Business & Economy
International alarm over euro zone crisis grows
International alarm over Europe's debt crisis hit new heights on Tuesday, with President Barack Obama pressing the bloc's big countries to show leadership as talk of a Greek default escalated and markets heaped pressure on Italy.
HSBC to sell general insurance arm for $1 billion as CEO Gulliver moves on divestment plans
HSBC wants to sell its general insurance business for an estimated $US1 billion ($967 million) as the chief executive presses ahead with plans to offload the bank's non-essential assets.
German minister raises ‘orderly default’ for Greece
Germany has stepped up its rhetoric against Greece, warning that the debt-laden country could default on its debts in a move that highlights the growing divisions at the heart of Europe.
Yahoo! board removes Carol Bartz as CEO
Reports Tuesday night have Carol Bartz out as Yahoo's CEO. The news ends a tumultuous 30-month reign for the former Autodesk CEO.
Hong Kong Company Finds 22.8 Tons of Gold in North Sumatra
A mining company from Hong Kong, G-Resources, discovered another gold reserves in Tor Uluela, Martabe, North Sumatra. The resources were estimated to contain 730,000 ounces of gold and 4.2 million ounces of silver graded 1.0 g/t gold and 6.0 g/t s...
Iceland says it was "bullied" over bank debt
Iceland's president accused European countries on Sunday of having bullied it into agreeing to guarantee repayment of the debts of a failed bank, reviving a dispute with Britain and the Netherlands whose citizens are owed billions.
Italy pledges to meet debt goal as worries grow
Economy Minister Giulio Tremonti promised on Sunday to meet Italy's budget commitments after the European Central Bank stepped up pressure for action by the struggling center-right government.
AOL, bankers huddle; Eyes going private
Faced with a falling stock price and speculation that the company is a takeover target, AOL has huddled with bankers in recent days to discuss options, including the possibility of taking the company private.
Merkel backs euro fund boost, faces revolt risk
German Chancellor Angela Merkel's cabinet approved new powers for the euro zone's bailout fund on Wednesday, but she faces an uphill battle to convince party skeptics to back efforts to contain the crisis.
Chinese, HK firms dominate Forbes Asia's 'Best under a Billion'
Chinese and Hong Kong companies steal the limelight on Forbes Asia's 'Best Under a Billion' list this year. Out of 200 companies on the list, 65 companies from these markets showed exceptional sales and earnings growth.
Hong Kong's Choi family back out of RAB deal -FT
Hong Kong's billionaire Choi family has backed out of plans to acquire funds from RAB Capital , the Financial Times reported on Wednesday.
Reports: EBay Looks For Acquisitions In Japan, China
Online marketplace EBay Inc. (EBAY: News ) is looking at acquisition opportunities in Japan and China to expand in the Asian markets, reports said. Asia is expected to become the growth engine in the coming years with around one-third of sales com...
Italy drops proposal for levy on high earners
Italy dropped Monday a proposal for a levy on high earners approved by the cabinet earlier this month as part of an austerity package aimed at calming the markets by balancing the budget before 2013.
"Act now" to save global recovery, IMF chief urges
The new head of the IMF on Saturday called on global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to prevent a descent into a renewed world recession.
Euro bail-out in doubt as "hysteria" sweeps Germany
German Chancellor Angela Merkel no longer has enough coalition votes in the Bundestag to secure backing for Europe's revamped rescue machinery, threatening a consitutional crisis in Germany and a fresh eruption of the euro debt saga.
Steve Jobs Quits as Apple CEO
Steve Jobs, the ailing tech visionary who founded Apple Inc., said he was unable to continue as chief executive of the technology giant and handed the reins to Chief Operating Officer Tim Cook.
Standard & Poor's President Stepping Down
The president of Standard & Poor's is stepping down, an announcement coming only weeks after the rating agency's unprecedented move to strip the United States of its AAA credit rating.
Russia in talks to build more nuclear plants in Iran: report
Russia has put forward "proposals" to build new nuclear power plants in Iran after the completion of the Bushehr project, local media reported Sunday quoting the Islamic republic's atomic chief.
Biden tells China not to count out U.S. strength
U.S. Vice President Joe Biden on Sunday rejected views that American power is waning and said Washington would never default, wrapping up a China visit that has played down tensions between the world's two biggest economies.
Starbucks pays $75K in suit filed by woman with dwarfism
The Starbucks Coffee Company has paid $75,000 to the U.S. Equal Employment Opportunity Commission to settle a lawsuit for unlawfully denying a reasonable accommodation to a woman with dwarfism, according to a press release.