Business news for Mon, 17 Dec 2007 & with word plan. 37 news.

Support is growing in Washington for mortgage-industry reforms and homeowner-assistance programs with broader potential impact than the Bush administration's plan.

SAN FRANCISCO - The California Public Employees' Retirement System will sell more than $20 billion in stocks and bonds as the largest U.

Research In Motion Ltd. has picked the telecommunications hub of suburban Dallas as the site of its U.S. headquarters, with a plan to employ more than 1,000 people in the city of Irving within the next several years.

Support is growing on several fronts in Washington for mortgage-industry reforms and homeowner-assistance programs with broader potential impact than the Bush administration's plan to freeze interest rates on a small percentage of home loans.

CATHAY Pacific Airways Ltd appeared to have backed down yesterday on requiring staff to pay for doctor visits under a much criticized new medical insurance plan, saying each employee could make 10 free visits in the first year.

WASHINGTON - Support is growing on several fronts in Washington for mortgage-industry reforms and homeowner-assistance programs with broader potential impact than the Bush administration's plan to freeze interest rates on a small percentage of home loans.

D.C. officials yesterday announced an $850 million plan to redevelop the old Washington Convention...

The federal government on Monday announced a plan that will allow for greater product recall powers, stiffer fines for manufacturers and more product safety inspectors.

THE Japan Bank for International Cooperation, the government's main overseas lender, is to lend US$3 billion to the Abu Dhabi National Oil Co to secure a stable supply for Asia's biggest economy, which imports most of its oil needs. The bank raised about a third of the loan amount from the Mizuho Financial Group Inc and other Japanese banks, Bloomberg News said. Abu Dubai Oil, known as ADNOC, will use the loan for oil exploration and building pipelines as well as facilities to boost crude output "With the UAE's oil structured into the loan, crude supplies to Japan are more assured," Hidetoshi Shioda, a senior energy analyst at Mizuho Securities Co, said. "It also benefits the UAE, as Japan will take steady supply for a longer period of time." Japan wants to map out a supply plan after crude prices set a record last month. The loan agreement will be signed this week, when ADNOC's Chief Executive Officer Yousef Omair Bin Yousef is in Tokyo, together with Abu

AUCKLAND International Airport Ltd, New Zealand's busiest, told shareholders they should reject the Canada Pension Plan Investment Board's NZ$1.8 billion (US$1.4 billion) bid for 40 percent of the company because it is too low. The offer, equivalent to NZ$3.66 a share and 34 percent more than the airport's stock price, doesn't fully reflect the value of the company, Chairman Tony Frankham said in a statement to the stock exchange yesterday, according to Bloomberg News. Canada Pension's bid follows the Ontario Teachers' Pension Plan's purchase of four container terminals last year as fund managers seek infrastructure companies with stable earnings. Auckland Airport, with 70 percent of New Zealand's international tourist traffic, favors an investor that will pay more and has expertise in the industry. "There's still plenty of time until the offer closes and in the meantime there's the possibility they'll get a better cornerstone investor," said Alan Moore, who helps

CHINA Eastern Airlines Corp, the nation's third-largest carrier, said it is in talks to buy 40 Boeing Co 737 planes and has applied to the government for 40 Airbus SAS A320s to expand its fleet. The planned purchases may help expand the Shanghai-based carrier's fleet by 53 percent to 322 aircraft in 2010 from the current 210, Zhang Jing, a China Eastern spokeswoman, said yesterday, confirming a Reuters report. Singapore Airlines Ltd and parent Temasek Holdings Pte plan to buy a 24-percent stake in China Eastern for HK$7.16 billion (US$918 million), cutting the carrier's debt and easing its "most difficult" period, Chairman Li Fenghua said last week. The cash infusion may help the company pay for the planes to compete with Air China Ltd, according to Bloomberg News. "Carriers are queuing up to buy planes as demand grows," said Ma Ying, an analyst at Haitong Securities Co in Shanghai. "China Eastern's stake sale will enable it to afford the

SOUTH Korea's largest retailer Lotte Shopping Co plans to acquire a stake in a Chinese discount-store chain to expand its presence on the Chinese mainland, the Seoul-listed company said in a regulatory filing yesterday. Lotte agreed to buy a 49-percent stake in CTA Makro, which now operates five discount stores in Beijing and two in Tianjin, from SHV Holdings NV for 57.6 million euros (US$82.90 million). The Netherlands-based SHV Holdings IV now operates CTA Makro with a 49-percent stake while China Trade Association Property Corp Ltd owns 51 percent. Lotte also plans to open another outlet in Beijing next year, according to the statement. However, the acquisition plan is still awaiting China's regulatory approval. Shanghai Daily's call to CTA Makro yesterday was not answered. The retailer, which controls more than 40 percent of South Korea's department store market and 14 percent of discount stores, is preparing to open new outlets through land purchases and buying existing

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The Florida Orchestra announced that an agreement has been struck between its board and the Musicians' Union, AFM Florida Gulf Coast Local 427-721. Effective Dec. 10, the collective bargaining contract lays out a three-year plan introduced by Orchestra President/CEO Michael Pastreich that will affect musicians, board and staff members alike.

Zurich Financial Services inched forward its plan for acquisition-led growth with the $140m purchase of DWS Vita in Italy.

A mortgage-relief plan being pushed by the government is supposed to help debt-laden homeowners across America. But it's creating dashed hopes and fresh tensions in this city that mushroomed during the subprime-lending boom.

Qwest might have new leadership, but the company is sticking to its old game plan.

NBC's two late-night franchises are coming back. Will the laughs come with them? Jay Leno and Conan O'Brien plan a Jan. 2 return with fresh episodes, ending two months of reruns brought on by the writers' strike, the network said Monday. But until the strike is settled, the hosts will be on their own.

LONDON (Reuters) - Investors buffeted by the credit crisis will enjoy no pre-Christmas lull as central banks began putting a pump-priming plan into action on Monday while critical results from major American banks loom later in the week.

As many late-night TV shows plan their return, GE's NBC warns it may use the writers strike to cancel production deals.