Browsing: Business & Economy News

US stocks on Thursday moved lower in the first trading session of 2014 following a mediocre report on Chinese manufacturing activity. About 30 minutes into trade, the Dow Jones Industrial Average fell 76.74 points (0.46 percent) to 16,499.92. The broad…

Blackberry Ltd. said Friday it had filed a suit in a California court against Los Angeles firm Typo Products for violating its patents with a Blackberry-like keyboard made for Apple’s iPhone. The struggling Canadian maker of the Blackberry smartphone…

BlackBerry continues to tighten its purse strings and clean house–even top executives and global recording stars aren’t safe.  Alicia Keys will depart her role as “global creative director” for the smartphone, software and services provider…

Global oil prices rose slightly on Friday, after sharp falls the previous day, as investors awaited the release of key US crude inventories data. Brent North Sea crude for February added 46 cents to $108.25 a barrel in midday deals in London. New York…

India has cancelled a 556-million-euro ($753 million) contract with Anglo-Italian firm AgustaWestland to buy luxury helicopters for VIPs following a corruption scandal, the Press Trust of India reported Wednesday. The deal was scrapped after Defence…

The eurozone is finally set to return to growth in 2014 but the single currency bloc may not have put its crisis behind it as efforts to shore up its banks could boomerang. After beating back market panic that the eurozone was set to break up, eurozone…

On the last trading day of the year, Japanese shares posted their best annual performance for more than four decades, leaving other major markets in the dust. Foreign investors piled into the long-laggard market in 2013 as the government and central…

Equity transactions on the Nigerian Stock Exchange (NSE) opened after the holiday on Friday in an upward trend with the…

Shareholders of Italy’s troubled Banca Monte dei Paschi di Siena — the world’s oldest bank — on Saturday voted to postpone until mid-2014 a giant capital increase needed to stave off nationalisation. Management had wanted the 3.0-billion-euro ($4.…

Europe’s main stock markets rose on Friday as trading resumed after the Christmas break, but the political crisis gripping Turkey sent its currency sliding to a new record low. London’s benchmark FTSE 100 index climbed 0.85 percent to close at 6,750…

Five years after the meltdown of the Nigerian stock market, some investors and operators have shaken off their investment shocks…

Twitter shares tumbled Friday after a brokerage analyst warned the popular messaging network was overvalued following a meteoric rise since its initial public offering in November. Twitter shares closed down 12.99 percent at $63.79. But the stock has…

European stock markets rose in light pre-holiday trading on the coattails of Wall Street gains on renewed confidence in the strength of the US economic recovery, with Frankfurt setting a new record high. London’s benchmark FTSE 100 index gained 1.09…

A common complaint in Nigeria is that things just don’t work. The phones don’t work, the internet is down– and the man who fixes your car is “not around.” In this climate of confusion how does a savvy new internet company style like amazon.com, manage…

As you’ve probably heard by now, the news for BlackBerry over the past several months has not been good. And this morning’s quarterly earnings report—which, according to Engadget’s breakdown, saw a 1.8 million drop in smartphone shipments and…

The United States and the European Union on Friday ended a third round of talks to create the world’s largest free-trade area to boost growth and jobs in their huge economies. US and EU trade officials wrapped up five days of negotiations in Washington…

BlackBerry said Friday it fell deeper into the red in the past quarter as the struggling smartphone maker unveiled a new manufacturing partnership and a revamped organizational structure. The Canadian firm reported a massive $4.4 billion loss in its…

The Standard and Poor’s ratings agency on Friday downgraded the European Union’s long-term credit rating one notch, from “AAA” to “AA+”, citing weaker credit worthiness among the bloc. “The downgrade… reflects our view of weaker creditworthiness among…

The United States has signed anti-tax fraud pacts with six countries and territories including some considered tax havens, the US Treasury Department said Thursday. The Netherlands, Malta, and the British territories of Bermuda, Jersey, Guernsey and…

Why is everybody making such a fuss about the latest Warren Buffett wind power purchase? Okay, so the legendary investor’s MidAmerican Energy Company has just ordered a huge mess of wind turbines from Siemens, but it was all the way back in May that…