The recent “acqua alta” (high water) in Venice, Italy reached a depth of 1.56 meters (5 ft, 1 in.) on Monday - the deepest flood in 22 years, and the fourth highest flood level in recent history, claimed Venice’s Tide Center. The water began to subside on Tuesday, while residents and tourists made their way [...]
Icahn boosts Yahoo stake
Activist investor buys $67 million worth of shares this week, according to SEC filings.
NEW YORK (AP) — In a move likely to fuel speculation over Yahoo Inc.’s search for a new chief executive, activist investor Carl Icahn has bought up close to 7 million additional shares of the Internet company, according to [...]
Sweden in recession as 3Q GDP falls
Sweden has slipped into recession as the economy shrank for the second consecutive quarter, the Scandinavian country’s statistics agency said Friday.
Statistics Sweden said seasonally adjusted gross domestic product fell 0.1 percent in the third quarter, compared to the previous quarter. GDP also fell 0.1 percent in the second [...]
TMicroelectronics Cuts Forecasts as Orders Slide
By Juho Erkheikki
Nov. 28 (Bloomberg) — STMicroelectronics NV, Europe
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Xerox guidance in line with forecasts
The printing and copying giant said profits for 2009 would be about what analysts expect; cautions that extraordinary volatility of dollar could impact results.
By David Goldman, CNNMoney.com staff writer
EW YORK (CNNMoney.com) — Document services and imaging company Xerox Corp. said Monday that its 2009 profit would be roughly in line [...]
Yahoo CEO Jerry Yang to step down
After a rocky stint as chief executive, company co-founder will return to former role as ‘Chief Yahoo’ once replacement is found.
SAN FRANCISCO (AP) — Yahoo Inc. co-founder Jerry Yang is stepping down as chief executive, ending a rocky reign marked by his refusal to sell the Internet company to [...]
Sun to Cut up to 6,000 Workers Amid Financial Crisis
Nov. 14 (Bloomberg) — Sun Microsystems Inc. plans to cut as many as 6,000 jobs as the company tries to cope with plunging sales of server computers to financial firms, market-share losses to bigger competitors, and a spiraling stock price.
The reduction, which will eliminate as much [...]
Telecoms giant has 160,000 people working for it worldwide, of whom 110,000 are directly employed
Richard Wray, communications editor
guardian.co.uk, Thursday November 13 2008 08.30 GMT
Article history
BT is axing 10,000 workers, or 6% of its global workforce, with several thousand expected to go in [...]
Bailout’s Next Phase: Consumers
WASHINGTON — Treasury Secretary Henry Paulson officially abandoned his original plan to buy troubled assets from financial institutions. While the government will continue to invest in those firms, he said, it would also now focus on the nation’s struggling consumers.
In detailing the next phase of Treasury’s $700 billion Troubled Asset Relief Program, [...]