Business & Economy

US Inquiry Eyes S&P Ratings of Mortgages

Louise Story CNBC 18.08.2011
US Inquiry Eyes S&P Ratings of Mortgages

The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by t...

Biden to Tell Chinese Officials U.S. Still Good Investment After Downgrade

Vice President Joe Biden begins four days of meetings, meals and tours with his Chinese counterpart today amid persistent tensions between the world’s two biggest economies over trade and currency.

Chavez Orders $11 Billion of Gold Home

Daniel Cancel and Nathan Crooks 18.08.2011
Chavez Orders $11 Billion of Gold Home

Venezuelan President Hugo Chavez ordered the central bank to repatriate $11 billion of gold reserves held in developed nations’ institutions such as the Bank of England as the metal rises to record levels behind a weakening U.S. dollar.

AOL Gets Last, Best Hope in Private Equity

Joseph Ciolli and Rita Nazareth 18.08.2011
AOL Gets Last, Best Hope in Private Equity

For a private equity firm that’s looking for the cheapest way to get online, AOL Inc. (AOL) is trading for 57 cents on the dollar. The Internet pioneer spun off from Time Warner Inc. (TWX) in 2009 plunged to a record low last week after cutting th...

France, Germany Propose 'True European Economic Government'

With the sovereign debt crisis deepening, the leaders of France and Germany announced that they would seek a "true European economic government" made up of all the heads of state of eurozone countries but led by European Union President Herman Van...

Switzerland, the nation that hasn’t gone to war with a foreign power since Napoleon, is reluctantly debating a generational taboo: ceding monetary independence to win a battle over its runaway currency.

Google to Buy Motorola Mobility for $12.5 Billion to Gain Wireless Patents

Brian Womack and Zachary Tracer 16.08.2011

Google Inc. (GOOG), the biggest maker of smartphone software, agreed to buy Motorola Mobility Holdings Inc. for $12.5 billion in its largest acquisition, gaining mobile patents and expanding in the hardware business.

Employees Bid Farewell to Corporate America

Elizabeth Alterman CNBC 16.08.2011

With the U.S. unemployment rate at 9.1 percent as of July 31 and a fragile economic recovery underway, many workers feel they are left with no choice but to take their careers into their own hands.

HKEx may make offer for London Stock Exchange-reports

Hong Kong Exchanges and Clearing Ltd , the world's most valuable and profitable exchange operator, intends to offer about HK$52 billion ($6.7 billion) to take over the London Stock Exchange , media reports said on Friday.

Euro reaches eleventh hour as Angela Merkel and Nicolas Sarkozy hold crisis talks

Louise Armitstead, and Bruno Waterfield Telegraph 21.07.2011
Euro reaches eleventh hour as Angela Merkel and Nicolas Sarkozy hold crisis talks

Angela Merkel and Nicolas Sarkozy held crisis talks in Berlin amid warnings that a failure to break the debt crisis deadlock within 24 hours would send shockwaves around the global economy.

Lolapps and 6waves merge to create social gaming giant

One of the biggest publishers of social games, 6waves, and one of the largest developers, Lolapps, have announced that as of today they will be merging into a new games company dubbed, appropriately enough, 6waves Lolapps.

Ratings agencies rattle cages in U.S., Europe

Walter Brandimarte Reuters 18.07.2011
Ratings agencies rattle cages in U.S., Europe

The credit ratings agencies are again angering governments, but this time they are taking on the big fish of the world economy.

Tehran ready to give Syria $5.8 billion: report

Iranian Supreme Leader Ayatollah Ali Khameini backs offering $5.8 billion in aid to Syria to bolster its economy, a French newspaper said Friday, citing a report by a Tehran think-tank linked to Iran's leadership.

Return of the Gold Standard as world order unravels

Ambrose Evans-Pritchard Telegraph 15.07.2011
Return of the Gold Standard as world order unravels

As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time high of $1,594 an ounce in London, lifting silver...

Singapore now surpasses Hong Kong in cost of living, according to Mercer.

Singapore overtook Hong Kong as a more expensive city for expatriates for the first time, driven by a stronger currency and higher rents, according to Mercer's Worldwide Cost of Living Survey.

Tokyo most expensive city for expats in Asia: Survey

Tokyo remains the most expensive city in Asia for expatriates, while Singapore overtook Hong Kong to become the costliest place in the region outside of Japan, according to a survey by human resources consultancy Mercer.

Cathay Pacific To Launch Freighter Service To India's Bengaluru Aug 1

Cathay Pacific is to launch a new freighter service to Bengaluru (Bangalore) in India. The twice-weekly service commences on 1 August and will operate every Monday and Thursday on a Hong Kong-Delhi-Bengaluru-Hong Kong routing.

HSBC names Peter Wong as chairman of HSBC China

Xavier Ng, Chris Lewis Reuters 11.07.2011
HSBC names Peter Wong as chairman of HSBC China

HSBC Holdings Plc, Europe's largest bank, said on Monday that it has appointed Peter Wong as chairman of HSBC Bank (China) Co Ltd with immediate effect.

Exclusive: EU calls emergency meeting as crisis stalks Italy

European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with the euro zone debt crisis for Monday morning, reflecting concern that the crisis could spread to Italy, the region's third largest economy.

Audi and BMW exports to China booming

Monsters and 07.07.2011
Audi and BMW exports to China booming

China remains the key driving force behind demand for luxury vehicles with Germany's premium auto makers reporting Wednesday another surge in sales to the world's biggest car market.

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