The Voice of Knowledge

Sources close to General Motors observe that while GM is still struggling to meet President Obama’s June 1 deadline to settle issues with unions and creditors, the company is also getting ready simultaneously to explore the bankruptcy option. A flurry of active negotiations is on however to avoid bankruptcy, with the deadline drawing uncomfortably close.

After G20 announced that International Monetary Fund (IMF) is likely to sell some of its gold reserve –around 400 tonnes, to give a boost to ailing economies, the yellow metal is climbing down in terms of prices, worldwide. Market experts predict a lower price for gold at least in the short term.

Australian government has planned a state-sponsored high speed broadband network –the largest of its kind in the world, costing 43 billion Australian dollars. Prime Minister Kevin Rudd said the eight–year project would create 37, 000 job opportunities and a much needed boost to the economy that is down in the dumps.

Trans Fats are generally found in some types of cooking oils thus increasing level of LDL cholesterol and decreasing the good cholesterol namely HDL. The lawmakers aim to fight obesity and subsequently reduce the cost of insurance associated. The restaurants would thus have to use healthier cooking substances to make healthy Texans.

Jobless benefits are to be increased by 6.5 per cent in the next two years for unemployed New Mexicans. A searchable online database will be created of state contracts valued more than $20,000 and this will be available from Jan 1, 2010. The operations of the new law would be more transparent claims the state government.

Despite the ban on the consumption of alcohol, Morocco has become the largest producers of wine in the Muslim world. This contributes largely to the sales tax in the country. The local people consume 1 liter of wine on an average and the country is a proud owner of 12,000 hectares of vineyards.

Salesforce.com, a leading business software maker launched a slimmed down version of its customer management sevices.70, 000 downloads already been done in seven months allows customers like corporate salespeople to access some of their company accounts and data and update them while on their run. It forecasts to reach 1 million users with this new Mobile Lite service.

IBM pulled out of the bidding race fearing class action suits in the US. Having conducted due diligence on some of Satyam’s major customers was considered as a good fit due to its good brand name and service offerings. Earlier three other bidders’ namely Phaneesh Murthy-promoted iGate, Hindujas group and B K Modi-owned Spice group had pulled out of the race.

Investors are becoming comfortable with Apple Inc’s executive team. The credit goes to the strong leadership and in every position it competes. The shares have gushed in the 10 weeks since Steve Jobs stepped away on a five month medical leave. But there is enough doubt in the market about an Apple without him at the rudder.