The Iraqi government has finalised a $17 billion deal with Royal Dutch Shell and Mitsubishi, as part of a joint venture to capture flared natural gas from the nation’s southern oilfields, reported Reuters on Sunday.
Network-equipment vendor Nokia Siemens Networks (NSN), announced on Wednesday that it would be cutting 17,000 of its jobs worldwide, or 22 percent of its workforce, as it tries to save up to $1.35 billion a year to compete with its strongest rival Ericsson and a new wave of Chinese entrants.
Share prices for Groupon Inc shrank by more than 15 percent on Wednesday to close at $16.97, well below the $20 asking price of the coupon site’s initial public offering earlier this month.
It was the third straight day in a row that Groupon’s stock price had fallen, with the overall decline over the 3 days reaching up to about 34 percent.
Rock star Bruce Dickinson, lead singer for one of the world’s most popular heavy metal bands Iron Maiden, has promised to resurrect UK chartered airline company Astraeus Airlines, after the company went into administration on Monday due to financial difficulties.
After a year of “drama”, new HP CEO Meg Whitman told investors to lower their expectations as the tech company reported a 91 percent fall in profits.
Just two months after taking over the helm of the ailing company, Whitman announced the grim fourth quarter fiscal results but insisted that the “company has been through a lot.”
In defence, Whitman said “what this company has been through would have felled lesser companies,” and rebuilding needs to be done for the world’s largest technology company by revenue.
Billionaire investor Warren Buffett is looking to make “a big investment” in Japan, after claiming earlier in the year that the March 11 earthquake and tsunami disaster had created a “buying opportunity” for long-term value investments in the country.
Top German automaker Volkswagen AG has set its eyes on becoming the market leader in automobile sales in South China, as the company closes in on the 2 million sales mark of vehicles sold in China this year, said its China chief on Monday.
Volkswagen, which operates car-manufacturing ventures with SAIC Motor Corp and FAW Group, has sold almost 1.9 million vehicles from January to October this year, 14.8 percent more than during the same period in 2010.
Major credit rating agency Standard & Poor’s is set to update the credit ratings status for the world’s 30 largest banks within the next 3 weeks, with numerous high-profile banks believed to be extremely susceptible to a potential downgrade, said a report by Reuters on Friday.
More than 180 airline passengers onboard a chartered flight service from India to the UK were left in shock after flight crew from Austrian airline Comtel Air refused to take off, following a refuelling stop in Vienna, without an additional $31,000 to fund the rest of the flight.
After taking off from the Indian city of Amritsar, the plane landed in Vienna, where the passengers claimed that they were “held to ransom” by the airline, who demanded that every passenger cough up about $200 each, if they wanted to complete their flight to Birmingham, UK.
Late Apple founder and chairman, Steve Jobs, had envisioned a dedicated Apple wireless network for the company’s hugely successful iPhones, similar to the unlicensed spectrum used by Wi-Fi, rather than work with traditional mobile operators.
