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UN: Global Economy Seen Slowing in 2007

The economic growth for this year is expected to grow steadily at a rate of 3.6 percent, but is expected to slow to 3 percent for 2007, according to UN estimates.

Fox offers shows on MySpace, TV sites

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News Corp. on Tuesday said it will launch a new service to offer full episodes of its television shows on MySpace.com and the Web sites of its local Fox TV stations after they have aired.

Abbas Walks Tightrope Above Palestinian Abyss

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The choice facing Palestinian President Mahmoud Abbas is stark: sack the Hamas-led government and risk civil war or do nothing and watch poverty and unrest deepen in Gaza and the occupied West Bank.
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Morgan Stanley buys Nantong Bank

US investment bank Morgan Stanley announced yestoday it has acquired the Zhuhai Nantong Bank owned by Macau branch of Bank of China.
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Disney to Take $30 Million Loss on Mobile ESPN-CFO

The Walt Disney Co. will spend about $30 million to shut down its Mobile ESPN wireless telephone services, but remains excited about its family-oriented Disney Mobile phone service, Disney Chief Financial Officer Tom Staggs said on Monday.
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Automakers Face Wide Profitability Gap

U.S automakers face a widening gap in profitability per vehicle compared to their major Japanese rivals because of missed design opportunities, heavy discounting and high labor costs, a study released on Monday said.
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Gilead to Acquire Myogen for $2.5 Billion

Gilead Sciences Inc., the world's third-biggest biotechnology company, said on Monday it has agreed to acquire Myogen Inc. for $2.5 billion in a surprise transaction that gives Gilead access to Myogen's experimental hypertension drugs.
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Manufacturers Hit the Brakes, Housing Holds Up

U.S. manufacturing growth eased in September to its slowest in more than a year, but home sales and construction figures suggested a less abrupt decline in the housing sector than many experts had foreseen. A weakening industrial sector could spell bad news for the economy as a whole.
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Scottish Power says trading well

Scottish Power said on Monday all its operations were performing well and that current year trading was expected to be ahead of expectations, boosting its shares.
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Morgan Stanley Buys Bank to Gain China Access

Morgan Stanley said on Monday it has acquired China's Nan Tung Bank, a deal that would give the Wall Street giant a coveted onshore commercial banking license in China ahead of U.S. investment bank rivals. The deal allows Morgan Stanley to apply immediately to offer yuan-denominated products.
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FTSE flat, online gaming sector plummets

The FTSE 100 index was flat on Monday with utilities leading the way but online gambling firms plummeting after the U.S. Congress passed legislation to ban online gaming there.
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Online gaming in crisis over U.S. ban

Online gambling firms faced their biggest-ever crisis on Monday after U.S. Congress passed legislation to end Internet gaming there, threatening jobs and wiping 3.5 billion pounds ($6.5 billion) off company values.
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ING Finds Success in Online Banking

As more and more people turn to the Internet to pay bills and shop for goods and services, Dutch financial services group ING has carved out a lead in what was once considered the most elusive of online services: banking.
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Women Have Mixed Success at Drug Companies: Study

Top women executives do slightly better at U.S.-based healthcare and pharmaceutical companies than in other industries, but 35 percent of big drug companies do not have a single female director, according to a new survey.
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Holidays Shine Light On Struggling U.S. Retailers

Changes could be coming for retailers like Gap Inc. and Pier 1 Imports Inc. that have struggled with falling same-store sales, while other retailers, like jeweler Zale Corp. will be watched to see if they can rebound from missteps during last year's holidays.

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