Business and Finance News

Morgan Stanley sheds jobs in economic shakeout
Abu Dhabi News.Net
It has been reported that Morgan Stanley cut 1,500 jobs last week as part of a process to cut 5 percent of employees across almost every business, excluding the retail brokerage division.
Housing market gets some positive news
Abu Dhabi News.Net
There has been a slight ray of hope in the troubled US housing market with starts and permits showing a surprisingly strong jump in April.
Oil price soars on the back of natural disaster
Abu Dhabi News.Net
Goldman Sachs says crude oil has hit record new prices following the Chinese earthquake.
New fuel limits for Indonesian motorists
Abu Dhabi News.Net
Limits have been set on subsidised fuel purchases in Indonesia.
New Pentagon contact let to Lockheed
Abu Dhabi News.Net
A US government contract has gone to the Lockheed Martin to start building a new generation of global positioning satellites.
Ecuador offers new deal for oil companies
Abu Dhabi News.Net
President Rafael Correa of Ecuador says his country wants to buy out private oil companies who are unwilling to negotiate new deals.
Chinese earthquake forces insurers to consider more cover
Abu Dhabi News.Net
The Chinese earthquake is forcing the nation's insurance industry to bring itself up to date.
Ukraine welcomed into WTO fold
Abu Dhabi News.Net
Ukraine has become the 152nd member of the World Trade Organisation.
Department stores show weak earnings
Abu Dhabi News.Net
The weak US economy has caused some department stores to report lower profits.
Former Hewlett-Packard chief pitches hard for McCain
Chicago Tribune
Former Hewlett-Packard CEO Carly Fiorina has emerged as a leading surrogate for presumptive GOP presidential nominee John McCain, peddling among other wares, a disingenuous argument for corporate tax...
NASA to Test Space-Time Fabric
Wired News
A satellite designed to test two fundamental predictions made by Albert Einstein about the universe is ready for launch, 45 years after it was first proposed, NASA and Stanford...
Weak Dollar Hits Business At Cannes Festival
Sky News
The action on-screen at Cannes may be hot but business in the film festival resort is distinctly cool because a sickly dollar is putting the brakes on spending by Hollywood executives.
BAE bosses detained at US airport
BBC
Two executives of defence company BAE Systems have been briefly detained when they landed in the US on business. Chief executive Mike Turner and an unnamed senior colleague were spoken to when...
New rules aimed at making it easier to buy train tickets have come into force.
Sky News
New fares structure They mean that passengers have to choose from only three ticket types when planning their journey.Out go fares like Leisure Advance, Business Advance, Value Advance and Apex -...
Microsoft tries to buck trend by staying on top
International Herald Tribune
SAN JOSE, California : Mathematicians have long tried, and failed, to solve the Riemann Hypothesis, a stubbornly unyielding math problem. Good luck to whoever tries to figure it out. For the first...
Anil Ambani group firm forays into Hollywood
Times Of India
Anil Ambani group firm Reliance Big Entertainment on Sunday made its foray into Hollywood, with the announcement of development deals with celebrities including Angelina Jolie, Julia...
Deutsche CEO says end of credit crisis near
Reuters
The end of the credit crisis is getting closer and the U.S. real estate market should recover in the second half of the year, Deutsche Bank...
New rail ticket system launched
BBC
Rail passengers pre-booking their trip will now be issued with an "advance ticket" as the first phase of a new ticketing system comes into operation. The ticket replaces discounted offers such as...
Union rejects American Airlines offer
Herald Sun
Negotiators for union mechanics and bag handlers at American Airlines have rejected a contract proposal from American Airlines that called for lump-sum payments instead of wage increases.
Canadian union accepts Chrysler deal
Times Of India
Canadian Auto Workers union members voted in favor of a three-year labor agreement with Chrysler, the union said on Saturday. The accord, based on a deal ratified with Ford Canada...
Era of cheap Chinese goods threatened by new worker power
Times Of India
HONG KONG: Migrant workers, for years the backbone of China's export miracle, are discovering their economic muscle, threatening an end to the flood of cheap goods heading west, the author of a new...
EU plans farming shake up to lift output
Times Of India
The European Commission will unveil on Tuesday a proposed shake-up of the EU's common agriculture policy to lift output in the face of a food crisis, with Britain and France gearing up...
Worst may be over for US
Times Of India
A growing number of analysts are expressing confidence that the worst may be over for the US economy, even if it struggles for some time due to weak housing, tight credit and high...

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