Microsoft Corp is set to overhaul management of its division focused on mobile phones, videogames and other consumer devices, the Wall Street Journal said on Monday, citing people familiar with the matter. The world's largest software maker, which has been brushed aside by Apple Inc's iPhone and Google Inc's Android operating system in the fast-growing
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Yahoo Inc and Nokia Oyj said they would team up to boost their mobile Internet offerings, seeking to regain market share lost to rivals like Apple Inc and Google Inc. Starting in the second half of this year, Yahoo will host Nokia's Ovi email on phones exclusively and Nokia in turn will provide maps and
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Shareholders have sued the board of BP Plc (BP.L) for failing to monitor safety and exposing the company to potentially enormous liability related to the Deepwater spill disaster in the Gulf of Mexico, according to court documents. A month ago a rig exploded in the Gulf of Mexico, killing 11 workers and sending heavy oil
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. The supply-demand imbalance remains a key driver of the continued negative outlook for the property industry in the Arabian Gulf, Moody's Investors Service said in a new Industry Outlook. "The supply-demand imbalance in commercial property and to some degree in residential units, depending on the city or country, is likely to grow worse as
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Around three-quarters of the damage inflicted on the Gaza Strip by Israeli armed forces during its “Operation Cast Lead” last year remains unrepaired and unreconstructed, according to a United Nations report. The ‘One Year After’ report produced by the United Nations Development Programme (UNDP) in partnership with the Gaza-based Engineering and Management Consulting Center, notes
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Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Commercial Bank of Kuwait (CBK) to D+ from C-, and downgraded CBK's long-term global local currency (GLC) and foreign currency deposit ratings to A2 from A1. The bank's short-term GLC and foreign currency deposit ratings remain at Prime-1. The bank's BFSR carries a
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The IMF's chief economist warned on Monday that markets will remain concerned until doubts over the European Union delivering on its aid promise to the Greek government and Greece's debt-payment history are resolved. "The markets are wondering if Greece will be able to repay its debt or not," Olivier Blanchard said in an interview to
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Sales of previously owned U.S. homes touched a five-month high in April amid a late rush to take advantage of a homebuyer tax credit, but a jump in houses on the market pointed to a slow recovery. While analysts generally expect a lull in homebuying over the next few months, they stressed that a strengthening
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Asian stocks fell to multi-month lows and the euro slipped on Tuesday on fears that Europe's sovereign debt woes will trigger a renewed crisis in the continent's banking sector. Europe's fumbling response to a Greek debt crisis and bulging deficits in other euro zone countries have unnerved markets over the past six weeks, and the
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The fall-out from the Greek debt crisis could push down European auto sales for the rest of the year, though they have been better than expected so far in 2010, Renault <RENA.PA> Chief Executive Carlos Ghosn told the Wall Street Journal. U.S. auto sales, on the other hand, would likely rise 15 percent this year
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