International News - Page 25

Did George HW Bush's 'courageous' 1990 tax hike cost him his presidency?

Former US President George HW Bush showed courage in breaking his "read my lips: no new taxes" campaign pledge to broker a 1990 budget compromise that may have cost him re-election two years later, the John F Kennedy Library Foundation said on Sunday.

PayPal exec Rakesh Agrawal leaves after defamatory tweets

He sent several messages on Twitter, which have since been deleted, from a jazz festival in New Orleans that, among other things, specifically insulted Christina Smedley, vice president of global communications at PayPal.<br />

General Motors recalls nearly 52,000 SUVs for faulty fuel gauge

General Motors Co is recalling 51,640 Buick Enclave, Chevrolet Traverse and GMC Acadia SUVs of the 2014 model year because faulty software may cause the fuel gauge to read inaccurately, U.S. regulators said on Saturday.

US prosecutors to drop two of seven fraud charges against Rajaratnam's brother

In a letter to US District Judge Naomi Reice Buchwald late Thursday, prosecutors in the office of Manhattan US Attorney Preet Bharara said they no longer plan to pursue two of the seven counts brought against Rajaratnam in 2013.<br />

Investors burn their fingers as Twitter shares down 50%; Goldman still says 'buy'

Goldman and Deutsche Bank, both underwriters of the high-profile IPO, maintain their positive views of the stock, in spite of the user trends, two consecutive quarters of disappointing results and the decline in its shares

US firm claims Google 'illegally monopolised' internet, sues in antitrust action

The lawsuit alleges that Google has expanded its monopoly of the internet search market by pre-loading its applications onto Android mobile devices through its Mobile Application Distribution Agreements.<br />

Grand deal ahead? Pfizer starts $106 bn takeover talks with AstraZeneca

The renewed discussions suggest that the two sides might be getting closer to striking a friendly deal

In $100 billion AstraZeneca-Pfizer fight, R&D site marks political frontline

Ministers have little ultimate leverage over Pfizer but have insisted in talks this week with the company's boss Ian Read that he push ahead with the planned Cambridge facility if he buys AstraZeneca, according to people familiar with the matter.<br />

Dow ends at record high as Fed upbeat on US economy

That the Fed looked past a dismal reading on first-quarter growth reinforced the view that weather was to blame for the weakness, analysts said.<br />

Fed shows faith in US economy, cuts bond buying program by another $10 bn

The gradual tapering seeks to close an era in which the central bank's balance sheet quadrupled to more than $4.2 trillion through three separate purchase programs launched to battle the financial crisis and the recession and slow growth that followed.<br />

India may resolve Italy's steel troubles: Will Jindal brothers answer Pope Francis' prayers?

Pope Francis earlier this month called for those in power to use their "creativity" to resolve Lucchini's problems. Italy's second-largest steelmaker has tried to sell itself for years but has so far failed to attract investors, forcing it to recently begin idling capacity and putting at risk up to 4,000 jobs.

Facebook woos enterprise marketers with new Business Manager tool

In an attempt to woo enterprise users, Facebook has launched a new Business Manager tool that helps large businesses and advertisers manage their Facebook Pages, apps, ad accounts and permissions, all from one place.

India urges EU to lift ban on mangoes, claims has addressed concerns

The EU informed India in March that shipments of premium Alphonso mangoes would be blocked from May until December 2015 after authorities in Brussels found consignments infested with fruit flies.<br />

Is Twitter losing its lustre?

The micro-blogging company said its 255 million monthly users, on average, appeared to check the service less frequently than a year ago.

Searchers dismiss pvt firm's claim that MH370 wreckage found in Bay of Bengal

The Joint Agency Coordination Centre (JACC) managing the multinational search for the missing plane said it continued to believe that the plane came down in the southern Indian Ocean off Australia.<br />

Twitter's low user growth eclipses better-than-expected Q1 revenues of $250 mn

Although overshadowed by the usage figures, Twitter posted better-than-expected revenues of $250 million. The company, which has been steadily refining its targeting capabilities, also showed signs it is better able to present ads based on what it thinks each user would be interested in, and is thus able to command higher ad prices.<br />

Get this: MIT to experiment with bitcoins, undergrads to get $100 in digital currency

Every undergraduate student at the Massachusetts Institute of Technology next fall will be offered $100 in bitcoins in an experiment that students say will turn the prestigious university into one of the first places on the planet with widespread access to digital currency.

Pakistan to cut PM Nawaz Sharif's electricity for not paying bills

Pakistan's power ministry said on Tuesday it would cut off supplies to major offices, including the prime minister's, in a crackdown on customers not paying their electricity bills.

Decoder: Pfizer's weak drug portfolio is why it's pursuing AstraZeneca

They view the $100-billion gambit for AstraZeneca as a return by Pfizer to the "mega-mergers" of the previous decade that allowed the US company to benefit from huge cost savings and divert shareholder concern over low returns from its research and development.<br />

Samsung Q1 operating profit falls 3.3%, in line with guidance

For January-March, South Korea's largest company by market value said operating profit fell 3.3 percent from a year earlier to 8.5 trillion won ($8.2 billion), versus guidance of 8.4 trillion won.<br />

Wal-Mart lost $151 mn to end its deal with Bharti Enterprises

Wal-Mart Stores Inc paid about $234 million in debt related to the purchase of a stake in its Indian joint venture with Bharti Enterprises, which the US retailer ended in October last year, according to its 2014 annual report.

What do two US-based Indian docs and a criminally charged eBay exec have in common?

Investigators said the resident of Greenville, Delaware, encouraged two relatives and two friends to trade on his tips, leading to more than $300,000 of illegal profits.<br />

Facebook CFO David Ebersman quits

David Wehner, Facebook's vice president of corporate finance and business planning, will succeed Ebersman, on June 1.

Virgin Airlines clarifies plane not hijacked, false alarm due to drunk passenger

A Virgin Blue passenger plane has reportedly been hijacked while on its way to Bali.

Microsoft posts Q1 profit of $5.6 bn; beats Wall Street estimates on Nadella's debut

Investors are excited about Nadella's focus on mobile and cloud, or Internet-based, computing, designed to take Microsoft beyond its traditional PC-based Windows business. Nadella is set to face analysts' questions for the first time in public on a conference call later on Thursday.<br />

ECB prepares ground for asset purchases. But it's still talk

While stressing that the ECB sees inflation remaining low for a prolonged period before rising again, Draghi said the European Central Bank could embark on a broad-based asset buying plan if the euro zone inflation outlook worsens.<br />

This was Bernanke's biggest regret when he stepped down as US Federal Reserve chief

He said one of the challenges still out there is to help people understand why stabilizing the financial system was so important.<br />