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
IPL auction, Day 2: Marsh goes to Pune, Kochi bag Owais Shah
January 9, 2011
Young Aussie batsman Mitchell Marsh was bought by Pune Warriors, coached by dad Jeff, for $290,000 as Kochi IPL bought English batsman Owais Shah for $200,000 on the second day of Indian Premier League auction in Bangalore on Sunday.
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.
ARM says Microsoft needs it for mobile
January 9, 2011
Microsoft’s plan to make Windows compatible with ARM Holdings chip designs will help the software giant establish a major presence in smartphones and tablets, ARM’s president said.
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.
Verizon to carry iPhone: source
January 9, 2011
Verizon Wireless will sell the iPhone, the Wall Street Journal reported on Friday, citing a person familiar with the matter.
There was no specific date for when Verizon would sell the phone in its stores, the paper reported on its website. The announcement will be made on Tuesday at an event in New York, WSJ said.
Apple CEO Jobs takes $1 for 2010 compensation
January 9, 2011
Apple Inc Chief Executive Steve Jobs earned another $1 in salary 2010, the technology company said in a regulatory filing on Friday. Read more
Bernanke fears slow US recovery
January 9, 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.
Mr Bernanke told the Senate Budget Committee it could take four to five years for the job market to normalise.
Harry Potter plagiarism case dismissed
January 8, 2011
A US judge has dismissed a legal action accusing Harry Potter author JK Rowling of copying the work of another author.
The estate of late author Adrian Jacobs claimed that the plot of fourth Harry Potter outing Goblet of Fire plagiarised parts of his book The Adventures of Willy the Wizard.