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Business News Archive - July 26, 2009

DUBAI, United Arab Emirates, July 26 /PRNewswire/ -- It is estimated that approximately one in three UAE residents will spend their summer holidays in the country in 2009 compared with one in 10 in the previous three years as cheaper deals keep residents at home.

ABU DHABI, UAE, July 26 /PRNewswire/ -- Modified car and motorsports enthusiasts from across the UAE and the Gulf are to be captivated by Barbican Turbo, the region's premier tuning, custom car and motorsports festival organised by United Business Media. (Photo: http://www.newscom.com/cgi-bin/prnh/20090726/354523 ) Following on from last years success when over 19,000 enthusiasts from across the Middle East descended on the Abu Dhabi National Exhibition Centre (ADNEC), Barbican Turbo 2009, to be held from 8th to 10th October, promises visitors an even more exciting and interactive experience, packed with features and stunning vehicles from international and regional tuners. Features of the show include the 'Top 100', the 2nd UAE National Sound Off, the 1st National Dyno Shoot Out' competition and for the very first time in the Middle East visitors will be treated to extreme driving displays courtesy of world-class drivers from the European Drifting Championships. M

FOND DU LAC, Wis., July 26 /PRNewswire/ -- The International Association of Machinists and Aerospace Workers (IAM) will request Wisconsin Governor James Doyle take an active part in any negotiations with Mercury Marine that could result in the closing the Fond du Lac facility.

HOUSTON, July 26 /PRNewswire-FirstCall/ -- Plains Exploration & Production Company (NYSE: PXP) ("PXP") announces an update on its Tranquillon Ridge (T-Ridge) project. On July 24, 2009, despite support of California Governor Schwarzenegger and bipartisan approval by the California State Senate, the California State Assembly failed to approve legislation authorizing a path forward for PXP's T-Ridge project.

FORT LAUDERDALE, Fla., July 26 /PRNewswire-FirstCall/ -- Magnum D'Or Resources, Inc. (OTC Bulletin Board: MDOR), a next generation rubber recycling Solutions Company, debuts its new corporate image.

A Tampa, Fla., gold and coin dealer is accused of financing a palatial home with collateral from a business loan, a spokesman for Boston's Sovereign Bank said. Mark Yaffe, owner of the National Gold Exchange Inc., built a $25 million, 28,893-square-foot mock 17th century English manor house in 2004.

JOLIET, Ill., July 26 /PRNewswire/ -- The Autobahn Country Club's 21 turns provided the perfect setting for some of the closest racing action that the SCCA Pro Racing Volkswagen Jetta TDI Cup has seen all season long.

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Federal Reserve Chairman Ben Bernanke told an audience in Missouri Sunday unemployment will exceed 10 percent before receding in the second half of 2009. In an appearance at a town hall in Kansas City, Mo., Bernanke said the economy is showing signs of improvement but he said recovery will not be rapid, CNN Money reported. During the event -- Bernanke on the Record -- the Fed chairman took questions from audience members and from moderator Jim Lehrer, the host of NewsHouron PBS. Bernanke said the recession, which he said is the worst since the Great Depression, could result in an economy that is stronger than it was before the downturn began. The silver lining in this whole thing is that people are starting to save more, since they saw what happened with 401(k) investments, he said. Bernanke said the U.S.

Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'