Asian shares rose on Friday following record rate cuts by central banks in Europe, though risk aversion remained, lifting the dollar ahead of what is expected to be dismal U.S. employment data. Oil prices steadied after slumping $3 on Thursday to their lowest level in nearly four years amid bleak economic data that could spell
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A slew of sharp interest rate cuts on Thursday showed the world's central banks have redoubled their willingness to ease policy as far as it takes in their ongoing battle with the worst financial crisis in 80 years. Some were raising rates only months ago but have undergone a rapid conversion as the global financial
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British entrepreneur Theo Paphitis said on Thursday he had pulled out of the running to buy Woolworths' sweets-to-DVDs retail business, but talks between the administrators, Deloitte, and other suitors are continuing. "It is with disappointment that I confirm that we could not reach a deal," Paphitis, famous for his role on BBC Television's Dragons' Den,
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Cyprus said on Thursday it would press ahead with plans to open the Mediterranean for oil exploration despite objections from its northern neighbour Turkey and estranged Turkish Cypriots. In a growing dispute which risks undermining peace talks on the ethnically divided island, Greek Cypriots said they would continue offshore research, and that they may extend
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The European Court of Human Rights (ECHR) has dismissed a demand on behalf of Turkey to reexamine its decision in the case of Demades v. Turkey, issued in April 2008, and has called on Ankara to pay 830,000 euros to the applicant for compensation plus interest, as well as 5,000 euros for court expenses, rendering
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The European Central Bank cut interest rates by 75 basis points on Thursday, its biggest ever move as inflation plummets and the euro zone economy sinks deeper into recession. The move takes the ECB's main refinancing rate to 2.50 percent, its lowest in nearly 2-1/2 years and marks the third cut in barely two months
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Growth in the global smartphone market slowed to 11.5 percent in the third quarter year on year, the slowest rate of growth since it started tracking smartphone sales, research firm Gartner said on Thursday. Some 36.5 million smartphones, or handsets with computer-like features such as email, were sold globally in the July-September quarter, Gartner said
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A new crop of video games is encouraging fans to ignore their parents' advice and play with their food. Fans slice, dice and feel the heat of the kitchen with a new crop of foodie games that includes Atari's "What's Cooking? With Jamie Oliver," Majesco's "Cooking Mama World Kitchen," Ubisoft's "Hell's Kitchen: The Video Game"
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Stock futures pointed to a broadly unchanged start on Wall Street on Thursday, breaking a two-day rally. Futures for the S&P 500, the Dow Jones industrial average and Nasdaq were virtually flat at 4:49 a.m. EST. Highlights: * Companies reporting earnings on Thursday include Novell Inc, Jackson Hewitt Tax Service Inc and Williams-Sonoma Inc. *
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Falling investment and a weaker trade performance made the euro zone economy contract in the third quarter, data showed, confirming the bloc's first recession as the European Central Bank meets to discuss the size of a rate cut. The European Union's statistics office, Eurostat, confirmed its earlier estimate that the economy of the 15 countries
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