– Goldman Sachs, DST invest $500 mln     Facebook has raised $500 million from Goldman Sachs and Russian investment firm Digital Sky Technologies, in a deal that values the world's No.1 Internet social networking company at $50 billion, according to a person familiar with the matter. The firms also plan to raise at least

U.S. Defense Secretary Robert Gates is expected to announce as early as Thursday about $100 billion in savings for the Pentagon and cuts to some weapons programs, sources said on Monday. The announcement will detail a plan that military services have been hammering out for months. The Pentagon is under increasing pressure to cut its

Japanese stocks led Asian equities higher, climbing to their highest since May, and oil prices were perched near a 27-month high on Tuesday, with investors betting the improving U.S. recovery may be reflected in jobs data later in the week. The dollar also rose while U.S. Treasuries dipped in Asia as investors kicked off the

IBM (NYSE: IBM) formally unveiled the fifth annual "Next Five in Five" – a list of innovations that have the potential to change the way people work, live and play over the next five years. The innovations include "You'll beam up your friends in 3-D", "Batteries will breathe air to power our devices", "You won't

European shares rose on Monday in the first trading session of 2011, led by German automaker Porsche, while the euro fell against the dollar on concerns the euro zone sovereign debt crisis could resurface soon. German government bond futures rose but pared earlier gains as stocks bounced and after stronger-than-expected euro zone manufacturing data. Gold

Gold rose above $1,420 an ounce in Europe on Monday, within 1 percent of its record high, and silver and palladium hit multi-year peaks, driven by pent-up demand on the first trading day of 2011. While a firm dollar limited gains, expectations for more bad news on euro zone debt, concerns over potential inflation in

Oil extended a rally above $92 a barrel on Monday, spurred by expectations that a global economic recovery is gathering strength and as market bulls set their sights on $100 a barrel. U.S. crude was trading 77 cents higher at $92.15 a barrel by 1108 GMT, just off a session high of $92.20, its highest

Factory output growth eased only slightly in Asia in December and offered an upbeat end to a fraught 2010 for the euro zone, with signs that growth in export orders was filtering through to the region's periphery. Surging new orders and a fast-improving labour market helped quicken the expansion of the single currency area's manufacturing

– Hyundai 2010 sales up 16 percent; Kia sales up 40 percent  South Korean automakers predicted rising 2011 sales on U.S. and China growth, while France's car market ended a negative 2010 on a high note, with drivers flocking to bag scrapping bonuses before they ran out. Carmakers are increasingly relying on growth in high-profile

Cyprus Minister of Commerce, Industry and Tourism Antonis Paschalides said on Monday that he has informed the President of the Republic Demetris Christofias concerning the Natural Gas Public Company's (DEFA) unanimous decision for the preferred supplier of natural gas. In statements on Monday, Paschalides said he will hold meetings with the political parties to brief