Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a $50 billion "Ponzi scheme" in what may rank among the biggest fraud cases ever. The former chairman of the Nasdaq Stock Market is best known as the founder of Bernard L. Madoff Investment Securities LLC,
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The U.S. Senate failed on Thursday night to reach a last-ditch compromise to bail out automakers, effectively killing any chance of congressional action this year. The $14 billion legislation officially died in the Senate late on Thursday after supporters failed to get enough support in a procedural vote. Republican-brokered talks faltered, leaving the chamber at
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Asian stocks plunged more than 5 percent on Friday after a collapse in the U.S. carmaker bailout jeopardised the industry, sending investors fleeing to the safety of government bonds and the yen, which shot to a 13-year high. The suddenness of the move in the yen, which pushed the U.S. dollar below the sensitive level
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The dollar hit a 13-year low against the yen on Friday after the U.S. Senate failed to agree on a bailout for U.S. automakers. The U.S. Senate failed on Thursday night to reach a last-ditch compromise to bail out U.S. automakers, effectively killing any chance of congressional action this year. The $14 billion legislation officially
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The trade deficit based on provisional figures for October widened by almost EUR 1 bln in the first ten months of the year. Total imports reached EUR 615.7 mln, of which EUR 441.0 mln were arrivals from the EU and EUR 174.7 mln imports from third countries. Total exports reached EUR 88.3 mln, of which
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The Statistical Service has announced the publication of the annual report, Economic Statistics on Other Social and Personal Service Activities, for the year 2006. The report provides data on the number of establishments, employment, labour costs and other expenses, gross output, value added and data for the expenditure on fixed assets. The main developments were
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The growth of motor vehicle registrations in Cyprus slowed to 4.5% in the first 11 months of the year, from 6.4% in the first ten months, as registrations in November dropped by 15.8% compared with November 2007. The total number of registrations reached 63,784 in January – November 2008, compared with 61,041 in January –
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Ericsson said it is collaborating with Intel to ensure that Ericsson's Mobile Broadband Modules are interoperable with Intel Anti-Theft PC Protection Technology for notebooks. The collaboration addresses solutions to minimize the negative consequences when notebooks are lost or stolen, and in conjunction independent encryption software when sensitive data is lost while on-the-go and to prevent
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A widespread cholera outbreak, under-resourced and under-staffed health system, and inadequate access to safe drinking water and hygiene is threatening the wellbeing of thousands of Zimbabweans. As of December 9, more than 16,000 suspected cases of cholera, and 775 resultant deaths (case fatality rate of 4.8%), had been recorded since August in two-thirds of the
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Oil rose towards $46 on Thursday after the International Energy Agency predicted global growth in oil demand would resume in 2009 and the Saudi oil minister said OPEC's top exporter pumped less oil than expected last month. World oil demand growth would return in 2009 after shrinking this year for the first time since 1983,
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