Monthly Archives: May 2011

Euro eases against dollar (AFP)

Written on May 31, 2011 by Editor - Business News

TOKYO (AFP) – The euro eased against the dollar amid lingering concerns over the European debt crisis, a reversal after weak US economic indicators sent the greenback lower at the end of last week, dealers said. The euro fetched $1.4264 … Continue reading →

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VW motors ahead with MAN-Scania truck merger plan (Reuters)

Written on May 31, 2011 by Editor - Business News

FRANKFURT (Reuters) – German carmaker Volkswagen formally launched its bid for MAN on Tuesday, in a move toward creating Europe’s biggest truckmaker. VW’s chairman Ferdinand Piech has long been itching to combine MAN and Sweden’s Scania to take on the … Continue reading →

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Goldman traded $1.3 billion in Libyan funds: report (Reuters)

Written on May 31, 2011 by Editor - Business News

(Reuters) – Goldman Sachs invested more than $1.3 billion from Libya’s sovereign-wealth fund in currency bets and other trades in 2008 and the investment lost more than 98 percent of its value, the Wall Street Journal reported, citing internal Goldman … Continue reading →

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EU works on Greek bailout; Germany may ease resistance (Reuters)

Written on May 31, 2011 by Editor - Business News

BRUSSELS/ATHENS (Reuters) – The European Union is racing to draft a second bailout package for indebted Greece to release vital loans next month and avert the risk of the euro zone country defaulting. Germany, which along with some other countries … Continue reading →

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Japan recovery takes hold, but debt downgrade looms (Reuters)

Written on May 31, 2011 by Editor - Business News

TOKYO (Reuters) – Japan’s economy offered more signs of recovery from the deadly March earthquake on Tuesday, but Moody’s ratings agency warned both growth and government action may fall short of what is necessary to bring Tokyo’s ballooning debt back … Continue reading →

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Japan jobless rate rises, factory output anemic

Written on May 31, 2011 by Editor - Finance Top Stories

People walk around Shinbashi train station in Tokyo Tuesday, May 31, 2011. Japan’s unemployment rate in April rose for the first time in six months, while the nation’s industrial production rebounded weakly from a record drop following March’s earthquake and … Continue reading →

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Now renting: luxe condos built for the global rich

Written on May 31, 2011 by Editor - Finance Top Stories

The Rental Class has never had it so good. Due to a glut of glitzy condo towers and the need to appease skittish lenders some developers have found a new use for the gilded, clubby preserves once meant for buyers … Continue reading →

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Busche out-sprints Hincapie for US road title (AFP)

Written on May 31, 2011 by Editor - Sports News

GREENVILLE, South Carolina (AFP) – Matthew Busche edged George Hincapie in a sprint finish Monday to win the USA Cycling national pro road race title. Busche and Hincapie were part of a final breakaway of four riders. Hincapie appeared to … Continue reading →

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Euro at 3-week high vs dollar, Japan data lifts Nikkei (Reuters)

Written on May 31, 2011 by Editor - Stock Markets News

SINGAPORE (Reuters) – The euro hit a three-week high versus the dollar on Tuesday on a report that Germany could make concessions on efforts to put together a bailout for Greece, while Japanese shares rose on data suggesting industrial activity … Continue reading →

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FTSE adds 0.67% at open (AFP)

Written on May 31, 2011 by Editor - Stock Markets News

LONDON (AFP) – London stocks rose in opening deals on Tuesday as investors returned from a three-day holiday weekend. The capital’s benchmark FTSE 100 index of top shares added 0.67 percent to 5,978.35 points, following a bank holiday the previous … Continue reading →

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