(NEW YORK) Facebook is overhauling its privacy controls over the next several weeks in an attempt to simplify its users' ability to control who sees the information they share on the site.
Thursday, July 2, 2009
Wednesday, July 1, 2009
Others may face charges in Madoff scam: source
(NEW YORK) A person familiar with the investigation into disgraced financier Bernard Madoff says 10 more people will be charged by the time the probe is complete. The person tells The Associated Press that the 10 others will face federal charges over the next few months. The person spoke on condition of anonymity because the investigation is ongoing.
Monday, June 29, 2009
More UK students to be rejected by universities: report
(LONDON) Record numbers of A-level students in Britain, including thousands with straight-As, will be rejected by universities this summer as applications soar in the recession, according to the Daily Telegraph on Saturday.
Saturday, June 27, 2009
Infosys co-chairman to head India's IC project
(BANGALORE) Infosys Technologies Ltd, India's second-biggest provider of software services, said co-chairman Nandan Nilekani resigned after being chosen by Prime Minister Manmohan Singh to head a national identity-card project.
Friday, June 26, 2009
Firewalker's faulty gene may shake up market for painkillers
(LONDON) A Pakistani boy who could walk on burning coals propelled drugmakers on a quest for the ultimate pain treatment that can ease an ailment as old as life itself without harmful side-effects.
Wednesday, June 24, 2009
Home resales in May increase 2.4%
(WASHINGTON) Home resales in the US rose in May for a second month as record foreclosures caused prices to drop.
Monday, June 22, 2009
Regulate hedge funds worldwide: IOSCO
(MADRID) Hedge funds should be required to register and disclose data to regulators to guard against their trading destabilising financial markets, the International Organization of Securities Commissions (IOSCO) said yesterday.
Saturday, June 20, 2009
Disputed vote not rigged, says Iran's supreme leader
IRAN'S supreme leader yesterday said that the disputed presidential vote had not been rigged, warning protesters to halt massive demonstrations demanding a new election or be held responsible for creating chaos.
Thursday, June 18, 2009
UK MPs' expenses officially published finally
(LONDON) Details of MPs' expenses were officially published yesterday, although with key information like addresses blacked out.
Wednesday, June 17, 2009
Ex-CEO plundered retirement plan: AIG
(NEW YORK) The former top executive of American International Group Inc (AIG) plundered an AIG retirement programme of billions of dollars because he was angry at being forced out of the company, a lawyer for the insurer told jurors on Monday at the start of a civil trial.
Monday, June 15, 2009
All eyes on BRIC summit for dollar signals
(MOSCOW) When the leaders of Brazil, Russia, India and China gather for their first full-fledged summit, they will be closely watched for signs of policy shifts that could affect the global role and strength of the US dollar.
Saturday, June 13, 2009
BOA chief grilled over Merrill deal
KENNETH Lewis told Congress on Thursday he didn't feel threatened when regulators said they might oust him as head of Bank of America Corp (BOA) if he scuttled the purchase of Merrill Lynch & Co. At least half a dozen members of Congress begged to differ.
Thursday, June 11, 2009
Film casts doubts on US food safety
(NEW YORK) Bigger-breasted chickens fattened artificially. New strains of deadly E coli bacteria.
Tuesday, June 9, 2009
VW supports Qatar buying stake
(HAMBURG) Volkswagen would support the Gulf emirate of Qatar taking a substantial voting stake in either its debt-laden parent Porsche or in VW itself, Europe's largest carmaker said yesterday.
Sunday, April 5, 2009
Business briefing
US banks that have received government aid are considering buying toxic assets to be sold by rivals under the Treasury's US$1,000 billion plan to revive the financial system, the Financial Times said.
Thursday, March 26, 2009
IBM to lay off 5,000 US-based workers
(SAN FRANCISCO) IBM Corp plans to lay off about 5,000 US employees in a new round of job cuts. The move reflects IBM's aggressiveness in shifting labour to lower- cost regions such as India and keeping its profits aloft at a time when other technology companies' earnings are tumbling.
Wednesday, March 25, 2009
Obama fills key positions at Treasury Dept
(WASHINGTON) US President Barack Obama on Monday moved to fill the leadership vacuum at the Treasury Department, tapping former Treasury official Neal S Wolin as Secretary Timothy Geithner's number two and former White House aide Lael Brainard for the top international job.
Monday, March 23, 2009
Top SocGen execs return 340,000 options
(PARIS) Four top executives of Societe Generale have handed back 340,000 stock options that they had been awarded this year to defuse a political firestorm over the payouts, the French bank said on Sunday.
Sunday, March 22, 2009
HSBC, Citigroup, UBS move to bolster balance sheets
THREE of the world's biggest banks on Thursday embarked on fresh steps to boost their balance sheets, as governments moved to crack down on excesses that may have fuelled the global credit crisis.
Saturday, March 21, 2009
Obama offers olive branch to Iranians
US President Barack Obama yesterday launched a historic direct appeal to the Iranian people, urging an end to decades of animosity and offering 'honest' engagement with the Islamic Republic.
Thursday, March 19, 2009
Geithner feels the heat as bonus fury rages
(WASHINGTON) If not distancing itself from Treasury Secretary Timothy Geithner, the White House is placing firmly on his shoulders responsibility for how the government handled the US$165 million in bonuses paid to about 400 executives and traders at American International Group.
Tuesday, March 17, 2009
JPMorgan must vote on bonus, SEC rules
(NEW YORK) JPMorgan Chase & Co must allow shareholders to vote on measures that would tie executive bonuses to the bank's long-term stock performance, US regulators have ruled.
Monday, March 16, 2009
Gordon Ramsay awarded his 13th Michelin star
(LONDON) Gordon Ramsay, the UK chef known for gourmet food and television tirades, gained a Michelin star yesterday for his Prague restaurant, where he has handed day-to-day management to the hotel in which it's based.
Sunday, March 15, 2009
Swiss move may spark competitive devaluations
SWITZERLAND on Thursday broke a taboo among developed nations by trying to weaken its currency to help its economy, a policy that could trigger a wave of competitive devaluations if times get much harder.
Saturday, March 14, 2009
Berkshire, GE among giants losing AAA rating
THE credit crisis is thinning the ranks of AAA companies, after General Electric and Warren Buffett's Berkshire Hathaway lost top-level debt ratings on concern about losses on financial instruments.
Thursday, March 12, 2009
Ready for the ride
The Space Shuttle Discovery STS-119 sitting on its launch pad with the moon providing an appropriate backdrop.
Wednesday, March 11, 2009
UBS posts loss of 20.9b Swiss francs for 2008
(ZURICH) UBS posted a 20.9 billion Swiss franc (S$27.7 billion) loss for 2008, more than initially reported, and said it remains 'extremely cautious' about the outlook for this year.
Tuesday, March 10, 2009
Sceptics gather to discuss global warming
(NEW YORK) More than 600 self-professed climate sceptics are meeting in a Times Square hotel this week to challenge what has become a broad scientific and political consensus: that without big changes in energy choices, humans will dangerously heat up the planet.
Monday, March 9, 2009
Recession will last all of this year: 'Dr Doom'
(NEW DELHI) The US professor nicknamed 'Dr Doom' for forecasting the financial crisis has said the global recession will last all of this year and probably next, India's Mail Today reported on Saturday.
Saturday, March 7, 2009
Arctic summer ice may vanish by 2013
THE Arctic is warming up so quickly that the region's sea ice cover in summer could vanish as early as 2013, decades earlier than some had predicted, a leading polar expert said on Thursday.
Friday, March 6, 2009
Nissan gives staff green light to take on part-time work
NISSAN Motor is letting full-time factory and office staff in the country take on part-time jobs to supplement wages that are reduced by production cuts.
Thursday, March 5, 2009
Madoff gives up business, artwork, corporate tickets
(NEW YORK) Bernard Madoff has agreed to give up the rights to his disgraced investment business and his company's prized artwork and entertainment tickets as he faced another appearance in a federal courtroom yesterday.
Wednesday, March 4, 2009
Job clubs spring up as jobless numbers swell
(OVERLAND PARK, Kansas) Tom Skidmore has been out of work only since December. But when his former employer filed for bankruptcy in January and his severance evaporated, he knew that he did not have much time. As the sole breadwinner for his family of five, he had to find work fast.
Monday, March 2, 2009
Moffett quits as CEO of Freddie Mac
(WASHINGTON) The top executive of Freddie Mac is quitting after less than six months on the job as the company continues to bleed from mortgage losses and plans to ask the government for up to US$35 billion in additional aid.
Sunday, March 1, 2009
Mortgages form bulk of Citigroup portfolio
(NEW YORK) Mortgage and real estate assets constitute more than two-thirds of the US$300.8 billion Citigroup Inc portfolio in which the US government agreed to share in losses, the bank said on Friday.
Saturday, February 28, 2009
Fannie looks to government after loss
FANNIE Mae, the government-controlled company seen by President Barack Obama as a key conduit to stabilise US housing, on Thursday reported a US$25.2 billion fourth-quarter loss, forcing it to draw capital from the Treasury.
Friday, February 27, 2009
Princes of darkness
A stock trader dressed as the devil is seen in front of the German share price index DAX board at the German stock exchange.
Thursday, February 26, 2009
German economy shrinks 2.1% in Q4
(FRANKFURT) The German economy, Europe's biggest, posted a sharp contraction late last year as crucial exports collapsed, and several economists have now revised their forecasts for 2009 even lower.
Tuesday, February 24, 2009
Yahoo news exec quits amid talk of revamp
(SAN FRANCISCO) The head of Yahoo Inc's news and information division has jumped ship to Hearst Corp, as speculation mounts that the Internet company is on the brink of a major management reorganisation.
Monday, February 23, 2009
A master of small budget films
(HOLLYWOOD) Danny Boyle has spent most of his career proving that small is often beautiful, whether he's filming drug addicts in Edinburgh or virus-crazed zombies rampaging through London.
Sunday, February 22, 2009
Broadcast feeling pinch of lower ad spending
THE Oscars have lost some of their lustre this year - at least when it comes to advertising.
Saturday, February 21, 2009
Kirin to buy up to 49% of San Miguel Brewery
JAPAN'S No 2 brewer, Kirin Holdings, will buy up to 49 per cent of San Miguel Brewery, the beer-making arm of South-east Asia's biggest food and drinks firm, for US$1.4 billion.
Thursday, February 19, 2009
HP cuts sales forecast, salaries
(SAN FRANCISCO) Hewlett-Packard Co, the world's largest personal-computer maker, reported sales that missed analysts' estimates and reduced its sales forecast for the year. The company is cutting salaries starting this quarter.
Wednesday, February 18, 2009
Berkshire cuts stakes in J&J, P&G
(NEW YORK) Warren Buffett's Berkshire Hathaway Inc reduced holdings of Johnson & Johnson (J&J), the world's largest maker of healthcare products, and Procter & Gamble Co (P&G), the biggest consumer products company.
Tuesday, February 17, 2009
US auto industry must undergo broad restructuring: official
(WASHINGTON) The US auto industry must undergo a broad restructuring, requiring sacrifice on the part of auto workers, creditors, shareholders and the executives who run the companies, if it is to thrive again, White House senior adviser David Axelrod said on Sunday.
Friday, February 6, 2009
Deutsche posts 1st annual loss since WWII
GERMANY'S biggest lender, Deutsche Bank, on Thursday posted its first annual loss since World War II after a terrible fourth quarter but said it would survive the global meltdown without state aid.
Thursday, February 5, 2009
Madoff whistleblower lambasts regulator
(WASHINGTON) Harry Markopolos, a former investment manager who tried to warn US regulators about Bernard Madoff, joined lawmakers in blasting the Securities and Exchange Commission but said that he was forwarding more tips to the agency.
Wednesday, February 4, 2009
Tuesday, February 3, 2009
Models work at half-price as economic crisis deepens
(PARIS) Free designer dresses, an army of admirers and US$15,000 to stroll down a catwalk: no wonder thousands of teenage girls aspire to being a top model.
Sunday, February 1, 2009
Briefing
NORINCHUKIN Bank, the unlisted central bank for Japan's agricultural and fishery cooperatives, plans to increase its capital by as much as 2 trillion yen (S$33.75 billion) to make up for huge losses on investments, the Nikkei financial daily reported.
Friday, January 30, 2009
Sandy Weill to end contract with Citi
SANFORD 'Sandy' Weill, the man who created Citigroup a decade ago, will be officially off the embattled bank's payroll in April.
Thursday, January 29, 2009
Asda to create 7,000 jobs this year
(LONDON) Asda, Wal-Mart Stores Inc's UK supermarket chain, said it plans to create 7,000 jobs this year as it adds more store space, bulks up its Internet operations and sells more goods besides food.
Wednesday, January 28, 2009
Bloomberg was biggest giver in US with US$235m
(NEW YORK) Mayor Michael R Bloomberg can claim to be No 1 in a category he cares deeply about: giving his money away.
Monday, January 26, 2009
Petrobras unveils US$174b spending plan
(RIO DE JANEIRO) Petroleo Brasileiro SA (Petrobras) Brazil's government- controlled oil company, says state financing will help it meet spending plans of US$28.6 billion this year to help develop the Americas' largest oil discovery in three decades.
Sunday, January 25, 2009
Roaring in from the past
(LONDON) Nicholas Benwell, a vintage sports car specialist, with a two-seater Bugatti Type 57S Atalante in a photo studio in Hartley Wintney, 65km west of London, earlier this month.
Saturday, January 24, 2009
Samsung runs up 20b won loss in Q4
SAMSUNG Electronics, the world's largest manufacturer of flat-screen televisions, memory chips and liquid crystal displays, posted its first ever quarterly loss yesterday as the global economic slump hit prices and demand for mainstay products.
Friday, January 23, 2009
Benjamin Button leads with 13, Slumdog 10
(LOS ANGELES) The Curious Case of Benjamin Button, a drama in which Brad Pitt plays a man who ages backward, led the field of Oscar contenders with 13 nominations, organisers said yesterday.
Wednesday, January 21, 2009
AIG not renewing Man U sponsorship
(LONDON) Insurance giant American International Group will not renew its shirt sponsorship deal with European and world club soccer champions Manchester United.
Tuesday, January 20, 2009
F1 must cut costs to survive: Renault boss
(PORTIMAO, Portugal) Formula One must cut costs if it is to survive the credit crunch, Renault boss Flavio Briatore warned on Monday.
Monday, January 19, 2009
Wave of riots in EU as youths grow frustrated
(RIGA) Standing in the X-ray room of the gleaming private clinic he opened last year, Leons Platacis is an incongruous champion for youths who rioted in Latvia last week, part of a wave of European protests.
Saturday, January 17, 2009
Madoff mirage where no trade was executed
BERNIE Madoff's investment fund may never have executed a single trade, industry officials say, suggesting that detailed statements mailed to investors each month may have been an elaborate mirage in a US$50 billion fraud.
Friday, January 16, 2009
Bush defends his actions, admits setbacks
UNPOPULAR but unbowed, US President George W Bush defended his tumultuous two terms in a farewell address to the nation on Thursday night, claiming a series of successes at home and aboard.
Thursday, January 15, 2009
Wal-Mart rated most valuable US retail brand
(NEW YORK) Wal-Mart Stores may overcome the worst holiday shopping season in 40 years because of the strength of its brand.
Wednesday, January 14, 2009
US firms seek tax waiver for offshore unit loans
(NEW YORK) Morgan Stanley, United Technologies and General Electric (GE) are asking lawmakers to waive US tax penalties on businesses that borrow from their offshore units, according to congressional aides and lobbyists.
Tuesday, January 13, 2009
Reinet in talks to buy Lehman assets
(JOHANNESBURG) An investment company controlled by South African billionaire Johann Rupert is in talks about the buy-out of Lehman Brothers Inc's merchant banking business.
Monday, January 12, 2009
GMAC's Merkin quits under Madoff cloud
(NEW YORK) Ezra Merkin, one of the most prominent hedge fund managers embroiled in Bernard Madoff's alleged fraud scheme, will resign as chairman of GMAC LLC so the finance company will be eligible to receive US taxpayer funds.
Saturday, January 10, 2009
Slumdog Millionaire is critics' choice
SLUMDOG Millionaire was the final answer at the Critics Choice Awards on Thursday.
Friday, January 9, 2009
Obama's energy goal challenging: Exxon
ExxonMobil chief executive Rex Tillerson says it would be difficult to meet President-elect Barack Obama's goal to significantly boost US alternative energy production.
Thursday, January 8, 2009
US$1.25b Dubai race course deal scrapped
(DUBAI) Companies building the centrepiece of a prominent Dubai race course said on Tuesday the original US$1.25 billion contract has been cancelled, raising questions about the future site of the Middle East's premier horse race.
Wednesday, January 7, 2009
A first taste of the cut and thrust
(WASHINGTON) Two weeks before assuming power, US President-elect Barack Obama took his economic recovery package to Capitol Hill on Monday and worked to build a bipartisan coalition to endorse his plan of tax cuts and new spending with an urgent appeal 'to break the momentum of this recession'.
Monday, January 5, 2009
Treasury asked to explain bailout choices
(WASHINGTON) The Treasury Department's inspector general wants Treasury to explain its secretive process for deciding which banks receive investments of taxpayer dollars from the government's US$700 billion financial rescue programme.
Sunday, January 4, 2009
BOA, Wells Fargo wrap up mergers
BANK of America Corp completed its purchase of Merrill Lynch & Co and Wells Fargo & Co finished buying Wachovia Corp, the latest sea changes in a transformed banking industry facing dire economic times ahead.
Saturday, January 3, 2009
3-Ds, blockbusters to boost Hollywood fortunes in 2009
A SLEW of quality movies and higher ticket prices helped Hollywood hold its own last year despite recession, while the new year promises more 3-D pictures and some big blockbusters to keep audiences coming in.
Thursday, January 1, 2009
Pepsi, Beckham end endorsement relationship
(CHICAGO) PepsiCo is ending its endorsement relationship with English soccer star David Beckham after 10 years in a move that it described on Wednesday as mutual by both sides.
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