Creativity Software will provide its location technology solutions while Universal Software will use its presence in the market to deliver tailored solutions to mobile operators and large enterprises in the country.

Creativity Software's location based solutions include Family and Friend Finder, Vehicle Tracking, Workforce Management and Travel and Social Networking Mobile Applications. Its customer list includes global brands such as Motorola, BP, America Movil, Samsung, Pearson, Walt Disney etc.

Bharti Airtel offers another Six-Year Contract to IBM’s unit

Bharti Airtel gives another Six-Year Contract to IBM’s unitBharti Airtel, India’s biggest mobile phone company by customers,, has announced a strategic outsourcing agreement with IBM to further enhance its customer service experience for its top end Platinum customers through process and technology innovation.

Under the six-year contract, IBM's managed business services unit IBM Daksh will provide voice and back-office services including customer service, collections, and customer retention from its centers.

HP launches ‘Accidental Damage Protection Service’ across India

India’s leading IT brand Hewlett-Packard, commonly referred to as HP, has introduced its Accidental Damage Protection service under the HP Total Care programme in India.

The company stated in a release that newly introduced ‘HP’s Accidental Damage Protection’ is a service that ensures hardware replacement in the event of an accident.

Further, the service also helps avoid the unprecedented cost that one incurs on repairs or replacements caused by accidents that may occur during normal operation of mobile computing products.

ASUS launches ‘Eee Box’ in Indian Market with price tag of Rs 16, 490

ASUS, the Chinese brand associated with mini notebooks in India, in association with Intel has launched world’s greenest, quietest and the most cost effective desktop PC in Indian market.

The Eee Box which measures merely 1L in size consumes 90% less electricity than normal desktop PCs and is one of the quietest desktop PC with only 26 decibels sound emission.

Further, the latest gizmo features a boot technology called Express Gate that enables users to easily access the Internet, manage pictures and communicate over IM/Skype.

This revolutionary product, priced at Rs 16, 490 (excluding taxes) is targeted at the Small and Medium Enterprise (SMEs) and the Home Users segments in India.

Australian Stock Markets open positive as US Stocks ended with huge gains

Sydney - Supported by Wall Street, the Australian stocks continued their climb in early trading session on Tuesday.

Dow Jones Industrial Average closed 4.67% higher at 9265. US Fed Chief said in a statement that the US Economy will need stimulus and we may see recession for coming quarters. However, for first time in five month, US Financial Indicators were positive.

Nasdaq Composite Index closed 3.43 per cent higher at 1770. European Markets closed positive as well.

The ASX 200 added 58 points, or 1.3 per cent, to 4,213. The positive sentiment came after Monday's 4.3-per-cent increase on the bellwether index. (With Inputs from Agencies)

L&T finally decides to retain its Mysore-based Medical Equip Biz

India's largest engineering and construction conglomerate, Larsen & Toubro (L&T) has decided to continue with the operations of its Mysore-based Medical Equipment & Systems (MED) business unit.

L&T’s MED has been providing a broad range of medical equipment which includes advanced ultrasound scanners and patient monitoring systems with a distribution network, which is spread throughout the country.

The company stated in an official release that, “In view of the overwhelming demand from our customers the L&T management has decided to retain the medical equipment business.”  

The decision takes into account the interest of all stockholders, including customers and distributors, the release added.

Adhunik Power to Setup 1000 MW power plant in Bihar

Adhunik Power and Natural Resources Ltd (APNRL), a part of the Adhunik Metaliks group of companies, has signed a MoU with Bihar State Electricity Board (BSEB) for setting up a 1000 MW power plant in the state.

As per official sources, APNRL is setting up a 1000 MW thermal power plant based on coal as primary fuel, which is expected to be commissioned by June 2011.

The company plans to fulfill coal requirement for the power project through Ganeshpur, Jharkhand captive coal block of 65 MT, which has been allotted to the company.  

In the near future, the group plans to expand with similar projects in other states as well.

Shree Renuka Sugars acquires Gokak Sugars for Rs 69.3 crore; stock dips 8%

In a bid to access more refining capacity at a cheaper rates, Shree Renuka Sugars Ltd, India's biggest sugar refiner, has bought 87% stake in Gokak Sugars for Rs 69.3 crore, including debt of Rs 65 crore.

Karnataka-based Gokak Sugars has a capacity to crush 2,500 tonnes cane per day and has a 14 megawatt co-generation power plant. The company’s capacity is assumed to be equivalent to 7% of Shree Renuka's total crushing capacity.

According to official sources, the latest acquired mill is fully operational, and will add more income to Shree Renuka's business.

As per an estimate, the acquisition is expected to add Rs 12 crore in revenue annually.

Panoramic Universal acquires stake in Sri Vatsa Hotels, Hi-Flyers Travel Services

Panoramic Universal, a Mumbai-based company having interests in hospitality and information technology, has informed that it has acquired 51% stake in Sri Vatsa Hotels for an undisclosed amount.

The company aims to construct a four star hotel with nearly 90 rooms in the said commercial complex through SVPHL or its subsidiary or by itself.

In a separate release, Panoramic Universal has also bought remaining 21.93 % shares of Hi-Flyers Travel Services, a travel agency catering to premium corporate and HNI clients like Sharekhan, Akruti Foundation, SSKI, Jain Irrigation, Supreme Industries, Borroughs India and several other Companies.

With the acquisition, Hi-Flyers Travel Services has become a wholly owned subsidiary of the company.




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