New York, April 9 - General Electric Co. announced Monday that it is spending $3.3 billion to buy Lufkin Industries Inc., a manufacturer of equipment used in oil drilling.
The conglomerate will pay $88.50 a share to Lufkin shareholders, a 38 percent premium over the share price at the end of trading last Friday.
Texas-based Lufkin specializes in making gear to lift crude oil and other hydrocarbons from wells where pressures are lower than normal.
The transaction is expected to be completed in the second half of the year, subject to approval by Lufkin shareholders and the relevant regulatory agencies, GE said.
New York, April 5 - Indian-American hotel owner Vikram Chatwal, who's reportedly been close with American actress Lindsay Lohan, since 2011, has been arrested in Florida on drug charges, according to a media report.
Chatwal, 41, was busted on April 2 at the Fort Lauderdale/Hollywood International Airport when the Transportation Security Administration (TSA) discovered an arsenal of drugs hidden on his person, in his crotch and in his bag, TMZ website reported citing a police report obtained by it.
New York, April 3 - The UN General Assembly has approved the first global treaty to regulate international trade in conventional weapons, the UN News Centre said.
The resolution containing the text of the treaty was approved by 154 "yes" votes with the simple majority of 97 votes in favour needed to pass the text.
The document received strong support from the majority of UN members during the Final UN Conference on the Arms Trade Treaty last Thursday. The adoption of the treaty, which required a unanimous approval, was blocked by three states - Iran, Syria and North Korea.
New York, April 1 : Nepal should allow lesbian, gay, bisexual and transgender (LGBT) groups to operate freely and end arbitrary arrests of LGBT people, Human Rights Watch said Monday.
The government should investigate threats and attacks against LGBT people, the rights body said.
Widespread harassment, including by the government, has contributed to a climate of fear among LGBT people and activists in Nepal, and has interrupted vital activities, including HIV prevention work, it said.
New York, March 26 - An earthquake measuring 6.2 on the Richter scale jolted Guatemala, the US Geological Survey said.
The epicentre of the Monday quake, with a depth of 200.50 km, was initially determined to be at 14.5994 degrees north latitude and 90.4279 degrees west longitude, Xinhua reported. (IANS)
New York, March 22 - US Vice President Joe Biden Thursday demanded "courage" from Congress in approving gun control measures that would include a ban on assault rifles.
He spoke at New York City Hall at a joint press conference with Mayor Michael Bloomberg and relatives of the victims of the Dec 14 massacre at Sandy Hook Elementary School in Newtown, Connecticut.
"It's time for the political establishment to show the courage your daughter showed," Biden said to the family of Sandy Hook teacher Lauren Rousseau, who died trying to protect her students from shooter Adam Lanza.
New York, March 15 : The population of New York City last year reached a record 8.3 million after, for the first time in more than six decades, the number of people moving into the Big Apple exceeded the number who left.
Mayor Michael Bloomberg Thursday made the announcement concerning the latest Census data, which reveal that the number of New York residents increased by 161,564 between April 2010 and July 2012, rising to 8,336,697, the highest figure in history.
New York, March 14 - At least four people have been killed and two others wounded by a single gunman in two shooting incidents in New York State, media reports said.
Two people were shot and killed Wednesday morning at a car wash in Herkimer village and two others were killed in a barber shop a mile away in Mohawk village, both in Herkimer County, Xinhua quoted police as saying.
The suspect was identified as 64-year-old Kurt Myers from Mohawk.
Police said he has white hair and beard, and was carrying a long gun for the attacks and driving a red Jeep Cherokee.
Police did not comment on a possible motive.
New York, March 13 - New York celebrates flamenco's magical enchantment with an expo of some of the marks it has made on the intense cultural life of the Big Apple over the past 100 years.
"This exhibition is the biggest thing that ever happened to flamenco here - five months of telling people the history of flamenco in New York," Carlota Santana, founder of Flamenco Vivo, told EFE.
Conceived as a multimedia expo open until Aug 3, one of its gems is a rare 1934 recording by Federico Garcia Lorca and Antonia "La Argentina" Merce during a performance in New York.
New York, March 13 - Apollo Global Management LLC and C. Dean Metropoulos & Co will acquire the famous pastries Twinkies and other brands for $410 million, bankrupt Hostess Brands Inc. announced Tuesday.
The joint offer was the only one presented in writing, and so Hostess, which announced its closure last November, decided to turn the brands over to the two companies, the firm said.
The agreement still must be approved by the bankruptcy court supervising the liquidation of Hostess's assets.
A spokesman for Apollo Global contacted by EFE declined to comment on the matter.
New York, March 12 : A New York state judge overturned Monday the city's ban on large sugary soft drinks, a big setback for the Big Apple's mayor, Michael Bloomberg.
"Arbitrary and capricious" is how state Supreme Court Justice Milton Tingling described the municipal regulation, which was set to take effect Tuesday.
Bloomberg's measure, the first of its kind in the US, banned the sale of soft drinks of more than 16 ounces with a high sugar content in stores regulated by the city Board of Health.
New York, March 9 - An Indian-American pioneer in online tutoring believes that with its best talent and technology India can create educational material for the rest of the world, raising standards and creating jobs.
Harry Aurora, CEO of iTutor Inc, will present his ideas on the future of online education at a panel discussion Sunday on 'Developing India's Silicon Valley' at the Harvard India Conference presented by the Harvard Business School and Harvard Kennedy School in Boston.
Prof. Sunil Gupta, Professor of Business Administration and Head of the Marketing Department, Harvard Business School will moderate the panel discussion at the March 9-10 conference on the theme of 'India vs India:
Local Strength or Global Growth'.
New York, March 8 - A New York jury has sought a review of the testimony of an Indian-American woman charged with keeping an illegal immigrant woman from India as a virtual slave at her mansion in upstate New York.
Jurors deciding the federal case of the 40-year-old Annie George in US District Court Albany, about 140 miles north of New York City, Thursday asked Judge Gary Sharpe to re-hear testimony in which George possibly referred to Valsamma Mathai as "the maid," Albany Times Union reported.
New York, March 8 - The UN Security Council has unanimously adopted a resolution outlining new sanctions against North Korea in the wake of the recent nuclear test carried out by Pyongyang.
The fourth set of UN sanctions is aimed at curbing the activities of North Korean banks suspected of funnelling money to the communist regime's nuclear and missile programmes.
The resolution includes measures to step up the scrutiny of suspicious North Korean sea and air cargo shipments and expands previous restrictions to encompass three North Korean officials and two entities in the country's weapons industry.
New York, Mar 6 : Carrying condoms has resulted in arrest for a growing number of women in New York.
Experts said that the issue may be contributing to a public health crisis in which sex workers are beginning to use condoms less frequently.
In an incident cited by Vice magazine, a New York woman was arrested and charged with "loitering for the purpose of prostitution" after an officer found a condom in her purse, the New York Daily News reported.
The unnamed woman was wearing jean shorts and a "tight" shirt and had been standing outdoors for about 30 minutes.
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