Federal Reserve Chairman Ben Bernanke said U.S. inflation expectations were stable despite price swings in the past few years and signaled the Fed saw no need to change its current price commitment. Bank of Japan Governor Masaaki Shirakawa also warned of the danger of focusing too much on short-term price moves in policy decisions, underscoring
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Dell Inc said its Streak tablet computer can double as a mobile phone and will have a front-facing camera for videoconferencing — features it hopes will help the new gadget compete against Apple Inc's iPad. The five-inch tablet will debut in Britain next month through mobile carrier O2, a unit of Spain's Telefonica, and Carphone
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Bank of Cyprus Group (BOCY) reported net after tax profit of EUR 81 mln for the first quarter of 2010, easily beating and surpassing analyst forecasts of EUR 69-71 mln. At the same time there was a positive contribution to profit from all the markets in which the Group operates. Net interest income recorded an
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The electronic communications sector in Cyprus has not yet grasped the full potential of a liberalised market, a European Commission report on telecoms communications says. According to the report, the incumbent operator, 100% state-owned, maintains a very strong presence on the fixed, broadband, and mobile markets. Broadband penetration in the country reached 22.2% in January
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The euro slid on Wednesday, with trade driven by fears that Europe's debt woes can wreak havoc in its banking system, though Asian stocks edged up from nine-month lows as value investors hunted for bargains. Increasingly difficult financing conditions in the euro zone, tightening U.S. banking regulation and escalating tensions on the Korean peninsula have
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Greece's Finance Ministry launched a tax evasion crackdown on itself on Tuesday to investigate hundreds of staff in response to a public outcry over corruption in the crisis-hit country. Greeks, at the epicenter of fears over European debt, have been hit hard by austerity measures meant to pull the economy out of recession and opinion
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U.S. Treasury Secretary Timothy Geithner flew to Europe on Wednesday to press for united action to tackle a deepening debt crisis that has rekindled fears of a return to recession and sent global stocks tumbling. Asian equity markets rallied from nine-month lows but the euro remained under pressure with sentiment downbeat as costs for banks
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Consumer confidence rose to its highest since March 2008, data showed on Tuesday, defying for now the growing fears about European debt market turmoil and threats to global growth. Improving sentiment about the battered labor market was key to consumers recovering their nerve, as the Conference Board's report said fewer of those surveyed found jobs
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Single-family home prices were unchanged in March from February, but fell in the first quarter under renewed pressure before federal aid for buyers faded away, Standard & Poor's/Case Shiller home price indexes showed on Tuesday. Prices have rebounded from lows hit during the crisis, yet the end of tax incentives for home buyers, combined with
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Stocks tumbled about 2 percent on Tuesday, tracking a sell-off in global equities, on worries over Europe's banking sector and as short-term funding costs soared. European markets were on edge after three-month dollar Libor rates rose to their highest level since July as banks became more wary of lending to European institutions after the Spanish
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