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Business News Archive - March 29, 2009

SEATTLE, March 28 /PRNewswire-FirstCall/ -- Alaska Airlines has suspended its remaining flights in and out of Anchorage for Saturday night after Mount Redoubt erupted again about 3:40 p.m. Alaska time and generated ash clouds that pose a significant risk to air travel.

HONG KONG, March 29 /PRNewswire-Asia-FirstCall/ -- Sinopec Shanghai Petrochemical Company Limited ("Shanghai Petrochemical" or the "Company") (HKEx:338; SSE: 600688; NYSE: SHI) announced today the audited operating results of the Company and its subsidiaries (the "Group") prepared under International Financial Reporting Standards ( "IFRS") for the year ended December 31, 2008 (the "Year"). According to IFRS, turnover of the Group for the Year amounted to a record high of RMB60,226.9 million, representing an increase of 8.85% as compared to the previous year.

Auto industry analysts say sales for U.S. car makers General Motors Corp.

Preservationists say they wonder what will become of the historic buildings Bacardi USA will leave this year when the company moves to its new headquarters. The Miami Herald reported Sunday that Bacardi has occupied its current office on Miami's Biscayne Boulevard since its departure from Cuba after the 1959 revolution on the island. The mural-decorated buildings are widely considered some of the most architecturally significant structures of the 1960s in Miami. Needless to say, there is great concern,'' said Ivan Rodriguez, former head of historic preservation for Miami-Dade County and member of an informal group of architects and preservationists exploring ways to safeguard the buildings.

CHICAGO, March 29 /PRNewswire/ -- As ComEd customers turned off the lights during Earth Hour at homes, businesses, and Chicago landmarks, ComEd saw the demand for electricity drop by about 1 percent in the City of Chicago and throughout its northern Illinois service territory, according to figures released by the utility. To calculate the energy reduction achieved during the hour, ComEd compared its customers' electricity usage during the 8:30 to 9:30 p.m.

A Fort Lauderdale official says the Florida beach city is trying to attract wealthier tourists instead of rowdy college students on spring break. You can't cater to MTV and 'Girls Gone Wild' and expect anyone else to want to come here, said Nicki Grossman, president of the Greater Fort Lauderdale Convention & Visitors Bureau.

BEIJING, March 29 /PRNewswire-Asia-FirstCall/ -- China Petroleum & Chemical Corporation ("Sinopec Corp." or "the Company") (HKEX: 386; NYSE: SNP; LSE: SNP; CH: 600028) today announced its annual results for year ended 31 December, 2008. Financial Highlights: -- In accordance with the PRC Accounting Standards for Business Enterprises ("ASBE"), the Company's operating income amounted to RMB 1.452 trillion, representing an increase of 20.52% over 2007.

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General Motors Corp had no comment Sunday on published reports that Richard Wagoner is quitting as chairman and chief executive officer of the US automaker.

PSA Peugeot Citroen Sunday dismissed Christian Streiff as its chief executive, replacing him with a leading European steel industry executive, the company said. Philippe Varin, chief executive of Corus, will succeed Streiff, whose resignation was to take effect immediately, Thierry Peugeot, chairman of the Peugeot board, announced. Given the extraordinary difficulties currently faced by the automotive industry, the supervisory board decided unanimously that a change in the senior leadership position was necessary, he said.

Travelers advised to check status of flights at alaskaair.com or 800-ALASKAAIR SEATTLE, March 29 /PRNewswire-FirstCall/ -- Alaska Airlines resumed flights in and out of Anchorage late Sunday afternoon after Ted Stevens Anchorage International Airport reopened for operations.

Word of the Day
megalophonous
  • Having a loud voice; vociferous; clamorous.
  • Of grand or imposing sound.
The word 'megalophonous' comes from Greek roots meaning 'big' and 'sound'.