Bhaskar Prasad

Allen Stanford was found guilty by a U.S. jury of a $7 billion Ponzi scheme on Tuesday.

The spot price of the benchmark Memphis cotton price have jumped more than 5 percent after India, the world’s second largest producer and exporter of cotton, banned exports of the fibre Tuesday. However, the impact of this ban on prices is expected to be short-lived according to a report.

Goldman Sachs Group Inc has stated that it posted a net loss of $103 million in Asia for the year 2011, compared with a $2.1 billion profit in 2010.

Yahoo Inc is planning to undergo a major restructuring of the company, which will include lay-off of many employees.

Chemical analyses have found that high levels of a chemical that causes tumors in animals are present in drinks made by Coca-Cola and PepsiCo, according to a report by a consumer advocacy group.

Large capital inflows to Latin America have resumed in recent months, which if continue can result in a threat of overheating and asset price bubbles according to a report.

The widespread assumption among investors that Vladimir Putin's decisive victory in Sunday's presidential election will deliver stability to Russia's economy and its financial markets seems misplaced, according to a report.

A U.S. senator has called on the Federal Trade Commission to initiate an investigation subsequent to reports that applications on the Apple and Google mobile systems are violating privacy of users, according to a report.

The U.S. Federal prosecutors have filed papers in New Zealand seeking the extradition of Megaupload founder Kim Dotcom and three of his colleagues who are accused of criminal copyright violations.

The reintroduction of the government subsidy in Japan on fuel-efficient vehicles, which propelled a big increase in retail spending and industrial production in January, will generate negligible benefit to the economy of the country, according to a report.

Mangalore Refinery and Petrochemicals Ltd (MRPL) has plan to cut its annual import deal with Iran by 44 percent according to the latest report.

American International Group Inc. (AIG) has stated that it has started selling shares of AIA Group Ltd, listed in Hong Kong, for raising $6 billion, in order to repay the bailout it received from the U.S. government in 2008.

China will target for an economic growth of 7.5 percent in 2012 according to state-of-the-nation speech that Premier Wen Jiabao delivered at the annual meeting of the National People’s Congress in Beijing Monday.

The U.S. Federal authorities have charged 29 people involved in a $325 million operation of smuggling counterfeit goods from China.

The name of Continental Airlines faded into history as its computerized operations got connected to United Airlines.

Apple Inc. announced that its App Store reached 25 billion application downloads Saturday. A billion thanks. 25 times over, said an announcement on the company's Web site. The App Store has reached 25 billion downloads. Thanks for getting us there.

Facebook Inc, the social networking firm, has hired more banks to work as underwriters for its initial public offering, according to a report.

China will increase its defense spending by 11.2 percent this year, a government representative said on Sunday when the country disclosed its military budget. It will spend 670 billion yuan ($106.4 billion) on defense in 2012, which represents an increase of $14.4 billion over the $92 billion spent on the military in 2011.

Citigroup Inc. announced Friday that Richard Parsons would quit as chairman of the firm at its annual meeting in April and Michael O'Neill, the former chief executive of Bank of Hawaii Corp, would succeed him.

BP PLC said early Saturday that it has agreed to a $7.8 billion deal with a committee representing plaintiffs to settle claims by fishermen and other private claimants who were adversely affected by the massive oil spill in the Gulf of Mexico caused by the Deepwater Horizon disaster in 2010.

The surge in oil prices is unlikely to have a major impact on inflation in emerging Europe but the impact on growth could be more significant according to the report.

A senior investment banker of Morgan Stanley has been charged with a hate crime involving stabbing and threatening a cab driver in New York over a fare dispute.

Moody's Investors Service on Friday cut the credit ratings of Greece, saying that the recently announced debt-exchange proposals for the country imply expected losses to investors of more than 70 percent.

Barclays Plc has taken 8.2 billion euros ($10.9 billion) of the European Central Bank's (ECB) long-term refinancing operation (LTRO), which offers three-year loans to banks at a rate of 1 percent, in order to manage funding gaps in Spain and Portugal.

Facebook is planning to raise its $2.5 billion credit line to facilitate paying taxes on its employees’ restricted stock units when they vest six months after the company’s initial public offering.

Oil prices fell Friday following the confirmation from Saudi Arabia denying the pipeline explosion in the Kingdom.

The auto sales in the U.S. picked up to the fastest rate in four years strengthened by the climb in sales of fuel-efficient vehicles as gasoline prices continued to surge.

Yelp Inc, the online reviews service, has priced its initial public offering at $15 per share, which is above its expected range of $12 to $14.

Eastman Kodak Co has announced that it has agreed to sell its online photo services to Shutterfly for US$23.8 million.