| Business News |
Ford posts $8.7 billion loss on truck slump
(Reuters)
 Reuters - Ford Motor Co posted a $8.7
billion quarterly loss on Thursday as it wrote down the value
of truck and SUV operations and cautioned that it did not
expect to see a U.S. economic turnaround until 2010.
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Dow Chemical second-quarter profit hurt by costs
(Reuters)
 Reuters - Dow Chemical Co posted
second-quarter earnings that fell short of market expectations
as its price increases did not completely offset a sharp spike
in energy and raw material costs.
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Nokia patent deal with Qualcomm boosts both stocks
(Reuters)
 Reuters - Nokia (NOK1V.HE), the world's top
cellphone maker, has ended three years of legal battles with
wireless chip developer Qualcomm and signed a patent
agreement that boosted both companies' shares.
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Wall Street extends drops after housing data
(Reuters)
 Reuters - Stock extended losses on Thursday
following a report that showed a steeper-than-expected drop in
existing-home sales in June, heightening concern about the
impact of the housing slump on economic growth.
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FCC has pact to approve Sirius-XM deal: source
(Reuters)
 Reuters - A majority of members of the Federal
Communications Commission have reached an agreement to
conditionally approve Sirius Satellite Radio Inc's
purchase of XM Satellite Radio Holdings Inc , a source
familiar with the agency review said on Thursday.
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New layoff filings jump as companies retrench
(AP)
 AP - The number of newly laid off people filing claims for unemployment benefits bolted past 400,000 last week as companies trimmed their work forces to cope with a slowing economy and fallout from a collapsed housing market.
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| Seven bombs kill 60 people in India's Jaipur - 14, May 2008 |
JAIPUR, India (Reuters) - Seven bombs ripped through the crowded streets of India's western city of Jaipur on Tuesday evening, killing around 60 people in markets and outside Hindu temples.
The bombs, many strapped to bicycles, exploded within minutes of each other in Jaipur's pink walled city, a magnet for foreign tourists.
It was the deadliest bomb attack in India in nearly two years. Around 150 people were wounded and local television stations broadcast appeals for blood donations.
Police officers said no group had admitted responsibility for the blasts. Television channels quoted government and intelligence officials as blaming Pakistani or Bangladeshi Islamist militant groups.
"According to the information I have received 60 people have died and 150 have been injured," Rajasthan's Chief Minister Vasundhara Raje was quoted by the Press Trust of India as saying.
The state's home minister, Gulab Chand Kataria, said there were at least 55 deaths.
"At around 7.30 there was a big noise and suddenly I found people in a pool of blood," said Govind Sharma, a priest at a Hindu temple, through tears. "I've lost my father in the bomb blast."
Officials said the apparent motive for the bombs was to undermine a peace process between India and Pakistan or foment communal violence in India.
Indian Foreign Minister Pranab Mukherjee is due to visit Islamabad in just over a week to review the four-year-old peace process, his first since a new, civilian government took over in Pakistan.
(c) 2008 Reuters
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