Business

South Carolina congressman proposes bill to ban US currency in state and use gold and silver coins instead

South Carolina State Rep. Mike Pitts has introduced a bill that would ban the recognition or use of US currency in South Carolina. The lawmaker says if the Federal Government continues to spend at the current rate, there’s a chance the U.S. econom...

EU finance ministers pick Portugal's Constancio as ECB vice president

European Union finance ministers on Tuesday formally approved Portugal's Vitor Constancio as the European Central Bank's next vice-president.


MOSCOW — Russian Prime Minister Vladimir Putin on Tuesday assured Greece that a major gas pipeline project will help it recover from its debt crisis by boosting state revenues, but has not publicly suggested any possible aid from Moscow.

China charges tycoon with financial crimes

BEIJING — A Chinese court has charged the founder of home appliance giant GOME -- once the country's richest man -- with bribery, insider trading and illegal business dealings, state media reported.


Finance Minister Says Japan Government Must Ask Voters to Approve Tax Change

Japanese Finance Minister Naoto Kan indicated the government would call elections before making any major changes to the nation’s tax code, including raising the 5 percent consumption tax.

The castle of Far Far Away at Universal Studios, Singapore.

Singapore has opened its first casino, part of a campaign by the city-state to transform itself into a tourist hub and reduce its reliance on manufacturing.


Finland clears way for Baltic gas pipeline

MATTI HUUHTANEN AP 02/13/2010
Finland clears way for Baltic gas pipeline

HELSINKI — A Finnish environmental agency on Friday approved plans to build a natural gas pipeline in the Baltic Sea — the final permit needed for the underwater energy link between Russia and Germany.

South Africa Keeps Stimulus, Plans Industrial Policy

Mike Cohen Bloomberg.com 02/13/2010
South African President Jacob Zuma

South African President Jacob Zuma said his government will maintain spending measures and introduce new industrial policies to foster growth and create jobs as the economy exits its first recession in 17 years.


Google Poaches Social Search Service Aardvark

Ryan Singel Wired News 02/12/2010
Google Poaches Social Search Service Aardvark

The coolest search engine you’ve never used got snapped up by Google Thursday for a reported $50 million. Aardvark, a company that lets you use IM, Twitter and e-mail to ask full-text questions and then get answers from people in or close to your ...

The brother and sons of imprisoned swindler Bernard Madoff are the subject of criminal tax-fraud cases by federal prosecutors in Manhattan, the Wall Street Journal reported, citing people familiar with the matter.


Motorola Outlines Plan to Split Into Two Companies

MICHAEL J. de la MERCED The New York Times 02/12/2010
Sanjay Jha will oversee mobile handsets and set-top boxes.

Motorola confirmed on Thursday that it planned to reorganize into two independent companies by the first quarter of 2011, with its mobile handset unit and its television set-top box division being combined and spun off as a separate publicly trade...

Western Union to Pay $94 Million to Settle Dispute

JACQUES BILLEAUD ABC News 02/12/2010
Western Union to Pay $94 Million to Settle Dispute

Western Union has agreed to a $94 million settlement Thursday in disputes with Arizona prosecutors that center on the state's effort to reduce the flow of immigrant and drug smuggling money through wire transfers.


Nigeria's New Leader Woos Oil Companies

Will Connors, Spencer Swartz The Wall Street Journal 02/12/2010
Acting President Jonathan

Nigeria's new acting president, Goodluck Jonathan, is attempting to breathe life into the nation's ailing energy sector just two days after assuming the duties of President Umaru Yar'Adua, who has been out of the country since November with health...

Singapore's First Casino to Open February 14

SINGAPORE — Singapore's first casino will start operating on Sunday, in time for the Lunar New Year, the operator said Thursday.


North Korea to woo foreign investors: report

SEOUL — North Korea plans to open up 12 special zones for foreign investors in an attempt to shore up its crumbling economy, a South Korean newspaper reported Thursday.

Greece needs psychological and political support from Europe and does not envisage calling on the International Monetary Fund for help, Greek Prime Minister George Papandreou was quoted as saying on Thursday.


Putin says Baltic Sea gas pipeline will be 'safe'

HELSINKI — Russian Prime Minister Vladimir Putin on Wednesday downplayed environmental concerns about a planned gas pipeline in the Baltic Sea, saying it would be a "safe and reliable" energy link for Europe.

Honda expands recall to over 900000 vehicles worldwide

John Letzing & Myra P. Saefong MarketWatch 02/10/2010
Honda expands recall to over 900000 vehicles worldwide

Honda Motor Co. said Wednesday in Asia that it's further expanding a massive recall of 2001 and 2002 models to include more than 900,000 vehicles worldwide, due to lingering concerns about malfunctioning airbags.


Venezuelan President Hugo Chavez will impose stiff penalties on consumers who use extra electricity.

Venezuelan President Hugo Chavez has declared a state of emergency for the South American nation's electricity supply and announced a series of billing sanctions and rewards based on a customer's energy use.

Black Zimbabweans to take control of white-owned companies

Peta Thornycroft, Sebastien Berger Telegraph 02/10/2010
Black Zimbabweans to take control of white-owned companies

White-owned companies in Zimbabwe are to be forced to hand majority control to black businessmen in a move that could lead to chaos rivalling the seizure of the country's commercial farms.



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