Business & Economy

Apple CEO Tim Cook could top pay list in 2011

Tim Cook could well end up being the highest paid CEO in America in 2011, after Apple Inc. granted him a million restricted stock units last August for taking the reins shortly before co-founder Steve Jobs died.

Germany's stance on financial transaction tax risks French rift

Angela Merkel has warned that German support for the financial transaction tax (FTT) is not guaranteed, in a move that could open up a rift with France just days before the next European summit.

World's biggest super-jumbos must be GROUNDED, say engineers after cracks are found in the wings of three Airbus A380s

Australian aircraft engineers have called for Airbus A380 - the world's biggest passenger aircraft - to be grounded, after Singapore Airlines and Qantas found cracks in the wings of their super-jumbos.

Hong Kong Exchange maintains No 1 ranking in IPO fund raising

Proactive Investors Australia 04.01.2012
Hong Kong Exchange maintains No 1 ranking in IPO fund raising

Hong Kong’s Initial Public Offering (IPO) market, benefitting from the listing success of Glencore International’s IPO, beat New York Stock Exchange (NYSE) and London Stock Exchange (LSE) to the top rank.

IMF urges members to boost funding under 2010 plan

IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender.

French credit downgrade could come 'within days'

Richard Wachman, Toby Helm and Kim Willsher The Guardian 19.12.2011
French credit downgrade could come 'within days'

France could be stripped of its triple-A credit rating before Christmas, raising new doubts about the survival of the euro, analysts have predicted.

Most stock funds post losses this year; bonds gain

John Waggoner USA Today 19.12.2011
Most stock funds post losses this year; bonds gain

The average diversified U.S. stock mutual fund has fallen 5.9% this year, vs. a 1.4% loss for the Standard & Poor's 500-stock index, says Lipper, which tracks the funds. Out of 8,036 funds, 7,399, or 92%, are showing a loss — and some are doozies.

Fitch cuts ratings on 8 major banks

Fitch Ratings on Thursday downgraded its viability ratings on eight of the world's biggest banks, citing increased challenges facing the banking sector due to weak economic growth and heightened regulation.

China trims holdings of US Treasury debt

China bought less U.S. Treasury debt in October and total foreign holdings dipped for the first time since July.

French leaders declare a war of words on Britain

James Kirkup Telegraph 16.12.2011
French leaders declare a war of words on Britain

French leaders have launched outspoken public attacks on Britain, calling for the UK to lose its AAA credit rating and comparing its economy with that of Greece.

Dealised acquires Hong Kong group-buying network

Michelle Hammond StartupSmart 15.12.2011
Dealised acquires Hong Kong group-buying network

Sydney-based group-buying firm Dealised has acquired Hong Kong-based company Localy Network Limited for an undisclosed sum, as Dealised seeks to drive its expansion across Asia.

H.K. Tops U.S., U.K. in Financial Market Growth

Sanat Vallikappen 14.12.2011
H.K. Tops U.S., U.K. in Financial Market Growth

Hong Kong topped the World Economic Forum’s 2011 index of financial market development, supplanting the U.S. and U.K. from the highest rankings for the first time.

Alibaba seeks $4 billion in financing for Yahoo

Stephen Aldred and Prakash Chakravarti Reuters Canada 09.12.2011
Alibaba seeks $4 billion in financing for Yahoo

Alibaba Group is seeking up to $4 billion in debt financing, sources said on Thursday, in a deal expected to help the Chinese e-commerce giant buy back a 40 percent stake in the company owned by Yahoo Inc.

'No second chance' to save euro, warns Sarkozy

French president Nicolas Sarkozy warned Thursday that there would be "no second chance" if EU leaders meeting in Brussels Friday cannot reach a deal to save the euro. Paris and Berlin are looking to amend the bloc’s treaties to fix the currency.

Germany dampens hopes as France warns of euro 'explosion'

Economic powerhouse Germany played down hopes Wednesday that a crucial debt summit will save the euro as French President Nicolas Sarkozy warned the risk of a eurozone "explosion" was very real.

German Politician: Downgrade Is American Plot

Standard & Poor’s warning that no less than fifteen eurozone states, including Germany, could lose their AAA credit rating has been met with howls of protest from leading German politicians. The general secretary of the Social Democratic party (SP...

Beijing, Shanghai Overtake Hong Kong in Living Cost

Beijing and Shanghai are now Asia 's seventh and eighth most expensive places to live in, overtaking Hong Kong, according to the results of a survey released on Tuesday.

Verizon to take on Netflix with Web service

Yinka Adegoke and Sinead Carew Reuters 07.12.2011
Verizon to take on Netflix with Web service

Verizon Communications Inc plans to launch a standalone service allowing customers to stream movies and television shows over the Web, in a fresh challenge to Netflix Inc and the traditional cable TV business, according to several people briefed o...

Standard & Poor's Places 15 EU Nations on Negative Credit Watch

Standard & Poor's on Monday warned it may carry out an unprecedented mass downgrade on the credit ratings of euro zone countries if EU leaders fail to reach an agreement on how to solve the region's debt crisis in a summit later this week.

Fed may give loans to IMF to help euro zone: paper

The Federal Reserve, along with the 17 euro zone national central banks, may help provide the International Monetary Fund with funds that could be used to aid debt-ridden states, a German newspaper said.

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