- The Washington Times - Monday, April 28, 2008


• The skidding economy is putting the brakes on several development projects planned in Baltimore. More than $1 billion worth of development is on hold, including a high-rise at Light and Conway streets downtown that would be Baltimore’s tallest and a 17-story residential tower by HarborView Properties.


Continental Airlines Inc., the fourth-largest U.S. carrier, has decided against merging with United Airlines and will remain independent. Continental disclosed the unanimous decision by its board in a letter yesterday to employees of the Houston-based airline.

Mortimer Zuckerman, owner of the New York Daily News, submitted a $580 million bid for Tribune Co.’s Newsday in a move to challenge a deal forged by News Corp. for the Long Island newspaper, said a person familiar with the situation. Mr. Zuckerman’s counterbid matches the value of News Corp.’s offer.

Robert Rubin, chairman of the executive committee of Citigroup, told the New York Times that he steered clear of day-to-day operations at the bank and feels no responsibility for its recent financial losses. Mr. Rubin said: “By the time I finished at Treasury, I decided I never wanted operating responsibility again.”


• Thousands of white-clad demonstrators marched in Mexico City to protest a government bill to partly privatize state-run Pemex oil company, as lawmakers blocked the measure from reaching a vote. Leftists say the bill would turn over exploration and refining to foreign companies.

Brazilian President Luiz Inacio Lula da Silva blasted wealthy nations for their agricultural tariffs and urged them to “stop your hypocrisy” and start buying Brazilian biofuel. Mr. Lula da Silva also said it was “inconceivable” that wealthy nations have tried to pin the blame on biofuels for the explosive rise in global food prices.

From wire dispatches and staff reports

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