Fears of global recession and a flight from emerging markets overshadowed signs on Wednesday that government attempts to end the gravest financial crisis in 80 years may be bearing fruit. Stocks from London to Tokyo fell sharply on worries about the wider impact of the crisis which pushed the global financial system to the brink
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Britain's FTSE 100 slid 2.9 percent by midday on Wednesday, as recession fears hit heavyweight commodity stocks and banks, with investors worrying about metal demand and more soured loans. By 1029 GMT, the FTSE 100 was down 122.47 points at 4,107.26, after losing 1.2 percent on Tuesday to snap a two-session recovery run. The UK
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Google Inc Chief Executive Eric Schmidt said on Tuesday the company had agreed to keep talking with the U.S. Justice Department about its proposed online advertising deal with Yahoo Inc. Under the deal announced in June, Yahoo would turn over some of its online advertising space for Google to sell. Schmidt had said in August
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EBay Inc will institute a global ban on the sale of all ivory products via its online auction site by January 1, after a conservation group found over 4,000 illegal elephant ivory listings by sellers. African and Asian elephants are protected under the U.S. Endangered Species Act and the international Convention on the International Trade
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Chinese Internet users have expressed fury at Microsoft's launch of an anti-piracy tool targeting Chinese computer users to ensure they buy genuine software. The "Windows Genuine Advantage" program, which turns the user's screen black if the installed software fails a validation test, is Microsoft's latest weapon in its war on piracy in China, where the
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Oil fell below $70 a barrel on Wednesday, pressured by a gloomy outlook for the global economy that could limit the impact of any supply cuts OPEC might agree at a meeting on Friday. Falls in Asian and European stock markets, plus the U.S. dollar's rise to a 2-year high against a basket of currencies
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Moody's Investors Service said in two separate reports that the measures announced by Switzerland to support its largest banks will not endanger the creditworthiness of the Swiss government nor will they lead to wholesale rating changes in the Swiss banking sector. Last Thursday, the Swiss government announced a range of measures aimed at strengthening individual
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PHC Franchised Restaurants Public Ltd (PHC.CY) announced that it has established a subsidiary under the name Colonell Ltd., which in turn has established a subsidiary in Greece, named Positive Eating SA (with a stake of 99% and Lysandros Ioannou 1%), for the expansion of its activities in Greece with the opening of a Wagamama restaurant.
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Yahoo Inc posted a sharply lower quarterly profit on nearly flat sales, but its shares rose 8 percent on the Internet media company's plan to cut at least 10 percent of its work force to save costs. Yahoo, the leading provider of online display advertising, said it planned to cut at least another 10 percent
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By Tom Brown (Reuters) Long before she filed for bankruptcy, Ann Neukomm was "under water" — she owed more on her mortgage than her house was worth — a situation more and more Americans are finding themselves in. As the financial crisis hits Main Street America, nearly one in six U.S. homeowners are finding themselves
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