January 19, 2012
Sony Ericsson reports fourth quarter loss
Mobile phone company Sony Ericsson has reported a fourth quarter loss, citing tough competition and the global economic slowdown for the deficit. The firm - which is soon to be fully taken over by Sony - posted a net loss of 207m euros ($267m;…
January 19, 2012
Goldman Sachs cuts pay and bonuses as profits halve
US banking giant Goldman Sachs has cut its pay and bonus payments during 2011 - to $12.2bn (£7.4bn). It said its total compensation - including staff bonuses - was down 21% from 2010. The bank also said that its quarterly profits had more than…
January 19, 2012
IMF seeking $500bn funding boost
The International Monetary Fund (IMF) has said it will seek to increase its resources by $500bn (£325bn) to help stabilise the global economy. The extra money could be used to help countries in the eurozone struggling to pay their debts. But the…
January 19, 2012
Pakistan PM Gilani stands firm in contempt battle
Pakistani Prime Minister Yousuf Raza Gilani has appeared before the country's Supreme Court in contempt proceedings, to defend his record. The court initiated the hearing over Mr Gilani's refusal to ask Swiss officials to reopen a corruption case…
January 19, 2012
Decision looms on ending Concordia rescue operations
Rescuers resumed work aboard of the wreck of the cruise liner Costa Concordia on Thursday, the Italian navy said, as a decision loomed about when and if to call off the search for survivors. Authorities are considering when to change the operation…
January 19, 2012
China Says US Sanctions on Iran ‘Ineffective’
China expressed concern Thursday over rising tensions in the Persian Gulf, saying the situation could pose problems for resolving Iran's nuclear issues. Speaking at a regular news briefing in Beijing, foreign ministry spokesperson Liu Weimin said…
January 19, 2012
Iran Says US Should Be Willing to Talk Without Conditions
Iran says the United States should make it clear that it is ready to hold talks without conditions, and urged other countries in the Middle East to not put themselves in a “dangerous position.” Iranian Foreign Minister Ali Akbar Salehi made the…
January 19, 2012
Maritime Monitor Says Somali Pirates Remain Biggest Threat
International piracy monitors say the number of overall attacks dropped slightly last year, and that Somali pirates remain the greatest threat. The International Maritime Bureau said Thursday it recorded 439 pirate attacks in 2011, down from 445…
January 17, 2012
Golden Globes: Ricky Gervais ‘subdued’, say critics
A "respectful and restrained" Ricky Gervais lacked the bite of last year as the host of a lacklustre Golden Globes ceremony, reviewers have concluded. The Los Angeles Times said he was "surprisingly subdued". The Hollywood Reporter said it was…
January 17, 2012
Fisher’s late 3 pushes Lakers past Mavericks 73-70
Derek Fisher spent the last year wearing more suits than sweats while negotiating the union's labor deal, and he realizes his peak playing days are probably past. But Kobe Bryant borrows a term from former coach Phil Jackson to…