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Abu Dhabi hotel installs gold vending machine

There's no mistaking what's in this vending machine. The well-heeled in the Gulf can now grab "gold to go" from a hotel lobby in the United Arab Emirates, when the need for a quick ingot strikes.

HSBC chief warns hasty regulation could create second crisis

Hastily introduced banking industry regulation risks precipitating a second credit crunch and throwing the world's financial system back into crisis, HSBC chief executive Michael Geoghegan has warned.

Google situation in China 'seems to be stable': CEO

Google chief executive Eric Schmidt said Thursday that the Internet giant's situation in China "seems to be stable" following its decision two months ago to stop censoring Web search results.

Barack Obama plans to punish oil companies with tax hike as Gulf spill worsens

Oil companies face an immediate tax rise of 1 cent per barrel to help to pay for the clean-up in the Gulf of Mexico under proposed legislation rushed out by the White House yesterday.

Russia Signs $20 Billion Deal for Turkish Nuclear Power Plant

Russia's ZAO Atomstroyexport signed an agreement to build a power plant with four nuclear reactors on Turkey's southern coast at a cost of as much as $20 billion after more than a year of negotiations.

Bankers jailed, sued as Iceland seeks culprits for crisis

More than a year and a half after Iceland's major banks failed, all but sinking the country's economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.

Citi to Pay Board Member Joss $350,000 for Consulting

Bradley Keoun Bloomberg.com 11.05.2010
Citi to Pay Board Member Joss $350,000 for Consulting

Citigroup Inc. will pay director Robert Joss $350,000 for as little as three weeks of work amid criticism by shareholder-advisory firm Glass, Lewis & Co. that he lacks the independence needed to serve on the board.

US food-stamp tally nears 40 million, sets record

Nearly 40 million Americans received food stamps -- the latest in an ever-higher string of record enrollment that dates from December 2008 and the U.S. recession, according to a government update.

EU Preps $645 Billion Fund to Fight ‘Wolfpack,’ Debt Crisis

James G. Neuger and Meera Louis Bloomberg.com 10.05.2010
Indian billionaire to open 'save the planet’ restaurant

Indian billionaire Radhika Oswal is set to open the world’s first restaurant that offers a menu aimed at saving the planet from climate change.

EU Preps $645 Billion Fund to Fight ‘Wolfpack,’ Debt Crisis

European Union finance ministers moved toward agreement on an unprecedented loan package worth at least $645 billion to prevent Greece’s fiscal woes from triggering a broader sovereign-debt crisis and shattering confidence in the euro.


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