World Bank chief lauds India’s growth
January 9, 2011
World Bank President Robert Zoellick starts a four-day visit to India Monday where he is expected to laud the efforts by the big emerging country on its growing role in the global economy. Read more
Longoria’s Vegas restaurant goes bankrupt
January 9, 2011
The bosses of actress Eva Longoria’s Las Vegas restaurant and nightclub have filed for bankruptcy after racking up debts of almost $5.7 million.
The Desperate Housewives star launched the Sin City branch of Beso with business partner Todd English in December 2009 — a year after opening her flagship Hollywood restaurant with the same name.
The lawyers for Beso LLC filed legal papers in a Vegas court Thursday.
The lawyer said the company was expected to pile up losses of more than $76,000 a month, while Beso executives owed nearly $1.8 million in lease payments, contactmusic reports.
Longoria, who owns a third of Beso, had poured her own cash into the firm and recently boosted the business with a $1 million loan and covered $375,000 in legal fees.
Source: timesofindia.indiatimes.com
Home entertainment sales drop for sixth straight year
January 9, 2011
For the sixth straight year, home entertainment revenue has slid as surging interest in digital distribution and Blu-ray disks failed to make up for dropping DVD sales and rentals.
Earnings to set tone, upside may be limited
January 9, 2011
Investors head into next week on the defensive as the potential for U.S. equity gains could be limited even if earnings begin on a strong note.
The early fourth-quarter results will set the tone. Any weakness will give traders a reason to pull back from the rally of recent weeks, which stalled on Friday on bank stock losses and lackluster jobs data.
Bernanke fears slow US recovery
January 8, 2011
The US economy is showing signs of a “self-sustaining recovery”, but is not growing fast enough to reduce high jobless levels, Federal Reserve chairman Ben Bernanke has said.
Obama taps Gene Sperling as new head of economic council
January 8, 2011
President Barack Obama announced several new members of his economic team Friday as the administration trumpeted a falling unemployment rate.
Sudan ‘needs clearer oil-sharing deal’
January 6, 2011
Sudan needs to have greater transparency over its oil revenues to help preserve peace in the region, according to a new report.
Campaign organisation Global Witness says suspicions over how revenues have been shared have added greatly to mistrust between north and south.
Microsoft shows Windows running on mobile phone chips
January 6, 2011
Microsoft has shown a full version of Windows running on chips usually found in mobile phones.
The desktop version of Windows was demonstrated working with three processors built around chips designed by UK firm Arm.
Eurozone inflation soars to new high
January 5, 2011
Eurozone inflation rose in June to its highest since the bloc’s 1999 formation, data showed on Monday as political opposition mounted to an expected European Central Bank move to raise its main interest rate this week.
Australian producers face huge floods bill
January 4, 2011
Devastating floods in the north-eastern Australian state of Queensland have wreaked havoc on coal and commodity producers there, industry bodies said, with losses already pegged at A$2bn ($2.01bn) in terms of lost production.