Business News Archive - September 26, 2009

Britain is attracting Europeans with financial problems because of its lenient bankruptcy laws, observers say. Financially struggling foreigners hoping to erase their debts are moving temporarily to Britain to file for bankruptcy under laws that allow them to wipe their slates clean after only 18 months, Sky News reported Saturday. The British broadcaster noted that in Germany, it can take between 7 and 9 years to emerge from bankruptcy, while in Ireland debtors can remain undischarged for at least 12 years. The German company Insolvenz Agentur, which is based in Kent, England, is facilitating such bankruptcy tourism, reportedly making arrangements for debtors' medical needs, their housing and even helping them obtain British driving licenses. I came to England because I have debts, credit cards debts, Klaus Schmidt, a divorced man who owes more than $240,000, told Sky News.

The United States and Latin American nations say they have banded together to fight the spread of an insect that carries a disease fatal to citrus trees. The United States, Mexico, Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Nicaragua and Panama Friday launched a coordinated effort to fight the spread of the Asian citrus psyllid, which has ravaged orchards in Florida and now is threatening California's $1.6 billion citrus industry, the Los Angeles Times reported. Representatives of the nations, meeting this week in Monterrey, Mexico, said they would all impose quarantines on the movements of plants and carry out more tests to see how the disease is spreading.

SACRAMENTO, Calif., Sept. 26 /PRNewswire/ -- Today, Hands On Sacramento and Volunteer Sacramento united local businesses from the Sacramento region's Corporate Volunteer Council (CVC) to participate in Hands On Sacramento Day.

HARRISBURG, Pa., Sept. 26 /PRNewswire-USNewswire/ -- The Pennsylvania National Guard will discuss plans to build an Armed Forces Reserve Center in Williamsport during a public meeting and comment session from 5:30 p.m. to 8:30 p.m. on Tuesday, Sept. 29, at the Williamsport City Hall, 245 W.

BRASELTON, Ga., Sept. 26 /PRNewswire/ -- For the third consecutive race weekend, the drivers of the SCCA Pro Racing Volkswagen Jetta TDI Cup had to navigate a rain-soaked track on race day.

WASHINGTON, Sept. 26 /PRNewswire-USNewswire/ -- CARE is thrilled that the new food security strategy outlined by Secretary of State Hillary Rodham Clinton is closely aligned with CARE's own.

Executives in the video-game industry say the economy and Apple's move into their turf are among their big worries heading into the holiday shopping season. Industry leaders at this week's Tokyo Game Show said Apple's ability to host games on its iPod Touch and iPhone could cut into their sales, which are already expected to be soft due to the lingering effects of the recession. In the past year, the gaming lifestyle has been transformed, said Haruhiro Tsujimoto, CEO of game-maker Capcom.

Word of the Day
  • Stoppage; cessation (of labor).
  • A standing still or idling (of mills, factories, etc.).
The word chomage comes into English from French.]