Tesla opens doors to electric auto factory

esla CEO Elon Musk and Senator Dianne Feinstein hold a press conference for the opening of Tesla's new manufacturing plant, the former New United Motor Manufacturing, Inc. (NUMMI), on October 27, 2010. Up until April, the plant had been producing Toyota Corollas and Tacomas, and had been opened as a joint venture between GM and Toyota in 1984.

During the conference, Senator Feinstein talked of the jobs lost by the plant's closing, and how Tesla would begin to restore those jobs. She also spoke of the viability of high-tech manufacturing in California.

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LimeWire file-sharing service has been shuted down in US

It ends four years of wrangling between the privately-owned Lime Group and the Recording Industry Association of America (RIAA).

The injunction compels Lime Group to disable its searching, downloading, uploading and file trading features.

The firm plans to launch new services that adhere to copyright laws soon.

Visitors to the LimeWire website are confronted with a legal notice that reads: "This is an offical notice that LimeWire is under a court ordered injunction to stop distributing and supporting its file-sharing software."

It adds that "downloading or sharing copyrighted content without authorisation is illegal".

The RIAA told the AP news agency that it was pleased by the judge's decision.

"It will start to unwind the massive piracy machine that LimeWire... used to enrich themselves immensely," said RIAA spokesman Jonathan Lamy.

LimeGroup appeared to acknowledge defeat.

"We are out of the file-sharing business, but you can make it known that other aspects of our business remain ongoing," Lime Group spokeswoman Tiffany Guarnaccia told AP.

The firm is working on developing new software that will adhere to copyright laws.

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The economic of the US growth rate quickens

The expansion came despite continuing high unemployment and weakness in the housing market.

The 2% figure is an improvement on the upwardly revised 1.7% increase between April and June, but less than the 3.7% growth recorded from January to March.

The Federal Reserve suggested last week it would do more to boost the economy.

Continue reading the main story

To do this, the Fed - the US central bank - is expected to announce next month that it will resume quantitative easing - injecting fresh money into the economy through the purchase of government bonds.

Compared with the preceding quarter, the US economy grew by 0.5% between July and September.

The economy is continuing to experience a slow recovery by historical standards, with the unemployment rate at 9.6% and Americans increasingly nervous about the future.

Continue reading the main story

Analysis

Andrew Walker BBC economics correspondent, Washington

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The new figures confirm the picture of an economy that is continuing to recover from a severe recession, but not very robustly.

The 2% annualised figure means the economy grew by 0.5% in the third quarter of this year.

It is not enough to make a sustained impact on the country's high level of unemployment.

The figure is not very helpful for President Obama ahead of elections next week.

He can argue that the economy has been brought back from the brink of depression, but the outlook is gloomy for those who have lost their jobs.

This is expected to manifest itself in big losses for President Barack Obama's Democratic Party in Tuesday's congressional elections, which are being seen as a vote on his economic performance.

'Disappointing'

The Commerce Department's figures showed that businesses building up their inventories - stocks of goods and materials - contributed most of the US economic expansion during the third quarter.

The growth in business inventories made up more than two-thirds of the 2% annualised expansion in the economy.

However, consumer spending also increased, despite continuing high US unemployment.

Consumer spending rose 2.6% during the third quarter, up from 2.2% in the second.

"[Economic] growth is still positive, but a bit disappointing," said Scott Brown, chief economist at Raymond James & Associates.

"It's not where we would like it to be at this point of the recovery."

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Weather indianapolis: Storm wreaks havoc on Central Indiana

A strong line of severe thunderstorms left a swath of damage in its path Tuesday in Central Indiana.

The Howard County Sheriff’s Department reports a house suffered major damage about three miles east of Kokomo, Ind.

A 170 foot radio tower was twisted by the wind and fell on Lakeview Elementary School near the Monroe Resevoir.

Duke Energy is reporting nearly 40,000 customers without power. IPL is reporting 15,500 customers without power.

Here's a list of damage reported:

• Blackford County
  State Road 18 closed due to 20 electric poles blown down
• Boone County
  Heavy rain and high winds have downed trees in Jamestown and Lebanon
  
• Clay County
  Downed power lines and a report of trees falling on a garage
  
• Daviess County
  Downed power lines and trees through out the area
  
• Hancock County
  Roof ripped off Perks Car Wash in Greenfield on U.S. 40
  Roof damage reported at Weston Village Apartments
  Damage also reported at Long John Silver in the 500 block of Pratt Street
  
• Greene County
  Heavy wind, downed power lines and a lot of power outages
  
• Hendricks County

Trees down:
5300 W US 36
5000 W 200 S
Wayne and Broadway - Danville
Jefferson & Parthena - Brownsburg
450 W & US 36
Ridgewood & Gray - Brownsburg
7623 W 500 S
511 St Luke - Plainfield
900 N & 275 E

Power Lines Down:
5000 W & 1000 N
North Salem
1000 N & 650 E
Mitchel & Main - Pittsboro
200 E & 100 N
SR 267 & US 36
US 136 & Raceway rd
US 136 & 1000 N

• Madison County
  High winds, leaning poles and a few transformer fires.
  FedEx semi-truck blown over into ditch, no injuries reported
  
• Putnam County
  Trees reported down across the county
  
• Randolph County
  Sheriff reports they are investigating if a tornado touched down or if straight line winds knocked over grain bins, small buildings and damaged homes in the western part of county.

• Sullivan County
  Downed power lines and trees

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United call for Roo patience

United call for Roo patience

Manchester United have confirmed there have been 'no developments of note' following a series of meetings regarding the future of Wayne Rooney.

The striker's future at Old Trafford has been the focus of debate since Sir Alex Ferguson revealed on Tuesday that the England international had informed the club he wanted to leave and would not be signing a contract extension.

Prior to United's UEFA Champions League game with Bursaspor on Wednesday evening, Rooney released a statement to outline his reasons for wanting to move on.

Rooney, who turns 25 on Sunday, stated that concerns regarding the club's future ambitions were a key factor in his decision not to extend his deal beyond 2012.

Ferguson discussed the issue again after the 1-0 win over Bursaspor and expressed his wish to put the matter to bed as soon as possible in order to focus on events on the pitch.

The United boss met with chief executive David Gill at Old Trafford on Thursday afternoon and the club also held talks with Rooney's representatives.

Following those discussions, the Red Devils have released a holding statement and have urged fans to be patient as the talks continue.

"We are aware that there is intense public and media interest on the club at the moment, but there are no developments of note to report today," read the statement.

"I can confirm a number of meetings have taken place today, including with the player's representative.

"The outcome of those meetings will become clear in the near future. In the meantime, fans are asked to be patient."

United's local rivals City are currently favourites to sign Rooney, who missed the Bursaspor game with an ankle injury.

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Nokia Sees Some Noteworthy Profit

Nokia Sees Some Noteworthy Profit

Streamlining of the corporate functions is due to take place for Nokia Corp. together with some necessary job cuts. This forecast is said to be presented by Chief Executive, Stephen Elop who put forth his full-year margin forecast on Thursday.

From a €559 million loss, it is said to have swung to a €529 million ($737.9 million) for the Finland-based Nokia, Espoo. This loss had been a year earlier when the result had been hit by the heavy impairment charges.

Without the anticipation of the new Smartphone and software launches helping in reshaping their fortune, there is said to be a 4.7% rise in sales in the third quarter to €10.27 billion.

For the sake of the upcoming Symbian Smartphones, Nokia plans to bring about 18,000 job cuts.

While Nokia expects its volume market share to see a downfall in the year 2010 in comparison to the year 2009, it is said to have increased its full-year operating margin guidance.

The Company too is said to have made an announcement concerning the departure of their top Managers. The list comprises of names like the former CEO Olli-Pekka Kallasvuo. This is being done so that the Company can keep up with its competitors, such as like iPhone-maker Apple Inc. and Android-device maker HTC Corp.

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Cocaine worth million seized

Cocaine worth million seized

The Custom officials have been successful in seizing 870 gms of cocaine. The total worth of the package is estimated to be worth Rs. 4 crore in the international market.

The package was taken from a 27-year old Nigerian who had been living in India for quite some time now. He was convicted of selling cocaine to other nations the chief of which are Canada, Australia and Indonesia.

This information was given by P Sekar, Commissioner of Customs, Pune. The whole racket of the Nigerian was caught when a courier tipped off the custom department's narcotics division saying that they had received a suspicious package from a person who was residing in Delhi.

Naroctics department first calculated the value of the drugs at around Rs. 1 crore in Indian market. It was later found out of it to be more than what was expected.

Meanwhile, it was found that the Nigerian had already sent large packets of the drugs to other countries like South Africa and Seychelles through a courier service in Pune. Each time he would change his courier service but would not change the place.

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