French President Nicolas Sarkozy unveiled measures on Tuesday to protect jobs and warned companies against unjustified layoffs as evidence mounted that many workers would fall victim to the financial crisis. News of mass layoffs at household-name French companies from carmaker Renault to mail order retailer La Redoute has put pressure on Sarkozy to match his
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OPEC ministers will take further steps to prop up the oil market and could call another meeting before the group's next scheduled talks in December, officials said on Tuesday. In response to a nearly 60 percent fall in oil prices from a record of $147.27 hit in July, the Organization of the Petroleum Exporting Countries
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British retail sales fell less than expected in October and retailers are expecting a slowing in the pace of decline next month, a survey indicated on Tuesday. The Confederation of British Industry's distributive trades survey balance stayed unchanged at -27 in October. Analysts had predicted a deterioration to -35. The balance had fallen to -46
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The financial crisis is not over yet and international authorities need to be ready to act again if necessary, Bank of England Deputy Governor John Gieve said on Tuesday. "The package of measures introduced in the UK and elsewhere has improved the prospects significantly, especially for banks but it is too soon to declare the
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Google Inc, Microsoft Corp and Yahoo Inc are expected to announce on Tuesday that they have agreed to a common set of principals on how to do business in nations that restrict free speech and expression, the Wall Street Journal reported. The move by the Internet media and technology giants comes in the wake of
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Microsoft Corp took the wraps off a new computing service that allows companies to use its data centers to run their Web applications in a bid to become a player in the "cloud computing" trend. Ray Ozzie, Microsoft's chief software architect, said on Monday it will start previewing "Windows Azure," a platform that allows third-party
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An assembly of Catholic bishops on Monday called for the use of mass communications — including television, cinema, DVDs and even iPods — to be used to spread the Bible in as many languages as possible. The nod toward technology is not unusual: The Vatican had one of Europe's first Web sites, for example, and
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Moody's Investors Service has lowered the Pakistani government's bond ratings from B2 to B3 and kept the ratings on review for downgrade. In September, Moody's had moved the outlook from ‘stable’ to ‘negative’. "The rating action was prompted by the continuing erosion of the country's external liquidity position, which has remained inadequately addressed by policy
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Oil rose towards $64 on Tuesday, tracking a recovery in European and Asian stock markets as dealers returned to buy beaten-down shares. Traders were also watching closely for any evidence OPEC was implementing its decision last week to cut output. Officials from the Organization of the Petroleum Exporting Countries said they would consider further reductions
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A top Chinese copyright official chided Microsoft for launching an "anti-piracy" tool that causes screens of computers using counterfeit software to turn black and said the company's prices were too high. The U.S. software giant launched its "Windows Genuine Advantage" programme last week, prompting lawsuit threats and howls of indignation in China, where the vast
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