Requirements eased for new insurance exchanges in 2014

Indonesia stock info - Requirements eased for new insurance exchanges in 2014 ; The Obama administration moved Monday to ease some requirements on states to help them set up new insurance exchanges in 2014, a key feature of the health care law the president signed last year. These state-based exchanges are intended to make buying a health plan comparable to shopping the Internet for an airline ticket or a hotel room. And by 2019, they are expected to serve as the main insurance resource for an estimated 24 million Americans who don't get their health insurance from their employer, according to the nonpartisan Congressional Budget Office.

Fed could keep rates low for record period
The Federal Reserve may keep interest rates at record lows for the longest period since World War II as the economic slowdown that sparked a four-month bond rally worsens, according to Treasury market signals. The 3-percentage-point gap between yields for three-month and 10-year Treasurys indicates the economy may grow 1.1 percent in the 12 months ending June 2012, a study by the Fed Bank of Cleveland says. That's less than half the central bank's current forecast, and may delay any rate increase from the zero-to-25 basis point range held since December 2008.

Diesel Cruze said to be in the works
The Chevrolet Cruze, the most popular car in the U.S. last month, will come in a diesel version that could boost gas mileage to around 50 mpg, two people briefed on General Motors Co. product plans said Monday. A diesel Cruze won't hit showrooms until at least 2013, according to one of the people, both of whom asked not to be identified because the company hasn't made a formal announcement.

Ford backs ban on drivers holding cellphones
Ford has come out in support of congressional legislation that would institute a nationwide ban on motorists using hand-held cellphones and other mobile devices while driving. Rep. Carolyn McCarthy, D-N.Y., last month introduced the Safe Drivers Act of 2011, which would direct the U.S. Transportation Department to set a national standard prohibiting such use of mobile devices, except in certain emergencies. Ford is the first automaker to publicly support the bill.

Alcoa doubles profit and sees a boost
Alcoa Inc., the largest U.S. aluminum producer, said second-quarter profit more than doubled after prices for the lightweight metal rose. Net income was $322 million, or 28 cents a share, compared $136 million, or 13 cents, a year earlier, New York-based Alcoa said Monday in a statement. Sales gained 27 percent to $6.59 billion. The company said third-quarter aluminum production will increase by 30,000 metric tons.

Nestle to pay $1.7B for Chinese firm
Nestle, the Swiss food company, said Monday that it had agreed to pay $1.7 billion for a 60 percent stake in a big Chinese confectioner. The deal is one of the biggest ever by a foreign company in China. Best known for its instant coffee brands, bottled drinks and baby foods, Nestle is teaming with Hsu Fu Chi International, a maker of chocolate, candies and pastries popular in China, to create a joint venture that Nestle said would "greatly reinforce" its presence in China. Under terms of the deal, Nestle will buy a 43.5 percent stake in Hsu Fu Chi, which is based in the southern Chinese city of Dongguan but is listed on the Singapore stock exchange. The remaining 56.5 percent will be held by the founding Hsu family, which intends to sell some of that stake to Nestle and ultimately retain 40 percent.

Bid sweetened for Australia's Macarthur Coal
Macarthur Coal, an Australian mining company, has received a sweetened takeover bid. The company said Monday that Peabody Energy and ArcelorMittal had offered to take a controlling stake in Macarthur for 15.50 Australian dollars a share, valuing it at AU$4.7 billion, or $5.1 billion. The company, based in Brisbane, was hit by floods that devastated Queensland last year. The natural disaster cost the company tons of production, although that was mostly offset by a rise in coal prices on fears it would become scarce. In May 2010, Macarthur's board rejected an offer from Peabody of AU$15 a share, calling it too low. This time Peabody, a U.S. coal company based in St. Louis, is teaming up with one of Macarthur's largest shareholders, the steel maker ArcelorMittal.

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