Global recession ending: OECD
The global recession is coming to an end faster than thought just a few months ago and may already be over, according to forecasts published by the Organization for Economic Co-operation and Development on Thursday. Read Full Article here.
Lufthansa exec says industry losses could top $9 billion
Global airlines' losses this year could exceed industry body IATA's estimate of $9 billion as no improvement across the sector is in sight so far, Deutsche Lufthansa's management board member Stefan Lauer said. Read Full Article here.
Morgan Stanley, Moody's, S&P must defend fraud claims
A U.S. federal judge ruled that Morgan Stanley and two credit rating agencies must defend fraud charges in a class-action lawsuit accusing them of masking the risks of an investment linked to subprime mortgages, and which eventually collapsed. Read Full Article here.
Dainippon to buy U.S. drug firm Sepracor for $2.6 billion
Dainippon Sumitomo Pharma Co Ltd <4506.T> agreed on Thursday to buy U.S. drugmaker Sepracor Inc for $2.6 billion, giving the Japanese firm a big, local sales force in the world's largest drugs market. Read Full Article here.
Cerberus to ban withdrawals from two new funds: report
Cerberus Capital Management LP will prohibit investors in two new hedge funds from withdrawing money for three years, the Financial Times said on Wednesday quoting executives from the firm. Read Full Article here.
Viewers hunger for Web and TV at same time: study
U.S. television viewers are increasingly turning on the Web, tuning into television and not missing a beat on either, as simultaneous TV and Internet use continues to rise, research firm Nielsen said on Wednesday. Read Full Article here.
Twitter snags former Google exec for COO
Microblogging service Twitter has tapped a former Google Inc executive to be its chief operating officer, the latest move by the fledgling but fast-growing company to build out its management team as it seeks to start making money. Read Full Article here.
Costco and Limited beat August sales estimates
U.S. retailers reported August sales that showed some signs that the economic downturn was easing, but a late Labor Day holiday and muted consumer enthusiasm weighed on results in the key back-to-school season. Read Full Article here.
Not enough Facebook friends? Buy them
Who says you can't buy friends? An Australian online marketing company is selling friends and fans to Facebook members after offering a similar service to Twitter users. Read Full Article here.
LG Elec to unveil new Windows mobile phones
LG Electronics Inc, the world's third-largest mobile phone maker, said on Thursday it would launch three new smartphones in the next few weeks that run on Windows software. Read Full Article here.
Monster U.S. online jobs index soars in August
A monthly gauge of U.S. online labor demand soared in August at its fastest pace in four years, indicating steadier footing for nationwide labor demand, a private research group said on Thursday. Read Full Article here.