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Olympus Ex-CEO Woodford Campaigns to Oust Board

The former chief executive of Japan's disgraced Olympus Corp, Michael Woodford, launched a campaign on Thursday to oust the board of directors, reclaim his old job and install his own team to save the firm from a big accounting scandal.

Olympus whistleblower Woodford quits board

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The whistleblower in the accounting scandal engulfing Japan's Olympus Corp, ex-CEO Michael Woodford, quit the firm's board of directors on Thursday and called for an urgent shareholder meeting to replace its disgraced top brass.
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Central banks act as euro zone crisis rages

The world's major central banks acted jointly on Wednesday to provide cheaper dollar funding to European banks facing a credit crunch as the euro zone's debt crisis drove EU ministers to urge more IMF help to avert financial disaster.
Gay Pride South Africa

Nigeria Seeks to Criminalize Homosexuality

Same-sex marriages and homosexual activities were officially banned by the senate in Nigeria on Tuesday, placing criminal penalties of up to 14 years in prison on same-sex relationships.
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Online retail in Russia stifled by infrastructure: PwC

Russian online shopping growth is being held back by poor infrastructure and slow delivery times, accountants PWC said on Wednesday, forcing retailers to spend more before they reap any benefit of rising Internet use.
U.S. Stock Market

U.S. Stocks Soar on Action by Central Banks

U.S. stocks rose more than 3 percent on Wednesday as major central banks acted jointly to add liquidity to the global financial system, boosting appetite for risky assets.
Teenager Beaten for Suspected Smoking

Obama Administration Appeals Cigarette Warning Ruling

The Obama administration on Tuesday appealed a U.S. judge's ruling and injunction that blocked tobacco companies from having to display graphic images on cigarette packs and advertising, such as a man exhaling smoke through a hole in his throat.
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Wall Street set for big gains after central banks act

Stocks were set to gain more than 2 percent at the open on Wednesday as a coordinated action by major central banks to provide liquidity to the global financial system boosted investors' appetite for risky assets.
Eurozone

Is the Eurozone Set to Plunge Into Deep Recession?

The Eurozone seems all set to enter a period of deep recession, with the credibility of governments' ability to keep the region in balance under serious doubt. The Organisation for Economic Co-operation and Development (OECD) has already issued a warning that Eurozone and U.S. leaders must act urgently to stop their debt crises from spiralling out of control.
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Caution on Eurozone Bailout Progress Hits Asian Shares

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.

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