Business and Finance News

Nigerian president warns that oil developers will flee
The Cambodia News.Net
President Umaru Musa Yar'Adua of Nigeria has visited the town of Yenagoa in the Niger Delta region.
New man at the helm of Fiat
The Cambodia News.Net
In Italy, it has been announced that John Elkann will become the new head of Fiat, at the age of 32.
Real estate plan for new Abu Dhabi stock exchange
The Cambodia News.Net
A new multi-billion dirham real estate development has been announced for Sowwah Island in Abu Dhabi.
Egyptian finance companies consumed by Global
The Cambodia News.Net
Cairo based companies, Egypt Capital Trust and Misr International Securities have been taken over by leading international investment firm Global Investment House.
British Airways on the lookout for new blood
The Cambodia News.Net
British Airways has ignited fresh speculation over the continuing role of Willie Walsh, the airline's chief executive.
Venezuela and China in new oil venture
The Cambodia News.Net
Venezuela and China have signed deals for a joint venture to produce oil in Venezuela's Orinoco area to supply a new 400,000-barrel-a-day refinery that will be built in China.
Overseas funds help build Qatar desalination plant
The Cambodia News.Net
Gas-rich Qatar has signed deals to build a US$3.8 billion-dollar desalination and power plant.
Australian budget will penalise the rich
The Cambodia News.Net
Australia’s Federal Budget, which will be handed down on Tuesday, will include higher taxes for luxury cars.
IndyMac Bancorp swings to 1st-qtr loss, sees 2008 loss
Seattle Post-Intelligencer
IndyMac Bancorp Inc. swung to a loss in the first quarter as deteriorating credit markets forced the mortgage lender to lower the value of...
Wal-mart to serve Latin American fried chicken
CNN Money
The world's largest retailer starts serving a Latin American fried-chicken favorite, Pollo Campero, to expand its reach to the nation's growing Hispanic population.
Wachovia hires general counsel from Citigroup
Business Journal
... has hired a new general counsel. Jane Sherburne, currently general counsel for Citigroup's global consumer group, will assume the new role this summer. She will succeed Mark Treanor, who will...
Microsoft boosts XP on budget PCs
BBC
Microsoft is cutting the cost of putting Windows XP on low cost laptops. The price cuts will only be available for ultra-portable laptops that meet a strict set of specifications. The move is...
Stocks fluctuate as oil falls, dollar advances
San Diego Union-Tribune
NEW YORK &#8211; Wall Street fluctuated in a narrow range Monday, giving up a modest early advance as oil prices ticked lower and the dollar rose. The market's concerns about rising inflation and...
Microsoft appeals against EU fine
Arabian Business
Microsoft has announced an appeal against the 899m euro($1.39m) fine levied on it by the European Commission for anti-competitive practices. The latest fine was imposed after Microsoft failed to...
Clear Channel trial delayed till Tuesday
Reuters
The banks that had been trying to pull out of the funding for the $20 billion buyout of Clear Channel Communications...
Bonds up as investors await week
Tampa Bay Online
Treasury prices rose Monday as fixed-income investors secured positions before a number of key economic reports to be released in the coming days.
Microsoft exec Jeff Raikes to run Gates Foundation
Associated Press
The world's largest charitable foundation has been looking for a new leader since chief executive Patty Stonesifer announced in February that she would be stepping down.
IndyMac loss steeper than expected, shares fall
Reuters
Research ), one of the largest independent U.S. mortgage lenders, posted a first-quarter loss on Monday as it wrote down bad mortgages and grappled with the cost of cutting jobs and closing offices.
Wachovia says cutting fixed-income jobs
Reuters
Research ) Chief Executive Kennedy Lewis on Monday told investors his hard-hit U.S. regional bank was cutting back corporate and investment bank jobs to reduce costs amid the ongoing market slump.
Price Rises Could Turn You Into A Basket Case
Sky News
Filling basket is a pricier business A basket of 24 common supermarket items such as tea bags, potatoes and pasta sauce costs 19.1% more than it did 12 months ago, according to a survey.The...
Alliance Laundry reports earnings increase
Business Journal
Alliance Laundry Holdings LLC, the Ripon manufacturer of Ajax, Huebsch and Speed Queen commercial laundry equipment, reported its first-quarter earnings rose because of greater sales volumes and...
Wall Street Gains On Stronger Dollar
WBZ
NEW &#8213; Wall Street advanced moderately Monday as a rising dollar cooled some concerns about inflation and helped keep oil prices in check. The Dow Jones industrials at times rose...

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