Business News Archive - July 05, 2009

Russian President Dmitry Medvedev says there's no pardon in the works for imprisoned oil magnate Mikhail Khodorkovsky, who was once the country's richest man. At this point, there is nothing to discuss, Medvedev said Saturday on his official Web site. As Russia's most famous inmate, Khodorkovsky remains a subject of interest, with supporters saying the Kremlin destroyed him to gain control of the Yukos oil company, which Khodorkovsky built from privatization deals in the 1990s, CNN reported Sunday.

The global economic downturn has not cost China its advantages in foreign trade, a senior Chinese commerce official says. Speaking Saturday at the Global Think Tank Summit in Beijing, Yi Xiaozhun, China's vice commerce minister, said the country is positioned to post trade levels above global averages once the recession ends, the state-run Chinese news agency Xinhua reported. The news agency said Yi credited Beijing's moves to stimulate domestic demand as key in retaining China's foreign trade advantages, which he said won't rise sharply as they have in recent years.

The proper recycling of analog televisions and other electronics in the United States can help prevent environmental hazards, The Washington Post says. The Post said Sunday if analog TV owners cannot find a person to donate or sell the outdated electronics item to, they can properly dispose of the goods through programs in most U.S.

AUBURN HILLS, Mich., July 5 /PRNewswire/ -- Chrysler Group LLC announced the appointment of additional members to its Board of Directors, completing the nine-member Board that will provide oversight to the Chrysler Group.

A depressed real estate market has turned Los Angeles County into a haven for renters seeking deals and discounts, industry observers say. The struggling economy has produced rising vacancy rates, falling rents and landlords willing to negotiate on lease deals, the Los Angeles Times reported Sunday. I've never seen it this saturated with rentals, property manager Vickie Callahan, who owns three- and four-unit buildings in the Redondo Beach area, told the newspaper.

Thrift is making a comeback in the United States after Americans spent most of the past 15 years spending freely on borrowed money, statistics indicate. Numbers released by the Federal Reserve and the U.S.

NANJING, Jiangsu, China, July 5 /PRNewswire-Asia/ -- ET Solar Group Corp. ("ET Solar"), a Nanjing-based solar farm EPC provider and integrated manufacturer of photovoltaic ("PV") products including ingots, wafers, modules, and state-of-the-art dual-axis tracking systems, announced immediate provision of product liability insurance coverage for its PV module customers worldwide. Arranged by Aon, world's top insurance brokerage firm headquartered in New York, the cover is provided by Huatai Insurance Company in which the global insurance giant ACE is the single largest shareholder.

Word of the Day
  • Emitting flashes of light; glittering.
The word 'coruscant' comes from a Latin word meaning 'to flash' or 'to sparkle'.