Apple Inc said on Tuesday that Chief Executive Steve Jobs will not deliver the keynote address at the Macworld trade show next month, reviving some investors' concerns about the state of his health and sending the company's shares down 3 percent. Apple also said 2009 will be the last year it exhibits at Macworld, claiming
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The U.S. Federal Reserve on Tuesday broke into uncharted territory as it chopped benchmark interest rates to as low as zero and pledged to use "all available tools" to turn back a deepening recession. In a surprise and historic move, the Fed lowered its target for the interbank federal funds rate to a range of
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By Parisa Hafezi Habib Mostofi is one of thousands of Iranians who believed buying property in Dubai would be safer than Iran, isolated by the West over its disputed nuclear plans. But that was before the emirate's property bubble burst. "I invested all my family savings in property in Dubai. I thought it was near
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A dramatic rate cut by the U.S. Federal Reserve has ratcheted up the pressure on a reluctant Bank of Japan to follow suit this week, with analysts saying to hold back would rock Japanese markets and worsen the crisis. Some analysts suggested the Japanese central bank could also cut rates to almost zero on Friday,
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OPEC oil ministers meet on Wednesday to remove a record 2 million barrels per day from oil markets as they race to balance supply with the world's collapsing demand for fuel. The 12 members of the Organization of the Petroleum Exporting Countries are also aiming to build a floor under prices that have dropped more
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The U.S. dollar dropped to an 11-week low and government bonds rose on Wednesday after the Federal Reserve slashed rates, paving the way for Asian policymakers to take more aggressive steps to support growth. Regional stocks rose, supported by sectors sensitive to interest rates but shares of car manufacturers were under fire as hopes of
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Greek Prime Minister Costas Karamanlis pledged on Tuesday to tackle corruption after 11 days of violence triggered by the police killing of a teenager and fuelled by public anger at scandals and a slowing economy. About 100 youths attacked a police station in Athens, setting fire to a bus and four cars belonging to officers.
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The U.S. Federal Reserve is expected to lower interest rates closer to zero on Tuesday and point toward emergency tools it could deploy to end a year-long recession, with room to cut borrowing costs running out. Economists expect the central bank to lower its target for benchmark overnight rates by at least a half-percentage point,
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The U.S. Fed looked set to halve interest rates on Tuesday and bring them closer to zero, while Japan weighed steps to ease funding when borrowing costs have been cut to the bone. Central bankers return to centre stage in a week that started grimly, with a rescue plan for U.S. carmakers stuck in limbo,
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European shares gained in early trade on Tuesday after the Euro zone PMI deteriorated less than expected in December, with defensive stocks leading the risers, while financials fell. By 0950 GMT, the pan-European FTSEurofirst 300 index of top European shares was up 0.7 percent at 832.83 points, having traded as low as 822.33 points earlier.
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