ECONOMY August 22, 2011 | 3:51 PM
The European Central Bank has announced that forecasters are now expecting higher rates of inflation at roughly 2.6% for the year and 2% for next year, up from the 2.5% for 2011 and 1.9% for 2012 predicted three months ago.
Economic growth figures have also been upgraded from 2.5% to 2.6% for the year. The ECB has also adjusted next year's growth figures, which have been downgraded from 1.7% to 1.6%.Read more »
BUSINESS August 22, 2011 | 12:01 PM
UK department retailer John Lewis signed TOA Technologies to run its new cloud-based appointment booking system, which allows customers to book appointments from anywhere.
John Lewis will begin the system's use in all 28 of its department stores in November to obtain a nationwide view of customer appointments. The system is part of a larger project that will provide the ability for flexible customer solutions and unified scheduling options to meet the retailer's needs, an important advantage for a brick-and-mortar company seeking to compete in today's tech-heavy world.Read more »
BUSINESS August 22, 2011 | 10:16 AM
The new Windows 8 operating system will sport an app store, according to a post on Microsoft’s developers blog site.
While not officially announcing the app store, Windows president Steven Sinofsky more or less confirmed the speculation that had been doing the rounds when he listed different development groups working on the Windows 8 platform.Read more »
BUSINESS August 19, 2011 | 6:05 PM
Hewlett-Packard is pulling the plug on its TouchPad tablet PC less than two months after its release, the company reported. The world’s largest computer maker will end all WebOS hardware operations, which also includes HP smartphones.
Alongside headlines of the TouchPad’s demise, HP also confirmed it will put an end to its PC business in order to concentrate on software, servers and other business equipment. The company announced plans for its $11.7 billion acquisition of UK software firm Autonomy in a move that recalls the business overhaul that IMB pulled off six years ago.Read more »
WORLD August 19, 2011 | 5:54 PM
A modified form of the drug ecstasy could be helpful in fighting certain types of cancer, according to researchers at the University of Birmingham.
In 2006, researchers at the university discovered that ecstasy, an amphetamine derivative chemically known as MDMA, was capable of destroying some forms of cancer including leukemia, lymphoma and myeloma. In addition to the recreational drug, anti-depressants like Prozac and some weight-loss drugs were also found to have the potential to impede the spread of cancer.Read more »
WORLD August 19, 2011 | 1:57 PM
The US Office of Naval Research successfully tested a new explosive substance that has five times the explosive power of materials available today. The revolutionary new High-Density Reactive Material (HDRM) is a mix of polymers and metals that is reported to have the density of mild steel but the strength of aluminum.
Traditional military projectiles, like missiles and shells, are built with a steel casing that houses explosive materials that explode on impact. The new method replaces the steel casing with HDRM, which combines with warhead explosives and only explodes once the target has been penetrated, explains Clifford Bedford, a scientist working for the Office of Naval Research (ONR) on the development of the new substance.Read more »
FINANCE August 18, 2011 | 6:16 PM
Manchester United lodged an application to be publicly listed on Singapore’s stock exchange Thursday, according to a source linked to the deal.
The English Premier League Champions and three-time Champions League winners are hoping to generate around $1 billion by selling up to a 30% stake in the club to pay off some $865 million in debt.Read more »
FINANCE August 18, 2011 | 5:51 PM
Australia’s biggest brewer Foster’s appealed to shareholders to turn down a US$10 billion hostile takeover bid from British-based SABMiller’s, saying the offer was too low.
SABMiller’s, whose major brands include Grolsch, Miller, Peroni and Pilsner Urquell, put the hostile offer directly to shareholders 45 minutes before the end of trading, its proposal of AU$4.90 (US$5.15) per share seeing shares rise 3 cents to AU$4.96.Read more »
BUSINESS August 18, 2011 | 5:04 PM
Here are a few headlines on the world’s No. 1 search engine: "Google buys graphical display company AdMeld for $400 million"; "Google buys AdMob for $750 million"; "Google buys YouTube for $1.6 billion"; and in its biggest deal of all - "The world’s biggest and most successful search engine purchases Motorola Mobility for $12.5 billion."
Google acquired over 40 companies in 2010 and more than 100 so far since it was first incorporated as a privately held business in 1998 by Larry Page and Sergey Brin, often dubbed the “Google Guys” who were then PhD candidates at Stanford University.Read more »
FINANCE August 17, 2011 | 11:34 AM
After continued worries of a soaring currency, Japan saw its yen fall to 76.5 on August 19, after it had recently reached a post World War II record high against the dollar.
The decline came as Finance Minister Yoshihiko Noda announced that he is prepared to take strong action to curb the currency's strength. Since the announcement, the yen has fallen from 79.04 on August 4 to 76.8 today.Read more »
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