Stocks fell sharply on Monday as the Obama administration raised the specter of bankruptcy for U.S. automakers General Motors and Chrysler and Spain had to rescue regional savings bank CCM. The administration grabbed control of the failing U.S. auto industry on Monday, forcing out GM's (GM.N) CEO, pushing Chrysler LLC toward a merger with Fiat
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Russia secured the first position at the Cyprus Grand Prix 2009 in trap, skeet and double trap, which took place at the Limassol International Shooting Range. According to a press release by the Cyprus Shooting Sport Federation, Germany secured the second place, followed by Cyprus, Wales, Greece, Finland, Norway and Sweden. The Russian athletes won
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Moody's Investors Service expects that the global financial crisis will exert pressure on the profitability of most major equities and derivatives exchanges in 2009, according to a new report on the sector. Moody's also emphasizes that significant differences exist among its four rated exchanges (CME, LSE, NASDAQ OMX, and NYSE Euronext,) in pricing power, expense
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President Barack Obama said in an interview published on Sunday that leaders of the G20 major global economies should send "a strong message of unity" on confronting the world financial crisis when they meet this week. The U.S. leader, in an interview with the Financial Times newspaper, also said he saw signs of improvement in
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U.S. Treasury Secretary Timothy Geithner said on Sunday the government will have about $135 billion left after banks give back some bailout money and declined to say whether he will ask Congress for more. Treasury expects the banks this year to return about $25 billion of money that they received from the government, because they
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Britain's financial services industry is cutting jobs at the fastest rate for 16 years as it cuts costs to soften the blow of a steep fall in profitability, a survey showed on Monday. The CBI/PWC financial services survey, covering the three months to early March, found 9 percent of companies reporting a rise in business
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Japan's Fujitsu Ltd said on Monday it aims to double PC server sales in two years to lift its global share to 7 percent from the current 4 percent, as it tries to battle bigger rivals like Hewlett-Packard and Dell Inc. Fujitsu said its planned buyout of its computer joint venture with Siemens would allow
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Skype, the Internet telephone unit of eBay Inc, is planning to launch its service for iPhone users on Tuesday and for BlackBerry in May as part of its effort to expand beyond desktop computers. Skype has been pushing to make its service work on the most popular advanced phones with an aim to expending its
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Google Inc on Monday launched free downloads of licensed songs in China, while sharing advertising revenue with major music labels in a market rife with online piracy. Lee Kai-Fu, president of Google in greater China, said one reason Google lagged in the mainland search market was because it did not offer music downloads, the missing
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The Statistical Service has produced various statistics on the production of animal and dairy products in Cyprus. The production of cows’ milk for December increased to 13,100 tons from 12,160 tons in the previous month. Compared to the same month of the previous year it increased by 4%. The quantities of milk products for June
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