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  • Yahoo buys blogging platform Tumblr for $1.1 bn cash Yahoo buys blogging platform Tumblr for $1.1 bn cash

    NEW YORK - Yahoo promised "not to screw it up" as it formally announced its acquisition of the popular Tumblr blogging platform for $1.1bn in cash, giving the company a much-needed base in social media to reach a younger generation of users. The relaxed wording of the memo for one of the internet giant's biggest acquisitions was echoed in the memo sent by David Karp, Tumblr's 26-year-old ...

  • Actavis buying Warner Chilcott in $8.5bn deal Actavis buying Warner Chilcott in $8.5bn deal

    WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...

  • New business jet Challenger 350 launched by Bombardier New business jet Challenger 350 launched by Bombardier

    GENEVA - Canadian aeroplane maker Bombardier has expanded its leading Challenger family of business jets with the launch of the new Challenger 350 aircraft in collaboration with global leader in private aviation, US firm NetJets. The launch on Monday was held at a special event here at the European Business Aviation Conference and Exhibition (EBACE). Bombardier said deliveries of the ...

  • South African regulator gives nod for Eskom wind power project South African regulator gives nod for Eskom wind power project

    JOHANNESBURG - The National Energy Regulator of South Africa (Nersa) has granted power producer Eskom a licence for its Sere wind farm in the Western Cape, paving the way for the company to start construction of its $254.3 million (R2.4-billion) project. Sere is the Nama word for "cool breeze". The wind farm project is scheduled to become fully commercially operational by the end of ...

  • Morgan Stanley to sell Indian private banking arm to StanChart Morgan Stanley to sell Indian private banking arm to StanChart

    MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...


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Movie Review

Catch-22

Catch-22

The decade of the 1970s, which is generally considered to be one of the most vibrant and creative periods of American filmmaking, was bookended by two enormous, challenging, high-budget experimental films about war made by successful, established directors who almost lost their careers in the process. The decade ended in 1979 with Francis Ford Coppola's Apocalypse Now, which retold Joseph ... ...

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  • Work starts on creation of new Dubai island

    Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...

  • Marks Spencer profits fall again

    Marks & Spencer have fallen for the second year in a row as its much maligned womenswear divison continued to disappoint.UK sales fell 1% overall, dragged down by a poor performance in general merchandise, which dropped 4.1% on a like-for-like basis.The results could have been worse had it not been for a 4.5% rise in international sales and a 16.6% boost in multichannel business. Food was ...

  • G4S boss Nick Buckles quits

    G4S , the company responsible for the botched handling of security at last year's Olympics.Buckles is being replaced by the company's chief financial officer, Ashley Almanza, who only joined G4S three weeks ago.The world's largest security company told the City this morning that Buckles, who was paid a basic salary of 830,000 a year, will leave on 31 May.His abrupt departure comes ...

  • How Local Business Week highlighted issues affecting SMEs

    Local Business Week (LBW) drew to a close on Sunday, leaving in its wake several interesting points to consider about the future of the British high street and its thousands of butchers, bakers, candlestick makers - and countless other small businesses.When we launched the campaign, the intention was to encourage shoppers to stay local for the week and make SME owners aware of the support and ...

  • EU Bank Rescue Law Hurting Big Deposits

    A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than 100,000 euros in savings when a bank failed could suffer losses.A group of lawmakers in the European Parliament's economics committee overwhelmingly voted that, from 2016, large depositors in the EU might suffer ...

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