Tech giant Apple has lost its crown as the world’s most valuable publicly traded company after its shares continued to fall. Oil company Exxon Mobil has regained the top slot after Apple shares fell 2.4%, following a 12% drop on Thursday. Apple, which posted disappointing iPhone sales figures on Wednesday, has seen its shares fall… Continue reading Apple loses crown as world’s most valuable publicly traded company to Exxon Mobile
Category: Business
Galaxy smartphones sales boost Samsung Electronics profits
Samsung Electronics has announced its profits surged 76% in the last quarter of 2012, helped by sales of its Galaxy smartphones. Net income rose to a record 7.04 trillion won ($6.6 billion), up from 4.01 trillion won in the same period a year earlier, beating analysts’ expectations. The Korean firm said its mobile profits more… Continue reading Galaxy smartphones sales boost Samsung Electronics profits
Apple shares drop 10% amid fears of losing its dominance in the smartphone market
Apple shares have tumbled 10% as investors fret over whether the company could lose its dominance in the smartphone market. About $50 billion was wiped off Apple’s value after the biggest daily drop in the firm’s stock in four years. Flat profits and record quarterly revenue of $55 billion were not enough to overcome disappointment… Continue reading Apple shares drop 10% amid fears of losing its dominance in the smartphone market
Hillary Clinton gives evidence on Benghazi consulate attack
Hillary Clinton is giving evidence to Congress over the deadly attack on the US consulate in Benghazi, Libya, last year. “I take responsibility,” the Secretary of State told the foreign relations committee of the Senate, referring to security failures that led to the attack. She had been due to testify late last year but fell… Continue reading Hillary Clinton gives evidence on Benghazi consulate attack
David Cameron pledges in/out referendum on EU
UK’s PM David Cameron has said the British people must “have their say” on Europe as he pledged an in/out referendum if the Conservatives win the election. David Cameron said he wanted to renegotiate the UK’s relationship with the EU, before asking people to vote. The British people would face a “very simple choice” either… Continue reading David Cameron pledges in/out referendum on EU
Benjamin Netanyahu alliance wins Israel election
Israeli PM Benjamin Netanyahu has pledged to form “as broad a government as possible” after his alliance won a narrow election victory. His right-wing Likud-Beitenu bloc will have 31 seats in parliament – a sharp drop from 42, exit polls suggest. In a major surprise, the centrist Yesh Atid (There is a Future) party came… Continue reading Benjamin Netanyahu alliance wins Israel election
Global Employment Trends 2013 report shows world jobless numbers rising
World jobless numbers rose by 4 million in 2012 to 197 million and is expected to grow further, the UN labour agency warns. In a recent report, the International Labour Organization (ILO) said the worst affected were youth: nearly 13% of the under 24s were unemployed. It said global unemployment was projected to rise 5.1… Continue reading Global Employment Trends 2013 report shows world jobless numbers rising
Israel elections: PM Benjamin Netanyahu seeks re-election
Israel has begun voting in a general election, with polls suggesting Prime Minister Benjamin Netanyahu will return to office but with a reduced majority. Benjamin Netanyahu said the choice was between parties that would lead to “a divided and weak Israel or a united and strong Israel”. Analysts say he is likely to form a… Continue reading Israel elections: PM Benjamin Netanyahu seeks re-election
Inauguration 2013: Barack Obama speech at his second term inauguration
US President Barack Obama has told the American people to “seize the moment”, in a speech in Washington DC inaugurating his second term. After taking the oath of office, Barack Obama said America’s possibilities were limitless as it emerged from a decade of war and a long economic crisis. Barack Obama, 51, who is the… Continue reading Inauguration 2013: Barack Obama speech at his second term inauguration
Inauguration Day 2013 schedule: Barack Obama set for public inauguration
Barack Obama is to be publicly sworn in as US president for second time. Hundreds of thousands are expected in Washington for the event, which will feature music from Beyonce, parades, black tie balls and tight security. They will crowd on to the Washington Mall to see the president take the oath of office on… Continue reading Inauguration Day 2013 schedule: Barack Obama set for public inauguration
Angela Merkel’s coalition loses Lower Saxony election
Germany’s SPD, Chancellor Angela Merkel’s centre-left opponents, has won a narrow victory in elections in the state of Lower Saxony. The Social Democrats and the Greens won a single-seat majority in the state legislature, a region of 8 million people in north-western Germany. The election is seen as a bellwether for national elections in September.… Continue reading Angela Merkel’s coalition loses Lower Saxony election
Barack Obama officially sworn in as US president
Barack Obama has officially been sworn in today for his second term as US president in a small ceremony at the White House. Although the US Constitution requires the oath of office to be taken by noon on January 20, that falls on a Sunday so the public inauguration will take place on Monday. Barack… Continue reading Barack Obama officially sworn in as US president
Lower Saxony election: CDU’s David McAllister hoping for re-election
Voters in the German state of Lower Saxony are going to the polls in a regional election seen as a bellwether for national elections later this year. The state is currently controlled by German Chancellor Angela Merkel’s Christian Democrats (CDU) in coalition with the pro-market Free Democrats. But opposition parties are hoping to make gains… Continue reading Lower Saxony election: CDU’s David McAllister hoping for re-election
US Federal Reserve underestimated 2007 global financial crisis
The US Federal Reserve released transcripts from its 2007 meetings have shown it may have underestimated the looming global financial crisis. The documents suggested Fed Governor Ben Bernanke wanted to hold off from addressing rising panic in the markets. Ben Bernanke said in December 2007 that he did not “expect insolvency or near insolvency among… Continue reading US Federal Reserve underestimated 2007 global financial crisis
Athens rally against neo-fascist party Golden Dawn
Some 3,000 people have taken part in a rally in Athens to protest against the rise of Greece’s neo-fascist party Golden Dawn. The protest, which brought together Greeks and immigrants, was part of a day of anti-racism events. Golden Dawn, exploiting public anger over the financial crisis, won 18 seats in parliament last June. One… Continue reading Athens rally against neo-fascist party Golden Dawn
Boeing suspends 787 Dreamliner aircraft deliveries
Boeing has decided to suspend deliveries of its new 787 Dreamliner jet until a battery problem is resolved. Boeing said it would continue to build the plane, but not deliver any until US safety officials gave their backing. The Federal Aviation Administration has joined the Dreamliner investigation. All 50 of Boeing’s 787 Dreamliners have been… Continue reading Boeing suspends 787 Dreamliner aircraft deliveries
Canadian plastic banknotes feature wrong leaf
The Canadian new plastic banknotes feature Norway maple leaves, instead of the Canadian sugar maple leaf, according to botanists. The botanists argue the leaf shown features more sections and has a more pointed outline than the Canadian version. The maple leaf is featured on the new C$20, C$50 and C$100 notes, which were introduced in… Continue reading Canadian plastic banknotes feature wrong leaf
Subway footlong sandwich scandal
Sandwichmaker Subway has finally responded to international criticism that its footlong sandwiches only appear to be 11 inches long. Subway’s reply won’t win them any new fans, as they claimed that the word footlong is a “registered trademark as a descriptive name for the sub” and “not intended to be a measurement of length”. A… Continue reading Subway footlong sandwich scandal
Chinese economy shows rebound signs
Chinese economy, the world’s second largest, is showing signs of a rebound that could help it emerge from its worst economic period in 13 years. According to the latest Chinese government figures, growth picked up to 7.9% in the final three months of 2012, from 7.4% in the previous quarter. This was driven by state… Continue reading Chinese economy shows rebound signs
Toyota settles Paul Van Alfen and Charlene Jones Lloyd death lawsuit
Toyota announces it has settled a wrongful death lawsuit following a fatal crash in Utah in 2010 involving sudden, unintended acceleration. The case was brought by the family of Paul Van Alfen and Charlene Jones Lloyd, who were killed when their Toyota Camry crashed into a wall. Toyota did not disclose the size of the… Continue reading Toyota settles Paul Van Alfen and Charlene Jones Lloyd death lawsuit
US Dreamliner fleet grounded indefinitely
Boeing’s 787 Dreamliner continues to face problems as more aviation regulators and airlines grounded the plane on safety concerns. The Federal Aviation Administration (FAA) ordered US airlines to stop using 787s temporarily after a battery fault caused an emergency landing in Japan. Airlines in Chile and India quickly complied by grounding their Dreamliners. Boeing said… Continue reading US Dreamliner fleet grounded indefinitely
Japan Airlines and ANA ground Boeing 787 Dreamliners after emergency
Japan Airlines and All Nippon Airways (ANA), Japan’s two main airlines, have grounded their Boeing 787 Dreamliners after one was forced to make an emergency landing because of battery problems. ANA grounded its fleet of 17 Dreamliners when its flight NH 692 from Yamaguchi Ube was forced to land shortly after take-off. Japan Airlines followed… Continue reading Japan Airlines and ANA ground Boeing 787 Dreamliners after emergency
German economy slows sharply in 2012
Germany’s economy grew by 0.7% in 2012, a sharp slowdown on the previous year, preliminary figures show. The figure was well below the 3% growth seen in 2011 and suggests the economy contracted in the fourth quarter. “In 2012, the German economy proved to be resistant in a difficult economic environment and withstood the European… Continue reading German economy slows sharply in 2012
Barack Obama takes stand on debt fight
America is “not a deadbeat nation”, President Barack Obama has said, as he warned Republicans unconditionally to approve a rise in the US debt ceiling. At a White House news conference, Barack Obama said it would be “absurd” to use the borrowing limit as a negotiating chip. But Republican House Speaker John Boehner said spending… Continue reading Barack Obama takes stand on debt fight
2014 Corvette: Return of the Stingray
When General Motors engineers and designers started work on the next-generation Corvette, they drew up the usual requirements for the star of American muscle cars. Killer looks. Big engine. Handles like a race car. But topping the list back was something at odds with the roar of the car’s big V-8: Gas mileage. The new… Continue reading 2014 Corvette: Return of the Stingray