Pop star Michael Jackson was reportedly rushed to a hospital this afternoon, after collapsing at his home. Los Angeles Fire Department paramedics reportedly responded to a call at Jackson’s home at approximately 12:26 p.m. He was not breathing when they arrived, but someone at the home was in the process of administering CPR. The parademics [...]
AIG Announces Divestment of 2 Life Insurance Units to Reduce Debt to Federal Reserve Bank of New York by USD 25B, Units Positioned for IPOs IMF Sees Ireland’s Economy Contracting 13.5% Between 2008 and 2010, Irish Banks Likely to Face Losses of Up to EUR 35B Through 2010 BP Plc Appoints Ericsson CEO Carl-Henric Svanberg [...]
Has MySpace finally come to terms with the fact that its rival Facebook is more popular? MySpace, which is owned by News Corp., announced yesterday that it will close at least four offices outside the U.S., and will cut 300 international positions. This comes only a week after it said it would cut close to [...]
The U.S. breathed a sigh of relief yesterday when Moody’s maintained its Triple-A credit rating, calling it “safe”. This announcement came just a week after Standard & Poor’s statement that the U.S.’ top AAA credit rating is unlikely to come under pressure in the near term. Moody’s issued a stable outlook on the U.S. rating, [...]
Venezuela’s Government to Continue Reviewing Possibility of Permitting State Oil Company Petroleos de Venezuela SA (PDVSA) to Issue Bonds This Year Organization for Economic Cooperation and Development (OECD) Expects Combined Economies of Member States to Contract 4.1% in 2009, Up from March’s 4.3% Forecast Citigroup Inc To Raise Employees’ Base Salaries by as Much as [...]
In trading yesterday, the Dow Jones Industrial Average closed at 8339.01, down 200.72 points (2.35%) from the day’s start. Similarly, the Standard & Poor’s 500 Index slumped 2.6% to 893.04 points, following the first weekly decline in more than a month. Most of the indices’ decline is due to the World Bank announcement that it [...]
Since the start of the year, Apple Inc. shares have risen by more than 60%, and the company showed that it is still sizzling with the release of its new iPhone 3G S on Friday. Apple beat analysts estimates once again, reporting that it sold more than 1 million iPhones in its opening weekend, debuting [...]
Moody’s Investors Service Says US’ Aaa Debt Rating Remains Safe, Could be at Risk if Government Unable to Reign in Public Debt Euro Zone PMI Shows Manufacturing and Service Industries Rose to 44.4 in June from 44.0 in May, But Figure Below 50 Indicates Contraction in Activity Anglo American Plc Rejects Merger Offer from Rival [...]
World Bank Lowers World Economic Forecast, Says Global Economy to Shrink 2.9% this Year Versus its 1.7% Prediction in March Xstrata Plc Seeks GBP 41B (USD 68B) Merger with Rival Anglo American Plc German Business Confidence Climbs for Third Month in June, Rises to 85.9 from 84.3 in May European Central Bank Likely to Keep [...]
Luxury car maker, Porsche SE, is not looking as good as its cars right now, posting a 27.6% drop in sales, down to 53,635 cars in the nine months through to April 30, 2009. Porsche is also burdened by its high refinancing costs from Porsche’s EUR 9B purchase of over 50% of Volkswagen’s shares earlier [...]