Microsoft Corp. is to exit its Encarta encyclopedia business later this year after losing ground over the years to freely available reference material on the Internet on web sites like Wikipedia. "People today seek and consume information in considerably different ways than in years past," the software maker said in a notice posted on its
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Fraud on the Internet reported to U.S. authorities increased by 33 percent last year, rising for the first time in three years, and is surging this year as the recession deepens, federal authorities said on Monday. Internet fraud losses reported in the United States reached a record high $264.6 million in 2008, according to a
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Asian stocks edged up on Tuesday and were set to score their biggest monthly rise in a decade as some investors bet the most painful stretch of corporate earnings damage may be over and bought Asian technology shares. As the first quarter and Japan's financial year draws to a close, stocks, oil prices and higher-yielding
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President Barack Obama heads to Europe on Tuesday with a hefty agenda for tackling the economic crisis and seeking support for his new Afghanistan strategy on a trip that will test his global leadership. As he sets out for his first major foreign trip since taking office in January, Obama will shift his focus to
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The U.S. recession may be easing, but the economy has not hit bottom yet and mounting unemployment looks likely to keep demand sluggish for a while. A slew of recent data — including stronger-than-expected reports on orders for big-ticket manufactured goods, housing and retail sales — has led many economists to declare that the worst
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The monthly Eurostat index on the economy reflects the pessimism, which prevails among businesspeople and consumers in the European Union member states. According to Eurostat data, the basic index reflecting the confidence on the economy reached in March 64.3 points in the EU states and 60.3 in the Eurozone members, compared to 60.9 and 65.3
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The European Commission adopted Monday a package of projects to support agriculture and food security situation in developing countries. According to a press release issued by the European Commission, the 314 million euro package includes projects to support agriculture and improve the food security situation in 23 developing countries across the globe. It is stated
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Sales of vacation and investment homes in the United States slipped to 30 percent of all transactions of existing and new homes in 2008, the National Association of Realtors said on Monday. However, more than four out of 10 investment buyers and more than three in 10 vacation-home buyers paid cash for their properties, with
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Home Depot Inc's Chief Executive Frank Blake took home slightly higher pay in 2008, despite his decision to decline the bonus offered as part of his compensation. Blake's total 2008 compensation was about $8.6 million, including salary, bonus, the value of stock and option awards and other compensation, according to a proxy filed by the
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President Barack Obama seized the wheel of the failing U.S. auto industry on Monday, forcing out General Motors Corp's chief executive, pushing Chrysler LLC toward a merger and threatening bankruptcy for both. Major U.S. stock indexes opened sharply lower following the harsher-than-expected medicine for the distressed U.S. auto companies whose fortunes have steadily worsened amid
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