AFP – FRANKFURT (AFP) – German state-owned bank KfW is opposed to a massive loan request from ailing luxury car maker Porsche and its chances of obtaining any public aid are slim, according to the economy minister.
AFP – PARIS (AFP) – French tyre giant Michelin, which plans to cut almost 1,100 jobs in France, aims to open a factory in India in three years, the company’s chief executive Michel Rollier said Saturday.
The Canadian Press –
WASHINGTON – President Barack Obama is warning critics of his vast financial overhaul plan that he has no patience for debate from hard-line defenders of a system that has exploited bewildered consumers. Pushing for a law this year, Obama said: “While I’m not spoiling for a fight, I’m ready for one.”
AFP – MONTREAL (AFP) – Canadian telecommunications firm Nortel, in bankruptcy protection since January, will sell most of its wireless business to Nokia Siemens Networks for 650 million dollars.
RICHMOND, Virginia (Reuters) – Texas billionaire Allen Stanford, three associates and a top Caribbean regulator were indicted on fraud, conspiracy and obstruction charges in an elaborate billion pyramid scheme to bilk investors, U.S. Justice branch officials said on Friday.
LOS ANGELES (Reuters) – California Governor Arnold Schwarzenegger’s jet made a “quick, steep, but safe” emergency landing in Los Angeles on Friday after the pilot reported smoke coming from the cockpit’s instrument panel, his office said.
WASHINGTON (Reuters) – Steve Jobs, the chief executive of Apple Inc, received a liver transplant about two months ago but is expected to return to work later this month, the Wall Street Journal reported on Saturday.
SAN FRANCISCO (Reuters) – California, which is struggling to close a .3 billion budget gap, faces the prospect of a “multi-notch” downgrade in its credit rating if the state’s legislature fails to act quickly to produce a budget, Moody’s Investors Service warned on Friday.
WASHINGTON (Reuters) – Signs unemployment pains may be easing in individual U.S. states in April disappeared by May, when jobless rates jumped in 48 states and the District of Columbia, according to data released on Friday.