Business News Archive - July 04, 2009

AUCKLAND, New Zealand, July 4 /PRNewswire-FirstCall/ -- World Energy Research and Blue Energy Canada have signed a joint agreement in which World Energy Research will finance the development of Blue Energy Canada's first 200 MW commercial tidal power project at a cost of roughly half a billion dollars.

British Airways says it is looking to cut 3,700 jobs in addition to 2,500 positions already trimmed and will reduce capital spending. The airline announced Friday it would wait up to two years to place orders for new Airbus A380 superjumbo jets, which had been envisioned as a new flagship for British Airways' long-haul fleet, the Financial Times reported. The new job cuts are to be carried out by March 2010 and British Airways' capital spending this year will be slashed from $1.2 billion to $948 million, the newspaper said.

HONG KONG, July 4 /PRNewswire-Asia/ -- The bankruptcy of Chrysler and GM has shocked the entire auto industry chain in America. The falling of giants has set off a chain of bankruptcies of related enterprises on the up and down-stream.

Turkey has OK'd a transit agreement for the Nabucco pipeline intended to reduce European dependence on Russian gas, the European Union said. An intergovernmental pact to be signed in Ankara July 13 will expedite construction of the pipeline and bring Caspian and Middle East gas to Europe as early as 2014, E.U.

GREENFIELD, Mass., July 4 /PRNewswire-USNewswire/ -- The Organic Trade Association (OTA) and its members are organic advocates.

Sonja Kohn claims she was a victim of convicted money manager Bernard Madoff, but British authorities are investigating payments to her companies. Kohn was a majority owner of the former Bank Medici and was also its chairman.

U.S. charter air carrier JetAmerica says it is delaying the start of its regularly scheduled flights due to a mix-up with federal aviation authorities.

Word of the Day
  • To befool; deceive; balk; jilt.
  • An illusion; a trick; a cheat.
The word 'begunk' may come from a nasalised variant of Scots begeck ("to deceive, disappoint"), equivalent to be- +‎ geck.