January 8, 2012
Eurozone unemployment stays at record high
Unemployment in the eurozone stayed at a record high in November as the impact of the sovereign debt crisis rumbled on, according to official figures. The jobless rate in the 17 nations that use the euro was 10.3% in November for the second month…
January 8, 2012
IMF chief qualifies negative global outlook
The International Monetary Fund chief has said that it will downgrade predictions for global economic growth to lower than 4.0% later this month, due to the effects of a widening Eurozone crisis. At a news conference in Pretoria, South Africa,…
January 8, 2012
Yahoo CEO scores $26 million pay package
Yahoo's new CEO is poised to score a rich payday for taking on the troubled company. He's eligible for up to $26 million this year in salary, stock and bonuses. Scott Thompson, formerly the president of PayPal, was appointed Yahoo CEO on Wednesday…
January 8, 2012
IRS comes up $385 billion short
Close to 15% of federal taxes -- or $385 billion -- went unpaid in 2006, according to new estimates by the IRS. That's the net tax gap number -- meaning what didn't get paid even after the $65 billion the IRS managed to collect through audits. And…
January 6, 2012
Apple to launch iPhone 4S in the TCI & other International Countries
The iPhone 4S is set to launch in China and 21 additional countries across the world on Friday, January 13, as Apple continues the rapid international roll-out of its latest smartphone. Apple announced the forthcoming debut of the iPhone 4S in…
January 6, 2012
Samsung expects bumper profits on smartphone sales gain
Samsung Electronics has said it expects to report a big jump in profits for the final three months of last year, thanks largely to record smartphone sales. The South Korean firm said it expects operating profits for the period to be 5.2tn won…
January 6, 2012
Stocks flat after day of big gains
Stock indices were flat Wednesday after a big gain to open the trading year. Specialty stores such as Bed Bath & Beyond rose after a report that mall shopping was strong in the days after Christmas. Bank stocks, health-care companies and…
January 6, 2012
Swiss National Bank head says he has not broken law
The chairman of the Swiss National Bank (SNB), Philip Hildebrand, has denied any "legal breaches" resulting from his wife's currency trades. He said he would not resign as a result of the claims. Kashya Hildebrand bought $504,000 (£323,024) in…
January 6, 2012
Former Olympus boss ends takeover bid for camera firm
The ousted boss of Olympus has given up on his attempts to regain control of the Japanese camera and medical equipment maker. Michael Woodford was fired after highlighting accounting irregularities that sparked a police probe and stock-price slump.…
January 5, 2012
Greek prime minister warns of March default
Greek Prime Minister Lucas Papademos has said Greece may default on its debts in March unless unions accept further cuts to salaries. Mr Papademos said more cuts were needed to avoid exiting the eurozone. Analysts say the warning is to prepare…