(PTI): Starbucks has reported a 77% plunge in net income during its fiscal second quarter after shutting several US outlets as part of a cost-cutting plan. The coffee giant has so far closed 507 stores as part of a plan announced earlier this year to shut down about 800 US stores. The company said it [...]
Starbucks revenue down by 77% after shutting down several outlets
Published in April 30th, 2009
Posted by The Business Time in Business
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US Congress seeking for tough conditions on aid to Pakistan
Published in April 30th, 2009
Posted by The Business Time in World
(PTI): The US Congress is seeking to impose tough conditions on millions of dollars of promised aid to Pakistan, despite the Pentagon pushing for immediate cash flow. On Wednesday, Chairman of the House Foreign Affairs Committee Howard L. Berman introduced a foreign assistance reform bill that sets on improving the US development strategies
Hezbollah warns of another Israeli attack during Washington and Tel Aviv’s joint military exercise
Published in April 29th, 2009
Posted by The Business Time in World
(PTI): A senior Hezbollah official has warned of a possible “Israeli attack” during Washington and Tel Aviv’s joint military exercise in the region. Speaking during the national dialogue talks aimed at mending the political divisions between rival Lebanese factions, Hezbollah parliamentary bloc head Mohammed Raad said Tuesday that Lebanon must go on high alert during [...]
North Korea threatens to launch new ballistic missile unless UN apologizes
Published in April 29th, 2009
(PTI): North Korea has threatened to conduct nuclear tests and to launch ballistic missiles unless the UN apologizes for condemning its recent rocket launch. “Unless the UN Security Council offers an apology immediately, we will be forced to take additional self-defense measures to protect the highest interests of our republic,” a Foreign Ministry spokesman said [...]
Pakistan Govt. to allocate more funds for improving law and order in Balochistan: PM Gilani
Published in April 29th, 2009
Posted by The Business Time in National
(APP): Prime Minister Syed Yusuf Raza Gilani has said that the federal government will allocate more funds for revamping law and order system in Balochistan by strengthening its law enforcement agencies and building their capacity. The salary package for the provincial police will be enhanced and will be brought at par with the Punjab police, [...]
German economy to shrink by 6%
Published in April 29th, 2009
Posted by The Business Time in Business
(PTI): Germany says its economy will contract by 6 percent this year due to the global economic downturn, but will return to growth in 2010. The latest estimate is a sharp downward revision to the government’s earlier forecast of a 2.25 percent decline. “The economic decline that we are expecting this year is predominantly the [...]
