News
Groupon share offer to raise up to $750m
June 03, 2011Daily discount website Groupon is seeking to raise up to $750m (£460m) in an initial public offering (IPO). It is the latest move by an internet company seeking to cash in on investor appetite for social media firms. Last month, business networking...
Prosecutors 'ask Goldman Sachs to explain behaviour'
June 03, 2011New York prosecutors have asked Goldman Sachs to explain its behaviour in the run-up to the financial crisis, according to several news agencies. They quote sources saying that the investment bank received a subpoena from the Manhattan district attorney...
Sony network attacked again, hackers claim
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June 03, 2011A hacker group has claimed it has attacked the Sony network and stolen more than one million passwords, email addresses and other information. Lulz Security said it broke into servers that run SonyPictures.com. Sony said it was aware of Lulz Security...
Nokia shares recover after Microsoft sale rumours
June 02, 2011Nokia's shares have recovered on a report that it is to sell its mobile phone business to Microsoft. The website BGR said that a $19bn (£11.6bn) deal had been struck, although Nokia declined to comment. Earlier, Nokia's shares had fallen 11% to...
Should Azerbaijan say “no” to the Nabucco pipeline project?
June 01, 2011Vugar Bayramov: ‘ It doesn’t seem realistic to find an alternative to the Nabucco project neither in an economic nor political sense.’ The Nabucco gas pipeline agreement will be signed on June 6th. From the report of the Turkish Energy...
Sprint moves to block AT&T, T-Mobile deal
June 01, 2011US mobile network provider Sprint Nextel has asked US regulators to block AT&T's takeover of T-Mobile USA, saying the deal would harm competition. Sprint has been the most vocal opponent of the $39bn (£24bn) deal that would create the largest...
Australian economy sees sharpest contraction since 1991
June 01, 2011Australia has reported its biggest quarterly fall in gross domestic product (GDP) in 20 years. Its economy contracted by 1.2% in the first three months of the year compared with the previous quarter, the latest government figures showed. The government...
Nokia cuts sales and profit-margin forecasts
May 31, 2011Mobile phone giant Nokia has said it expects sales and profit margins for the current quarter to be well below its previous forecasts. Lower selling prices and gross margins together with general market trends were behind the downgrade for its Devices...
Christine Lagarde in Asian charm offensive for IMF bid
May 30, 2011Christine Lagarde is planning to visit China, India and Brazil to drum up support for her bid to head the International Monetary Fund (IMF). The French finance minister said she wanted to visit the three countries in an effort to ease concerns over her...
Germany: Nuclear power plants to close by 2022
May 30, 2011Germany's coalition government has announced a reversal of policy that will see all the country's nuclear power plants phased out by 2022. The decision makes Germany the biggest industrial power to announce plans to give up nuclear energy. Environment...