Microsoft Corp reported better than expected quarterly profit and reduced its outlook less than many investors had feared in the face of tough economic conditions. While demand for its products softened near the end of the September quarter as uncertainty from financial crisis took hold, Microsoft said new releases of computer server software and database software
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A Bear Stearns mortgage portfolio backed by the U.S. government racked up $2.7 billion of losses in the third quarter, amounting to a 9 percent decline on about $30 billion of assets, the Federal Reserve said Thursday. Roughly $2 billion of those losses will be borne by the U.S. taxpayer. As of the end of
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Troubled insurer American International Group Inc (AIG.N) had borrowed $90.3 billion from the U.S. government as of Wednesday, three-quarters of the emergency funds made available to it under a federal rescue plan, the Wall Street Journal reported. AIG, once the world's largest insurer before it was hammered by bad bets on mortgages, borrowed a further
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Five centuries after Leonardo da Vinci's intricate drawings transformed understanding of the human heart, a new computer model promises to do the same for modern-day cardiac care, experts say. The model — so realistic its four chambers beat in the same asymmetrical rhythm on screen as does a real heart in the human body —
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Global stocks tumbled to a new five-year low on Friday and demand for the relative safety of government bonds and low-yielding currencies soared as economic decline and corporate damage continued to grip investors. MSCI's all-country world index was down 2.8 percent after earlier hitting a level not seen since August 2003. The dollar hit a
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European governments are coming under pressure to prop up the job market, as they have the financial sector, to prevent a dramatic rise in unemployment. According to the latest data from Eurostat, unemployment in the 15-country eurozone stood at 7.5 percent in August, up from 7.4 in July, while the overall figure for the 27
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The Athens Stock Exchange and the Cyprus Stock Exchange in cooperation with the FTSE group announced the introduction of a new index named ‘FTSE/ATHEX-CSE Banking Index’, which will capture the performance of the banking stocks listed in both bourses. The new Index will be launched on 3 November 2008 with the starting price being set
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Demetra Investments Plc (DEM.CY) increased its participation in the share capital of Logicom (LOG.CY) by 0.007% to 5.547%.
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If money makes the world go round, corporate leaders must feel like their heads are spinning. Simultaneously facing a credit crisis, a global collapse in demand and plunging stock prices, U.S. multinationals must also manage through the most volatile foreign exchange environment in a generation. Partway through the earnings reporting season, scores of companies have
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Electronics makers Sony and Samsung provided new evidence that the global financial crisis is feeding through to businesses and consumers with gloomy earnings forecasts sending Asian stocks sharply lower. Shares in Japan fell to their lowest in 5-½ years as the stronger yen, which this week has risen the most against the U.S. dollar in
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