News Bits: Business and World News

Monday, September 7, 2009Business NewsKraft proposes $16.7 billion, Cadbury rejectsKraft Foods Incorporated offered to pay $16.7 billion to buy out the British candy maker, Cadbury PLC. Cadbury rejected Kraft’s proposal because it felt that the offer “undervalued the company”. Kraft is unrelenting, however and is determined to propose a price that is supported
 by Cadbury. Cadbury stock experienced a sharp rise (41 percent) Monday on the London Stock Exchange.G-20 continues stimulus programs, Euro and Asian stocks riseThe G-20, consisting of the globe’s 20 wealthy and developing nations, decided to continue its stimulus programs, which are intended to support the global economy. This news proved beneficial to the European and Asian stock markets Monday as the markets rose. News that Cadbury rejected Kraft’s $16.7 billion bid also sent stocks upward.World NewsPhilippines: capsized ferry kills 9; 926 rescued and 33 others missingSunday, a Philippine ferry capsized killing 9 people. The accident injured 926 people and 33 others are still missing and search efforts are underway. There is no evidence that the accident was due to a terrorist attack.Sudanese women wearing trousers fined, not floggedLubna Hussein, a Sudanese journalist is challenging a conservative Islamic law, which prohibits women from wearing trousers in public. In July, Hussein was arrested and charged with public indecency for appearing in public wearing trousers. The international community which has sympathized with Hussein’s cause drew significant criticism of the law and compelled the judge hearing Hussein’s case to issue a $200 fine rather than 40 lashings to women wearing trousers in public. In protest of the law, Lubna Hussein chose not to pay the fine and to remain in prison for one month.Iraq: 7 killed and 10 injured by car bombPolice and hospital spokespersons have confirmed that seven people were killed and ten others injured by the explosion of a car bomb near Ramadi, Iraq on Monday.3 British men connected to al-Qaida convicted of plotting a major terrorist attack