The Russian Ministry of Foreign Affairs has announced the appointment of Vyacheslav Scumskiy to the post of Ambassador of the Russian Federation to the Republic of Cyprus. The decree was signed by President Dmitri Mendeleev on September 11 and Scumskiy is expected to arrive in Cyprus by the end of September and fully assume his
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Investment bank Morgan Stanley is weighing whether it should remain independent or merge with a bank, give the recent turbulence in the company's share price, broadcaster CNBC reported on Wednesday. Morgan Stanley officials were not in merger talks as of late Tuesday, CNBC said, citing unnamed people close to the matter. "But senior people at
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A record rate of foreclosures probably kept many U.S. home builders off the job last month, pushing the rate of groundbreaking for new homes to its lowest level in more than 17 years, a Reuters poll showed. Housing starts in August are expected at an annual rate of 950,000 units, down from 965,000 in July,
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Asian stocks rose and oil jumped more than $3 on Wednesday after the U.S. government bailed out cash-strapped American International Group in a dramatic about-face to stem further damage to the global financial system. But gains were cautious in many markets amid fears that the global credit crisis, now in its second year, could claim
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U.S. authorities engineered an $85 bln rescue of insurance giant American International Group Inc, staving off bankruptcy and bringing a measure of calm to shell-shocked global markets. The bailout, made amid a cataclysmic week for the financial sector, marks a reversal of Washington's vow not to step in and calls for the U.S. Federal Reserve
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Japan's NEC Electronics Corp (6723.T: Quote, Profile, Research, Stock Buzz) and Germany's Elmos Semiconductor AG (ELGG.DE: Quote, Profile, Research, Stock Buzz) said they would jointly develop semiconductor products to better compete in the automotive and industrial markets. NEC Electronics shares jumped more than 4 percent on the news, which came a week after the company
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Social networking sites are the hottest attraction on the Internet, dethroning pornography and highlighting a major change in how people communicate, according to a web guru. Bill Tancer, a self-described "data geek", has analyzed information for over 10 million web users to conclude that we are, in fact, what we click, with Internet searches giving
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Looking for information about Brad Pitt or Beyonce on the Web? It could be risky. An internet security firm has dubbed the actor and singer the most dangerous celebrities to search for on the Internet because cybercriminals use their names to lure victims. California-based McAfee Inc. said fans searching for information and pictures of Pitt,
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By Emily Kaiser (Reuters) In one $85 billion fell swoop, the U.S. Federal Reserve may have wiped out what credibility it won resisting Lehman Brothers' rescue plea and opened its door to countless other companies to come calling for cash. By providing a massive loan to American International Group on Tuesday, just two days after
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Barclays Plc, which over the weekend balked at acquiring stricken Lehman Brothers Holdings Inc, agreed to pay about $1.75 billion (1 billion pounds) for some of the bank's prime U.S. assets following its bankruptcy filing. Most of the price tag was accounted for by Lehman's New York headquarters and two data centers, while the British
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