News
PayPal sues Google over mobile wallet technology
May 27, 2011Google is being sued by PayPal, which claims that the internet search giant stole its technology for turning smartphones into digital wallets. PayPal alleges that Google obtained trade secrets from Osama Bedier, a former PayPal executive who is now Google...
Japan beats deflation for the first time in two years
May 27, 2011Japan has beaten deflation for the first time in two years, as fuel imports surged following the earthquake and tsunami. Consumer prices rose by 0.6% in April, from a year earlier, according to the Statistics Bureau. However, credit ratings agency Fitch...
Libyan assets held by leading global banks
May 26, 2011Some of the biggest and best-known financial institutions in the world held billions of dollars of Libyan state funds, a leaked report has revealed. Principal among them were HSBC, Royal Bank of Scotland, Goldman Sachs, JP Morgan Chase, Nomura and Societe...
Burberry fashion brand reports 40% profit rise
May 26, 2011Strong sales of leather bags and other accessories have boosted profits at luxury fashion brand Burberry. Profits for the 12 months to the end of March were £296m, up 40% on a year ago, with revenues up 27% to £1.5bn. Burberry said its focus...
Azerbaijan could say ‘no’ to Nabucco?
May 26, 2011Azerbaijan could export its gas to European markets by routes other than the Nabucco pipeline that “offer better conditions”, head of the state energy firm Socar has said. “Anything can happen, there are a lot of projects and we can...
US Treasury agrees to sell $5.8bn worth of AIG shares
May 25, 2011The US Treasury has agreed to sell part of its stake in American International Group (AIG), as it winds down ownership of the global insurer. The government plans to sell 200 million AIG shares at $29 (£18) each, a total of $5.8bn. It stands to...
Foxconn factory explosion in China kills two
May 22, 2011An explosion at a Chinese factory owned by Foxconn has killed at least two people and injured 16, three of them seriously. The incident happened on a production line for Apple's iPad 2 in Chengdu in the south-western province of Sichuan, according to...
US Dollar dominance end by 2025
.jpg)
May 19, 2011Chisinau / Moldova.ORG/ -- World Bank expects the dollar to lose its hegemonic position in the global economy by 2025, but the Yuan and the euro will gain their places in the monetary system. The dominance of the dollar in international monetary system...
Sanctions are strangling us says a leading Libyan rebel
May 18, 2011Western governments are "strangling" the rebel movement in Libya, by failing to provide funds to opponents of Colonel Muammar Gaddafi, according to a leading dissident. Dr Ali Tarhouni is head of the finance office in the interim government...
BP offers 'new proposal' to salvage deal, says Rosneft
May 18, 2011Rosneft has said it has received "new proposals" from BP after the deadline for their Arctic deal lapsed. The Russian state oil firm said the proposals went "outside the framework" of the earlier failed deal, and meant talks on a...