Sony reports 25mn more ID thefts

Tue, 03 May 2011 06:35:45 GMT

Japan's electronics giant Sony says hackers have stolen personal information from an additional 24.6 million user accounts in its databases.

• Sony apologizes for online data breach

Business

Oil prices down over Bin Laden 'death'

Tue, 03 May 2011 02:35:00 GMT

Oil prices have settled slightly lower in New York as the news of Osama bin Laden's alleged death has prompted investors to weigh the impact of the event.

Sony apologizes for online data breach

Mon, 02 May 2011 06:31:44 GMT

Japanese electronics giant Sony has apologized to millions of online gamers and outlined proposals to overhaul its security systems after its network was breached by hackers.

Crude prices continue to surge

Sat, 30 Apr 2011 07:10:21 GMT

Crude oil prices have passed 114 dollars a barrel for the first time in 31 months, posting the eighth consecutive monthly rise.

Sony sued over PlayStation ID theft

Fri, 29 Apr 2011 07:52:30 GMT

Japan's electronics giant Sony is being sued in the US for negligence over the hacking of its PlayStation network, which could lead to the identity theft of millions of users.

More News

Thu, 28 Apr 2011 13:05:43 GMT

Japan's Panasonic to cut 35,000 jobs

Japan's top consumer electronics maker Panasonic has announced plans to cut its work force by 35,000 over the next two fiscal years.

Tue, 26 Apr 2011 09:04:33 GMT

'Food inflation threatens millions in Asia'

Soaring food and fuel prices can push tens of millions of Asians into extreme poverty by 2011 and derail economic growth in the region, the Asian Development Bank (ADB) says.

Sat, 23 Apr 2011 22:27:27 GMT

Gold hits record high

Global gold prices have hit a record high, topping $1,508 per ounce for the first time ever as a weak dollar boosted the metal's demand as an alternative investment.

Thu, 21 Apr 2011 06:42:45 GMT

Toyota extends production cuts

Japanese automaker Toyota has announced a decision to extend its production cuts in North America and China due to a shortage of car parts following Japan's disastrous earthquake last month.

Wed, 20 Apr 2011 08:19:51 GMT

Gold sets price record amid dollar woes

Gold prices have hit an all-time high, standing at above USD 1,500 an ounce, amid growing concerns over the deepening economic crisis in the United States affecting the dollar.

Sun, 17 Apr 2011 09:02:46 GMT

WB warns about food prices, ME revolts

The World Bank has warned that the recovery of developed economies may face further challenges due to the rising food prices, high unemployment and the uprisings in the Middle East and North Africa.

Fri, 15 Apr 2011 02:10:15 GMT

World Bank warns of soaring food prices

The World Bank has warned that global food prices have reached unsafe levels, pushing 44 million people, mostly in poor countries, into poverty since June last year.

Mon, 11 Apr 2011 17:33:08 GMT

'World needs new reserve currency'

A prominent American economist says the world needs a new global reserve currency to avert trade imbalances that are reflected in the US national debt.

Mon, 11 Apr 2011 16:34:47 GMT

Gold prices hit new record high

Investment bankers and commodities analysts are giving the thumbs up for putting money into gold as the price of the yellow metal has advanced to a record.

Wed, 06 Apr 2011 14:33:27 GMT

IKCO to boost output by 20 percent

The Middle East's auto giant Iran Khodro Company (IKCO) says it plans to manufacturing 850,000 vehicles in the current Iranian calendar year (beginning March 21).

Tue, 05 Apr 2011 07:41:33 GMT

Kuwait expects oil prices to pull back

The wealthy Persian Gulf kingdom of Kuwait would prefer to see lower oil prices in the wake of recent revolutions in the Middle East region and Japan's nuclear disaster.

Mon, 04 Apr 2011 23:26:47 GMT

Toyota units partly shut down in US

Japanese automaker Toyota has announced a decision to close some of its production plants in the US due to shortage of parts after Japan's disastrous earthquake.

Mon, 04 Apr 2011 17:48:16 GMT

Oil prices reach USD 120 a barrel

Crude oil has hit two-and-a-half-year highs at almost USD 120 per barrel on prospects of higher demand following the popular uprisings in the Middle East and North Africa.

Mon, 04 Apr 2011 14:33:18 GMT

Dubai economy hit by anti-Iran sanctions

The unilateral sanctions slapped against Iran have seriously challenged Dubai's economy and forced the local government to explore other avenues in order to repay its debts.

Mon, 04 Apr 2011 07:17:30 GMT

Japan fears further business plunge

The latest Bank of Japan (BOJ) survey shows Japanese business confidence is set to plunge following the March 11 earthquake and tsunami, and the current nuclear crisis in the Asian country.

Sun, 03 Apr 2011 16:44:53 GMT

Arms companies eying crisis-hit nations

Arms manufacturers have no worries about their income as they simply capitalize on the volatile situation in crisis-hit countries, a new report says.

Wed, 23 Mar 2011 06:53:04 GMT

Oil prices surge on Libya, ME unrests

Crude oil prices are on the rise as tensions in the Middle East and fighting between Gaddafi's loyalists and revolutionary forces as well as a US-led military intrusion rages on.

Thu, 17 Mar 2011 08:22:27 GMT

Japan injects ¥5tn into troubled markets

The Bank of Japan (BOJ) has injected 5 trillion yens (USD 61 billion) to calm the country's upset financial markets following Japan's devastating March 11 earthquake.

Sun, 13 Mar 2011 12:14:10 GMT

'Corporate mafia grab Twitter, Facebook'

The existing social networks on the internet can no longer be reliable platforms for organizing anti-government uprisings, because corporate cartels are beginning to own them, a political analyst says.

Thu, 10 Mar 2011 11:37:47 GMT

Beijing, Caracas boost trade relations

Business transactions between China and Venezuela are increasing dramatically in number as China is seeking to open up and maintain markets in Latin America.

Thu, 10 Mar 2011 06:51:15 GMT

Libya melee pushes oil prices higher

Oil prices are on the rise as Libyan forces loyal to embattled ruler Muammar Gaddafi continue to bombard the country's residential areas and oil cities.

Sun, 06 Mar 2011 18:22:33 GMT

USB: London future in doubt

The chief executive of Switzerland's UBS bank Oswald Grubel says the United Kingdom threatens to undermine London's position as the leading financial center.

Sun, 06 Mar 2011 10:11:09 GMT

'World set for new economic model'

Following the collapse of communism and the exacerbating financial crisis in the capitalist world, the global economy is bound to opt for a new model, a political analyst says.

Fri, 04 Mar 2011 08:57:15 GMT

Mazda recalls 6 series in North America

Japanese Auto maker Mazda has recalled 65,000 vehicles in North and Central America due to spider nests in rubber hoses linked to the vehicles' fuel tank systems.

Thu, 03 Mar 2011 04:22:45 GMT

Libya revolt sends oil prices flying

Concerns over Libya's oil output amid growing clashes between anti-government protesters and forces loyal to Libyan ruler Muammar Gaddafi have pushed oil prices up in global markets.

Tue, 01 Mar 2011 09:10:02 GMT

Saudi Arabia vows to raise oil output

OPEC's largest producer, Saudi Arabia, has pledged to raise its oil output in order to ease the panic in the oil market following a disruption in Libya's oil production.

Sun, 27 Feb 2011 18:39:21 GMT

OPEC urges KSA to show restraint

The head of the Organization of Petroleum-Exporting Countries (OPEC) calls on Saudi Arabia to avoid making unilateral decisions in the face of rising crude prices.

Fri, 25 Feb 2011 17:08:27 GMT

VW unveils record net profit

European automobile giant Volkswagen has posted a record net profit in 2010, sending its shares soaring with forecasts of even better results this year.

Thu, 24 Feb 2011 10:27:29 GMT

London Brent oil prices soar to $120

London Brent oil prices have soared to 120 dollars amid the developments in Libya and several other oil-rich nations in North Africa and the Middle East.

Tue, 22 Feb 2011 08:15:32 GMT

Libyan revolt prompts oil price surge

Recent violent political uprisings in the Middle East and North Africa and concerns over disruptions in the oil supply have pushed world crude prices to their highest levels in two years.

Fri, 18 Feb 2011 10:38:17 GMT

Jordan, Turkey ink nuclear agreement

Jordan and Turkey have signed a nuclear cooperation agreement in the field of use of nuclear energy for peaceful purposes and nuclear security.

Thu, 17 Feb 2011 08:18:50 GMT

Honda Motor to recall 700,000 vehicles

Japanese giant automaker Honda Motors has announced that it would recall about 700,000 vehicles worldwide due to faulty engine parts.

Wed, 16 Feb 2011 00:09:21 GMT

Deutsche Boerse, Euronext to merge

The German stock exchange Deutsche Boerse and NYSE Euronext have agreed to a merger that would create the world's biggest exchange by revenues and a powerhouse in derivatives trading.

Mon, 14 Feb 2011 15:45:00 GMT

Crude oil prices above USD 102 pb

The wave of pro-democracy rallies in the Middle East and the ouster of Egyptian President Hosni Mubarak have resulted in the price of Brent crude oil soaring above USD 102 per barrel.

Mon, 14 Feb 2011 08:29:24 GMT

UAE: Oil market very well supplied

Following Egypt's revolution, which surged oil prices over the past weeks, UAE Energy Minister Mohamed bin Dhaen al-Hamli says the oil market is very well supplied.

Mon, 14 Feb 2011 07:15:42 GMT

China tops Japan economy to stand 2nd

Official data shows the Chinese economy expanded by almost 10.3 percent in 2010, overtaking Japan's 42-year ranking as the world's second largest economy.

Mon, 14 Feb 2011 01:55:38 GMT

Growing China beats Japan in economy

China has passed Japan to become the world's second largest economy, a shift indicating China's rise and Japan's decline as global growth engines.

Thu, 10 Feb 2011 00:55:43 GMT

'IMF ignored financial crisis warnings'

A report says the International Monetary Fund (IMF) praised the US economy despite a 2005 warning by its chief economist of a global financial crisis.

Wed, 09 Feb 2011 19:25:01 GMT

Jobless rate to remain high, Fed warns

Reducing the US budget deficit is “daunting” and "it will be several years before the unemployment rate has returned to a more normal level,” says the US Federal Reserve chairman.

Sat, 05 Feb 2011 16:16:25 GMT

EU discusses economic, energy reform

The European Commission has placed a deadline for the European Union (EU) countries to develop measures to strengthen economic governance.

Thu, 03 Feb 2011 06:44:47 GMT

Oil prices soar on Egyptian revolution

Oil prices have continued its rising move due to the recent images of violent clashes between the Egyptian forces with anti-government protesters.

Tue, 01 Feb 2011 13:48:05 GMT

'Egypt unrest behind oil price hike'

Iran's OPEC governor Mohammad Ali Khatibi has cited Egypt's political turmoil and the weakening dollar as the main reasons behind the surge in oil prices.

Mon, 31 Jan 2011 08:13:54 GMT

China warns of inflation rise

China's Central Bank has warned that inflation still runs high in China, while it has launched measures to tighten monetary policies to rein in price bubbles.

Mon, 31 Jan 2011 05:39:05 GMT

Oil prices surge over Egypt unrest

World oil prices are rising in world markets amid fears that mounting political unrest in Egypt might disrupt supplies through the Suez Canal.

Sat, 29 Jan 2011 05:55:46 GMT

Egypt unrest rattles Wall Street

The US stock market has sustained its biggest one-day loss in nearly six months as fears over growing turmoil in Egypt shakes Wall Street to the core.

Sat, 29 Jan 2011 06:13:12 GMT

Ford sees record profit in 11 yrs.

American auto giant Ford has reported a profit of $6.6 billion (£4.1bn) in 2010 - its best performance in more than a decade.

Fri, 28 Jan 2011 00:52:55 GMT

IMF slams US, Japan, Brazil economies

The International Monetary Fund (IMF) warns the world's largest economies over failing to secure fiscal measures to reduce their countries' deficits.

Thu, 27 Jan 2011 02:40:08 GMT

Toyota recalls 1.7 million cars

Toyota has recalled almost 1.7 million cars across the world for likely fuel leaks, inflicting another blow to the giant automaker's reputation.

Wed, 26 Jan 2011 07:49:00 GMT

World Economic Forum to open in Davos

The 41st annual World Economic Forum aimed at fighting global financial problems, is set to open in the Swiss mountain resort of Davos.

Fri, 21 Jan 2011 12:57:50 GMT

'Global economy shifting eastwards'

The dominance of the West over the global economy will decline as the economic power is moving eastward, says a Professor of Binary Economics.

Fri, 21 Jan 2011 08:45:43 GMT

Consumer confidence falls in Eurozone

Official figures show that economic conditions may worsen as consumer confidence in the Eurozone countries has fallen to a five-month low in January.

Thu, 20 Jan 2011 23:39:52 GMT

IMF warns about Arab world joblessness

The International Monetary Fund (IMF) has warned that high unemployment rate is an “increasingly urgent” challenge for the Arab world.

Wed, 19 Jan 2011 14:05:40 GMT

'Quiet hike in OPEC oil output'

The International Energy Agency says some members of the Organization of Petroleum Exporting Countries (OPEC) are quietly increasing their outputs.

Wed, 19 Jan 2011 08:52:33 GMT

Recession looms for Europe in 2011: UN

The UN has warned that euro zone could revert back into recession in 2011 under the burden of fiscal austerity measures imposed on some heavily indebted European countries.

Tue, 18 Jan 2011 08:17:43 GMT

China signs $600m deal with US

The Chinese government has signed major trade deals with US companies worth $600 million ahead of a visit by Chinese President Hu Jintao to the United States.

Mon, 17 Jan 2011 06:18:55 GMT

US censures BP-Rosneft share swap

The United States has strongly criticized the $16 billion share swap deal between Russian state-owned company Rosneft and British oil giant BP, a major supplier to the US military.

Sat, 15 Jan 2011 11:04:04 GMT

BP, Russia to explore Arctic oil, gas

Energy giant British Petroleum (BP) and state-run Russian oil firm Rosneft have signed a deal allowing BP to explore huge oil and gas deposits in Russia's Arctic shelf.

Thu, 13 Jan 2011 08:00:15 GMT

World Bank sees 2011 economic decline

The World Bank has warned that the rate of global economic growth will slow down in 2011 with emerging markets growing much faster than developed economies.

Thu, 13 Jan 2011 06:37:17 GMT

Oil prices hike in Asian markets

Oil prices have climbed in Asian trade markets for a fourth consecutive day with the Brent crude oil reaching its highest level in 27 months.

Wed, 12 Jan 2011 04:43:44 GMT

Austrian charged with defrauding 13,000

An Austrian businessman is standing trial on charges of defrauding nearly 13,000 private investors of some 400 million euro in a Ponzi-style scheme.

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