EU to mobile operators: Cut costs or face regulation
EU Commissioner Viviane Reding will call on mobile phone operators in the EU to cut the cost of texting and internet use for customers who are abroad. Should they fail to comply operators could face EU regulation.
UK: Government stats say housing market slowing
In December house prices rose by 0.4 per cent on the previous month, according to the latest figures from the Department for Communities and Local Government (DCLG).Despite this the figures still point towards a slow down in house price growth. The latest statistics said that the annual rate of house price inflation was 9.1 per cent – down from 9.7 per cent in November.The latest figures add to evidence which suggests that the housing market boom may be coming to an end. Last year top mo...
ONS says output price annual inflation up
The Office for National Statistics (ONS) has released figures showing that output price annual inflation for all manufactured products increased by 5.7 per cent in January. The ONS has also said that input price inflation rose from 12.2 per cent in December to 19.1 per cent in January.The ONS said that month by month, the output prices measure for all manufactured products increased by 1.0 per cent in January – mainly due to rises in other manufactured products.The 'narrow' output prices ...
Hauliers to call on Darling to scrap fuel duty increase
Representatives of the Freight Transport and Road Haulage Associations (FTA and RHA) will be meeting with the Chancellor of the Exchequer Alistair Darling today to discuss scrapping a two pence per litre increase on fuel duty.The FTA and RHA represent operators of over 300,000 lorries and in a joint letter to the Daily Telegraph, called for the two pence increase to be scrapped. The letter was signed by 11 major groups representing industry and motorists.The letter said, At 50.35p per l...
Commodities Round up: Platinum and Gold Soar on Energy Cuts, Oil Gains
Platinum prices hit yet another new high on Monday after the world's biggest platinum producer Anglo Platinum , said its output will drop again this year as a result of the current energy shortage in South Africa. Gold also gained.
U.S. Stocks Recover from AIG Accounting Weakness
U.S. stocks rose on Monday after American International Group Inc. said it overstated the value of some financial assets boosting fresh concerns over the financial sector.
Nokia Releases New Mobile Phones at the World Mobile Congress
Nokia unveiled new multimedia mobile phones and a new navigation software, on Monday during the on-going World Mobile Congress in Barcelona, Spain.
The new navigation software, Map 2.0 provides navigation to pedestrians.
Citi and Goldman most exposed to loan writedowns: report
Citigroup and Goldman Sachs are the most exposed to further writedowns from leveraged loans in the first quarter, as the value of loans and bonds created to finance leveraged buyouts plunges, Bank of America said.
Google's Android Phones Unveiled
The first phones to be loaded with Google's Android mobile software have been unveiled at the annual Mobile World Congress in Barcelona.
Google's Android software debuts in Barcelona
The first mobile phones fitted with Google's Android software platform made their debut at an industry trade show on Monday, a key advance in the struggle to bring the power of desktop computing to handsets.
Yahoo rejects Microsoft bid
Yahoo Inc on Monday rejected as too low Microsoft Corp's unsolicited $41.4 billion takeover offer, a move viewed by Wall Street as the first salvo in an effort to get the software maker to raise its bid.
AIG says auditors find internal control weakness
American International Group Inc, the world's largest insurer, on Monday disclosed that its auditors questioned the company's internal controls over its valuation of derivatives, sending its shares down more than 11 percent.
Platinum rally goes on
Platinum prices hit a record high for the eighth straight trading day on Monday on worries power problems in top producer South Africa would hit output badly.
Euro up on tough ECB talk
The euro edged up against the dollar on Monday after tough talk from monetary policy-makers dented expectations for lower euro-zone interest rates while the yen climbed broadly as investors cut back on risky trades.
Yahoo rejects Microsoft's bid
Yahoo Inc on Monday rejected as too low Microsoft Corp's unsolicited takeover offer, currently valued at $42 billion, putting the ball back in the software giant's court to pursue a deal. In a statement, Yahoo said its board unanimously concluded the proposal was not in the best interests of its shareholders.
Telefonica expects to raise China Netcom stake
Spanish telecoms group Telefonica SA expects to raise its stake in China Netcom Group Corp to 10 percent in coming months, Chairman Cesar Alierta told Reuters on Monday.
India small investor singed in Reliance Power shock
When Meera Sanghavi was allotted 16 shares of Reliance Power in India's biggest-ever initial public offer, it seemed a windfall for the middle-class housewife, who hoped to double her money in less than a month.
For Toyota, success is a bitter-sweet pill
General Motors Corp CEO Rick Wagoner boasts about the number of markets where the U.S. automaker is number one. Toyota Motor Corp President Katsuaki Watanabe emphasises where his company trails.
Seoul's iconic ancient city gate destroyed by fire
A 600-year-old gate in central Seoul listed as South Korea's number one national treasure and the country's landmark symbol has been destroyed, possibly by an arsonist, police said on Monday.
Foreclosure Web sites expand buying audience
Foreclosures were once only for the most aggressive investors but ordinary home buyers can now join in.
Motorola, Nortel reportedly in talks to combine units
Motorola Inc and Nortel Networks Corp are in talks to combine their wireless infrastructure units, the Wall Street Journal reported, quoting people familiar with the situation.
LG, Samsung bet on new mobile Linux platform
Samsung and LG Electronics on Monday showed new phones using free Linux software from Mobile Linux foundation, which said in total 18 phones from seven vendors would use its software.
Gates backs pause in future U.S. troop pullout
Defense Secretary Robert Gates said on Monday he backed a brief pause in U.S. troop reductions from Iraq once an initial pullout of five combat brigades has been completed in July.
Ledger's Beautiful Life Celebrated With Splash and Tears
Friends and family of actor Heath Ledger gathered in Perth for a private funeral service on Saturday followed by a spontaneous splash in the West Australian surf.
Second Trader Questioned About SocGen Released
A second trader questioned about massive losses at Societe Generale was released without charges by authorities on Saturday.
Oscars saved as Hollywood writers' and Producers Reach Tentative Deal
The Writers Guild of America and studio chiefs have reached a tentative deal for a new three-year contract to end the Hollywood writer's strike.
Ledger Funeral to be Held Saturday in Perth, Confirms Father
A private funeral for Hollywood actor Heath Ledger will be held in Perth today his family says, according to reports.
Codelco Will Invest $2 Billion to Boost 2008 Production
Codelco will launch an investment plan of $2 billion in 2008 to finance 550 projects, reported Chile newspaper El Mercurio on Friday.
FCC Chairman Urges Agency to Approve News Corp/Liberty Media Swap
The head of the U.S. Federal Communications Commission said on Friday he is urging the agency to approve Liberty Media's acquisition of News Corp's stake in DirecTV.
Hedge Funds 'Elect' Democrats in '08 Race
Hedge funds - the large, private pools of investment capital - and private equity firms, are giving campaign funds to Democrats at a faster pace than Republicans in this year's presidential race.