May 24, 2012
Google did not breach Oracle patents, a court has found
Google did not infringe patents owned by software developer Oracle, a jury in a California court found on Wednesday. The Silicon Valley giants had fought over whether Google used Oracle's Java programming language in its Android mobile operating…
May 24, 2012
Facebook and banks behind flotation face lawsuit
Facebook, its founder Mark Zuckerberg and the banks leading its flotation are being sued by disgruntled shareholders. A writ, filed in a Manhattan court, alleges that Facebook's revised growth figures were not disclosed to all investors. US…
May 23, 2012
US ‘risks recession’ if tax rises and spending cuts hit
The US could fall off a "fiscal cliff" if tax rises and spending cuts due to take effect at the end of 2012 are not avoided, auditors have said. The US economy could go in to recession, shrinking at a rate of 1.3% in the first half of 2013, the…
May 23, 2012
World Bank: East Asia ‘vulnerable’ to eurozone crisis
The eurozone debt crisis could harm the growth of East Asian economies, the World Bank has warned. The bank said that a "serious disruption" in the eurozone could hurt growth and dent demand for exports from East Asia. It said that East Asian…
May 23, 2012
IMF tells UK to consider rate cut to boost growth
The International Monetary Fund (IMF) has said the UK's continuing economic weakness means authorities should consider more quantitative easing (QE) and even cutting interest rates. Its annual look at the UK economy endorsed the government's…
May 23, 2012
Google completes purchase of Motorola Mobility
Google's $12.5bn (£7.9bn) purchase of US phone maker Motorola Mobility has been completed days after it received approval from the Chinese government. Chinese authorities said Google must keep its mobile software, Android, free for other device…
May 23, 2012
Regulators to Look Into Facebook IPO as Share Price Drops
Massachusetts' state secretary — the state's top securities regulator — has subpoenaed investment firm Morgan Stanley over allegations it may have withheld information about the future revenue of Facebook. Shares in the world's most popular social…
May 22, 2012
Trinidad, OECS to talk CLICO
Prime Minister of St Kitts-Nevis Dr Denzil Douglas is hoping to meet with his Trinidad and Tobago counterpart next month to thrash out details of an agreement in relation to the CLICO debacle. Douglas said he and other leaders in the Organization…
May 22, 2012
Weak euro affects investments in China
While EU members are debating whether Greece will need to exit the eurozone or not, the impact of the weak euro has spread to Asian countries including China. People are starting to feel the volatility of forex markets both in investments as well…
May 22, 2012
Facebook shares close 11% below flotation price
Shares in Facebook closed well below the price at which they were floated amid doubts that the newly-listed company can live up to expectations. The shares debuted on the Nasdaq stock exchange at $38 each on Friday, but ended 11% down on Monday.…