BUSINESS August 15, 2011 | 5:50 PM
Google Inc announced Monday that it will buy Motorola Mobility for $12.5 billion in a move that could shake up the smartphone industry.
The acquisition is the largest for the internet giant, which will gain access to Motorola’s hefty portfolio of 17,000 patents, with a further 7,500 under review, as well as boosting its hardware business. The companies released a joint statement saying that the deal had been approved by both executive committees and that the acquisition would be finalized by early 2012.Read more »
BUSINESS August 12, 2011 | 5:57 PM
Women have a 25% increased risk of smoking-related heart disease over men, even though they generally smoke fewer cigarettes than men, a new study from leading medical journal The Lancet shows.
Based on data conducted over a 30 year period on more than 2.4 million participants, the research also revealed the longer a woman smoked, the greater her risk of heart disease was, compared with that of a man, who had smoked for the same length of time. For every additional year that a woman smoked, her risk increased by 2%.Read more »
ECONOMY August 12, 2011 | 12:00 PM
Vacancies for financial jobs in London dropped 11% in July to 4,800 from 5,400 in June. The number of individuals within the industry seeking work reached over 14,000, or 32%.
Unemployment is being pushed up due to the growing number of firms cutting jobs. In fact, many european banks and security firms - including UBS, HSBC, Credit Suisse, Barclays and the Royal Bank of Scotland - are all eliminating thousands of jobs in an effort to cut back after reported declines in returns on investment banking.Read more »
BUSINESS August 12, 2011 | 8:52 AM
Americans are canceling cable and satellite television subscriptions in record numbers, totaling a loss of nearly 196,000 subscribers in April and June reports the Associated Press.
A year ago, US television subscriptions showed a small net loss but they have now dropped considerably thanks to rising unemployment and economic pressure. Craig Moffett, an analyst at wealth management firm Sanford C. Bernstein in New York, told the Washington Post that rising pay TV prices plus the availability of lower-cost alternatives (like Netflix and Hulu) are a harmful combination for the industry when economic troubles put disposable income on the decline.Read more »
BUSINESS August 11, 2011 | 5:18 PM
Just three weeks after the launch of a version of its Google+ social network for the Apple iPhone, Google has released an update to the application that extends support to include the successful iPad tablet computer and the iPod Touch.
For now, the iPad version of the app is simply a double-resolution version of the iPhone app rather than a native iPad app, but this is still a major step forward from the first release, where iPad and iPod Touch users were not even able to download and install from Apple’s App Store.Read more »
WORLD August 10, 2011 | 6:14 PM
The riots devastating London have now spread to other cities in England, with local residents flocking to social media sites to share stories and discuss damage. Along with Facebook and Twitter, BlackBerry Messenger (BBM) is playing an important role in organizing clean-up efforts.
BBM, which allows encrypted messages to be passed to hundreds of users in just minutes, was first believed to have helped rioters secretly communicate on when and where to meet. The Guardian reported a BBM message was sent during the riot action, instructing: “Everyone in edmanton enfield wood green everywhere in north link up at enfield town station at 4 o clock sharp!!!”Read more »
WORLD August 10, 2011 | 4:25 PM
A 26-year-old man has suffered a fatal gunshot wound in Croydon, South London, marking the first death caused by the riots. Hundreds of others have been injured since the violence began a few days ago, with chaos tearing through the streets of London and now spreading to other major UK cities as youth continue rioting, looting and committing arson.
The unrest comes in backlash to the fatal police shooting of local man Marc Duggan in Tottenham in North London on August 4. A police squad, whose main focus is to investigate gun crime in the capital’s black communities, was following the 29-year-old father-of-three in the course of a planned arrest. It is alleged that Duggan was involved in an exchange of gunfire, but ballistic tests have raised questions as to whether or not Duggan shot at the police.Read more »
ECONOMY August 10, 2011 | 12:47 PM
As the US credit rating downgrade peaked yesterday, concerns are high that the US and European debt crisis might lead to a global double-dip recession.
If so, this time around China may not be in a position to carry the global economy on its shoulders the way it did when it created a stimulus package to buffer the local and international economies. China's annual inflation rate increased to 6.5% in July, while the country's industrial output is growing more slowly than expected.Read more »
FINANCE August 9, 2011 | 6:58 PM
Ethan Allen Interiors Inc. posted its fourth quarter results, which reveal a sales increase of $89 million for the company and a profit gain of 91 cents per share for investors.
Fourth quarter earnings rose from $0.07 per share in quarter three to a pleasing $0.21 per share, with annual earnings reaching $0.58 per share. Its quarterly profit reversed a net loss of over $26 million, or 91 cents per share.Read more »
BUSINESS August 8, 2011 | 6:40 PM
Financial institutions are witnessing increasing competition from alternative payment methods (APMs), which have become a major rival to credit card payments.
There are two main types of APM: online and mobile. Online payments fall into two main categories, which are credit-based and value-added payment gateways. The former extends credit to consumers for whom the benefit is deferred payment; examples include Bill Me Later and PayPal Pay Later.Read more »
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