Verizon Communications Inc has chosen Microsoft Corp to provide Internet search services for cell phones, in what is seen as a blow to rivals Google Inc and Yahoo Inc. Verizon Chief Executive Ivan Seidenberg said on Wednesday that Microsoft CEO Steve Ballmer would announce the deal later in the day at the Consumer Electronics Show
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The world's top mobile phone maker Nokia said on Thursday it had ended production of its only mobile device using the U.S.-centered WiMax technology, another blow for the struggling wireless technology. WiMax has been competing for the status of next generation mobile technology, but has largely lost the battle to Long-Term Evolution (LTE). "We have
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Cyprus’ two cement producers, Vassiliko Cement Works Plc (VCW.CY) and the Cyprus Cement Company Plc (CCC.CY), which successfully merged their operations last year into a single entity announced their decision to increase the price of cement by up to 15% as of 19 January 2009. The two cement producers have kept prices stable since April
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A total of eight thousand five hundred sixteen Nicosia residents participated in the municipal referendum to decide the fate of the capital’s old stadium, GSP. As it was noted during a press conference, given the fact that this is the first municipal referendum ever organized in Cyprus, participation to it has been very satisfying. Nicosia
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The Bank of England looks set to chop interest rates by at least half a percentage point on Thursday to an all-time low as it continues its battle to keep the British economy from falling into a deep and lasting downturn. With economic recession a foregone conclusion, financial markets are almost evenly split between pricing
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U.S. President-elect Barack Obama will call for quick action on a fiscal stimulus package in a speech on Thursday aimed at reassuring Americans that he is determined to stem the economic crisis. Obama will deliver his remarks at George Mason University in Fairfax, Virginia, at 11 a.m. (1600 GMT). As he prepares to take over
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It took war, the worst financial crisis since the Great Depression and the collapse of some of New York's famed investment banks, but Manhattan apartment prices are finally falling. After months of looking at half-million-dollar apartments the size of a walk-in closet back home in Pennsylvania, Michael Germano noticed prices suddenly became negotiable and brokers
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The global economic crisis has made fears of unemployment the No. 1 concern, surpassing worries about poverty, social inequality, crime and violence, a 22-nation survey showed on Thursday. Some 41 percent of people said joblessness was their biggest worry, a 13-percentage point jump from a year ago, when unemployment was No. 4, according to the
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Asian stocks and emerging market currencies fell on Thursday, after dire U.S. private employment data and fears about corporate earnings cooled investor willingness to take risks for higher returns. Major European stocks markets were expected to fall as much as 1.2 percent, according to financial bookmakers, following a 3 percent drop in U.S. stocks overnight.
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Global job woes deepened on Wednesday as Germany reported its first rise in unemployment in almost three years and a U.S. labour survey pointed to bigger-than-expected losses for December. British retailer Marks & Spencer said it too would have to let workers go, a day after U.S. aluminium giant Alcoa announced weakened global demand would
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