YouTube, the world's most popular video-sharing site, will start to sell music and video games and experiment with new advertising formats to grow revenue, executives said on Tuesday. The Google-owned business is taking the first steps toward building an e-commerce service through which it will sell music, films, TV shows, video games, books, concert tickets
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Chip maker Advanced Micro Devices Inc plans to spin off its manufacturing plants into a $5.7 billion joint venture with Abu Dhabi to get a cash injection and shrink debt to better compete against larger rival Intel Corp. AMD shares jumped 18 percent to $5 on Tuesday after Wall Street waited for months for the
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Britain announced plans to inject up to 50 billion pounds ($87.2 billion) into its biggest retail banks on Wednesday and Hong Kong slashed interest rates to try to stem the global financial crisis. British finance minister Alistair Darling said he wanted to reduce the "fear factor" in the banking system. In an effort to kickstart
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Central banks across Asia stepped up to offer more support to commercial banks on Wednesday, to try to ease painful pressure on funding costs from a vicious global credit squeeze. Just a day after it slashed interest rates by the most in 16 years, Australia's central bank expanded the types of collateral it would take
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British Finance Minister Alistair Darling said on Wednesday the government expected taxpayers' money being used for a huge bank rescue package to be repaid after three years. "The money will be in order of about 200 billion pounds," ($350 billion) Darling told BBC radio. "That is effectively lent into the banking system and we'll get
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Britain's top share index slid 6.8 percent early on Wednesday as the global financial crisis raised fears of a deep recession, battering heavyweight commodity stocks, and banks remained weak despite a UK rescue package. By 0804 GMT, the FTSE 100 was down 316.8 points at 4,288.5 to a fresh four-year low. The index has fallen
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The British government unveiled on Wednesday a plan to bolster ailing banks and shore up the financial system. Following are some key facts on the package. RECAPITALISATION The government will spend at least 50 billion pounds ($87.8 billion) buying stakes in UK banks to improve their capital strength. Banks will be able to draw on
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The Committee of the Regions (CoR) has taken the initiative on 7 October to rename its 5th floor atrium “Open Ledra Street." The re-opening last April of the famous Ledra street crossing point in the heart of Nicosia (Cyprus), forty-four years after it had been closed, created new hope and momentum for the peace process
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Cyprus has welcomed today’s agreement by European Union Finance Ministers and said it is ready to intervene, if need be, to protect its banking system, Finance Minister Charilaos Stavrakis said, in a written statement. The statement was issued in Luxembourg after ECOFIN committed itself to safeguarding the European credit and financial system. The 27 EU
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Flights from Athens airport were cancelled and traffic ground to a halt in the Greek capital on Wednesday as state-run company workers went on strike to protest government privatisation plans. Greece's private sector umbrella union (GSEE), which represents about 2 million workers, called the 24-hour strike to protest a plan to sell off state carrier
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