Business News Archive - October 09, 2008

JOHOR BARU: The state government said it was not informed by budget airline Air Asia that it was terminating its direct flights from Senai to Macau as of last Sunday.

By P. Chandra Sagaran IPOH: The state government is negotiating with low-cost carriers AirAsia and Firefly to operate international flights from the proposed new airport in Batang Padang district.

I t's quality that's important, according to Devon beef farmer Jeffrey Dunn. "A good animal that is well looked after will reach maturity more quickly and yield better returns in the long run. It's crucial not to cut corners," he insists.

F armers across the country have faced their own crisis this year with the wettest harvest for more than 20 years. The optimism of the spring has been replaced by despair - and although we have experienced an Indian summer, it came along too late for many.

Alcoa Inc. reported Tuesday a 52-percent drop in third-quarter profits and said it will conserve cash by suspending its stock- buyback program and all non-critical capital projects.

By AJ Panian Ligonier Township supervisors heard mixed views Tuesday from about a dozen homeowners concerning two proposed abandoned mine reclamation projects on two properties. Ligonier-based Coal Loaders Inc.

By The Associated Press WASHINGTON (AP) - Americans' retirement plans have lost as much as $2 trillion in the past 15 months - about 20 percent of their value - Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs.The upheaval that has engulfed financial firms and sent the stock market plummeting also is devastating people's savings, forcing families to hold off on major purchases and even delay retirement, Peter Orszag, the head of the Congressional Budget Office, told the House Education and Labor Committee.As Congress investigates the causes and effects of the meltdown, the panel pressed economists and other analysts on how the housing, credit and other financial troubles have battered pensions and other retirement funds, which are among the most common forms of savings in the United States."Unlike Wall Street executives, America's families don't have a golden parachute to fall bac

By Angela Riley No law required St. Louis to install automatic external defibrillators throughout Lambert-St. Louis International Airport.

By Helen Collis Thieves have got away with thousands of pounds' worth of lead roofing stolen from houses, building sites and even churches, it has been revealed.

World in brief A satellite image from the US National Oceanic and Atmospheric Administration shows Hurricane Norbert, with sustained winds of up to 105mph (165kph), approaching Mexico's Baja peninsula yesterday. It is expected to reach land by the weekend.

Word of the Day
  • The abrogation of a law by a higher authority; annulment.
  • In music, during the eighteenth century, a song or an instrumental piece similar to the serenade, intended for performance in the open air.
The word 'cassation' comes from the French 'cassation', from Latin 'casso' ("destroy, annul").