The Pentagon said on Thursday it would expect hundreds of thousands of layoffs across the defense industry if lawmakers did not take action to avert an additional $500 billion in defense budget cuts that could take effect in January 2013.
ExxonMobil (NYSE: XOM), the largest U.S. and global producer of oil has been dethroned from its top spot.
The U.S. government now projects that the total cost to develop, buy and operate the Lockheed Martin Corp F-35 Joint Strike Fighter will be $1.45 trillion over the next 50-plus years, according to a Pentagon document obtained by Reuters.
Australian Prime Minister Julia Gillard backed a ban on Chinese telecoms firm Huawei from tendering for major government contracts on Thursday after Beijing raised concerns about fair treatment for Chinese firms.
Asian shares eased for a second day in a row Thursday, as investors limited their risk exposures on concerns about growth prospects in the world's two largest economies, the United States and China.
The new iPad is garnering success for Apple, but the little beauty is also plaguing the company with legal woes that won't just end here. Apple has launched the new iPad in Australia with a plethora of advertisements showing off the awesome features of the one tablet to rule them all. Unfortunately, the Australian Competition and Consumer Commission (ACCC) is not pleased, not one bit.
Less than four years ago, American Internet security firm Symantec struck a deal with Chinese infrastructure equipment manufacturer Huawei Technologies, joining forces to develop computer network security products. However, in the wake of increasing cyber security concerns piling up against Huawei, Symantec decided to exit the venture, fearing that it would prevent it from gaining access to U.S. government classified information regarding cyber threats.
Now that Apple is allowing Australian customers to refund their iPads, other countries want to know if their customers should deserve refunds too. The UK, Sweden and Denmark are now all investigating the compatibility of the new iPad 3 with local 4G LTE networks.
The insurance market listed the litany of disasters in its annual report, which included claims from flooding in Australia in January, the February earthquake in New Zealand, the Japanese earthquake and tsunami in March and the floods in Thailand.
Stock index futures pointed to a flat open on Wednesday, cutting earlier gains after a weaker-than-expected reading on durable goods orders.
Stock index futures rose on Wednesday as several governments, including the United States, considered releasing oil reserves to ease high prices.
Stock index futures rose on Wednesday with large-cap shares looking to pierce 52-week highs, but the major indexes were not seen making big moves before the end of the quarter.
Apple Inc will email all buyers of its new iPad in Australia to offer them a refund, a lawyer for the company said on Wednesday, after the nation's consumer watchdog accused it of misleading advertising over one key aspect of the product.
An Australian newspaper accused News Corp of sabotaging the Pay- TV rivals by selling pirated smartcards, causing loss of millions of dollars to the rival channels.
Rio Tinto PLC said Tuesday it is mulling ways to sell off its diamond operations, as the world's third-largest mining company tries to divest mines it says may no longer fit its growth strategy.
Huawei, China's largest equipment manufacturer, has just lost a shot at billions of dollars worth of infrastructure sales to Australia. In light of China's reputation for cyber-espionage, the Australian government has decided to block Huawei from bidding on Australia's roughly AUS$36 billion National Broadband Network project. The decision was reported on March 26.
Australia's competition regulator is on the crackdown against Apple's new iPad, claiming the tablet misleads customers with its '4G LTE' label -- a feature that is not supported by Australia's 3G broadband frequency.
China's Huawei Technologies still hopes to win contracts to build Australia's $38 billion National Broadband Network, despite being blocked from bidding on cyber security concerns, and is ready to make concessions to do so.
Workers at BHP Billiton's seven Bowen Basin coal mines in Australia will go on strike beginning Tuesday night following unproductive negotiations over work conditions with the company, the workers' union said.
An Australian court ruled in favor of global miner Xstrata on Tuesday in a case which sought to halt the company's plans to build the country's largest coal mine on the grounds that it would contribute to climate change.
Most of the world is interconnected thanks to email and social networking sites such as Facebook and Twitter, according to a new poll released on Tuesday.
Apple's hot-selling new iPad hit a hurdle in Australia on Tuesday as the country's consumer affairs regulator accused the company of misleading promotions.
