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Renesas aims to sell chip plant, shed 12,000 jobs: source

Sat, 26 May 2012 07:28:01 EDT

Japanese chipmaker Renesas Electronics Corp plans to sell off loss-making operations and cut its payroll by at least 12,000, a source close to the matter told Reuters on Saturday, as the company battles high costs and nimbler foreign rivals.

Japan's Renesas eyes 14,000 job cuts, chip plant sale: Nikkei

Sat, 26 May 2012 00:42:01 EDT

Struggling Japanese chipmaker Renesas Electronics Corp is planning to slash as many as 14,000 jobs and sell a major semiconductor factory in Japan to Taiwan Semiconductor Manufacturing Co, the Nikkei newspaper reported.

After 24 Years In Myanmar, New Doors Open For Aung San Suu Kyi

Fri, 25 May 2012 06:04:38 EDT

When Aung San Suu Kyi left her husband and children in England to visit her ailing mother in Myanmar 24 years ago, she never imagined that she'd be stuck inside the Southeast Asian country for 24 years. Now, she will leave Myanmar for the first time since 1988.

Renesas says to tie up with TSMC in chip business

Thu, 24 May 2012 07:14:02 EDT

Japan's loss-making Renesas Electronics Corp said on Thursday it will tie up with Taiwan Semiconductor Manufacturing Co in the microchip business as it struggles to keep up with aggressive rivals like Samsung Electronics.

Lady Gaga's Rolex Watch Jibe Outrages Fans in Thailand

Thu, 24 May 2012 05:45:34 EDT

Pop superstar Lady Gaga is accused of insulting Thailand's image by saying that she wants to buy counterfeit goods in its capital, Bangkok.

Why Did Eva Mendes Confront Ryan Gosling About Their Relationship?

Tue, 22 May 2012 22:58:42 EDT

Although they have recently been rumored to have ended their relationship, apparently Eva Mendes and Ryan Gosling are still together. However, one of them is not yet ready for a serious commitment.

Lok Sabha Speaker Meira Kumar Travelled Overseas 29 Times in 35 months

Tue, 22 May 2012 09:49:00 EDT

In the last 35 months Lok Sabha Speaker Meira Kumar had travelled overseas 29 times since joining the office, according to information revealed under the Right to Information Act. During the last 35 months around Rs. 10 crore were spent as Kumar visited 28 countries as head of parliamentary delegations.

Third of Malaria Drugs Fake or Sub-Standard in Asia and Africa

Tue, 22 May 2012 05:04:41 EDT

Study suggests battle against malaria undermined by fake and poor quality drugs across Southeast Asia and sub-Saharan Africa.

Global ad group WPP bets on Myanmar as sanctions lifted

Mon, 21 May 2012 09:35:03 EDT

WPP has become the first foreign advertising group to invest in Myanmar since Western sanctions were lifted, betting on a flood of demand from multinational companies wanting to market their goods and services.

Foetuses Wrapped in Gold Foil for Black Magic Seized in Thailand; Briton Arrested [PHOTOS]

Sat, 19 May 2012 07:10:35 EDT

Remains of six foetuses wrapped in gold leaf, believed to have undergone a black magic ritual, were seized from a travel bag in a Bangkok hotel on Friday, Thai police said in a news conference while showing the corpses.

Kate Middleton Graces Queen’s Diamond Jubilee Lunch: Clues to Duchess’ Fashion Statements

Sat, 19 May 2012 06:15:17 EDT

The bottom line, whether it is casuals or formals, high street or low key, Kate Middleton knows how to carry it off.

Roasted Foetuses in Buddhist Occult Rituals: What is Kuman Thong?

Fri, 18 May 2012 11:13:04 EDT

Arrest of British man Chow Hok Kuen in Thailand attempting to smuggle foetuses lifts lid on Kuman Thong occult practices

Roasted, Black Magic Foetuses Wrapped in Gold Leaf: Briton Chow Hok Kuen Arrested in Thailand

Fri, 18 May 2012 07:56:07 EDT

A British man, Chow Hok Kuen, has been arrested in Thailand after attempting to smuggle in seven roasted foetuses wrapped in gold leaf.

Dead Tigers Discovered in Thailand Freezer

Thu, 17 May 2012 07:46:21 EDT

Carcasses of tigers and other big cats discovered in raid on suburban home in Bangkok.

HSBC turnaround on target, sees revenue boost

Thu, 17 May 2012 06:14:04 EDT

HSBC doubled the annual revenue boost expected from its turnaround plan to $2 billion, as Europe's biggest bank targets emerging markets and cost cuts to lead its battle to recover from the financial crisis and cope with new regulations.

HSBC says turnaround plan on target, costs cut by $2 billion

Thu, 17 May 2012 01:14:02 EDT

HSBC , Europe's biggest bank, said it has made sustainable cost savings of $2 billion (1.25 billion pounds) after one year of a 3-year turnaround plan, and is on target to meet its return on equity and other financial targets.

US Slaps Sanctions On Dawood Ibrahim's Aides; Designated As Key Drug Traffickers

Wed, 16 May 2012 02:28:22 EDT

US authorities on Tuesday issued sanctions on Chhota Shakeel and Ibrahim "Tiger" Memon in a bid to restrict drug trafficking and illegal financial operations carried out by them

Tech Risks? Disasters, Failure To Innovate Rank High: BDO Survey

Tue, 15 May 2012 14:07:46 EDT

In 1999, Andrew Grove, then Chairman of Intel (Nasdaq: INTC), the No. 1 chipmaker, published a bestseller, “Only the Paranoid Survive.”

Bundesbank Confirms German Gold Held By FED, BOE and Banque De France

Tue, 15 May 2012 06:21:03 EDT

Germany's Bundesbank confirmed yesterday that the German gold reserves are held overseas by the Federal Reserve, the Bank of England and the Banque de France. There has been a lack of clarity and transparency regarding the German gold reserves, as there are with many other nations gold reserves, and this had led politicians and journalists seeking transparency.

Macquarie, UOB place bids for ING Asia arm: sources

Tue, 15 May 2012 02:14:02 EDT

Macquarie Group , U.S.-based Principal Financial Group and Singapore's United Overseas Bank are among suitors that have submitted bids for ING's Asian asset management business in a deal that may be worth around $500 million to $600 million, said sources familiar with the matter.

Kimberly Spradlin Wins 'Survivor,' 5 Things To Know About Bridal Shop Owner [VIDEO][PHOTOS]

Mon, 14 May 2012 13:30:23 EDT

The 24th season of "Survivor' came to a close on Sunday night when Kimberly Spradlin won the final vote, broadcast live by CBS. Spraldin will go home with one million dollars for winning seven out of nine votes from a jury of fellow contestants, plus another $100,000 for winning the title of "fan favorite" from viewers at home.

RIM To Launch 15 BlackBerry Premium Stores In India

Mon, 14 May 2012 04:34:44 EDT

Research in Motion (RIM) has reportedly set its eyes on India and other growing Asian markets.

First Look: Sunny Leone Shoots For Condom Ad [PHOTO]

Sat, 12 May 2012 05:22:32 EDT

Indo-Canadian adult movie star Sunny Leone, who shot for a Condom ad last month, has posted a glimpse of the ad on her twitter page

China-Philippines Standoff Likened To David Vs Goliath: Safety Alert Issued Over South China Sea Protests

Fri, 11 May 2012 09:11:14 EDT

Hundreds of Philippine protestors took to the streets outside the Chinese embassy in Manila demanding China to withdraw its ships from the region.

Sony Shares Fall to 32-Year Low as Heavy Losses Scare off Investors

Fri, 11 May 2012 08:19:56 EDT

Sony share price fell seven percent to a 32-year low after the company reported record annual losses for 2011.

Gold 'Will Go To 3,000 Dollars Per Ounce' - Rosenberg

Fri, 11 May 2012 07:35:02 EDT

Highly respected economist and strategist David Rosenberg has told that Financial Times in a video interview (see below) that gold "will go to $3,000 per ounce before this cycle is over." Markets are repeating the downturns of 2010 and 2011 and it is time to search for safety, David Rosenberg of Gluskin Sheff tells James Mackintosh, the FT Investment Editor.

Sony Disappoints Anew, Reports Billions in Annual, Q1 Losses

Fri, 11 May 2012 04:54:01 EDT

Sony Corp, once the envy of its rivals, chalked up anew billions in yearly losses, pointing to the sagging fortune of the Japanese firm that once crafted consumer electronic products that became ubiquitous in global households.

Glencore, others accused of paying bribes in EU case

Thu, 10 May 2012 11:56:02 EDT

A subsidiary of commodities trader Glencore has been accused of paying an EU official's bumper phone bills and laying on a French holiday to secure market-sensitive information, according to court documents relating to a Brussels corruption case.

Jackie Green Becomes First Transgender To Enter Miss England Semi-Final; Will She Create History By Winning The Beauty Pageant? [PHOTOS]

Thu, 10 May 2012 08:51:32 EDT

Jackie Green, the British teenager who made history by having sex change at the age of 16, is now looking forward to win Miss England after entering into semi-final of the beauty pageant.

Sony Posts Record Loss of £3.5bn, But Forecasts Profitable 2012

Thu, 10 May 2012 06:38:09 EDT

Sony has recorded a £3.5bn loss for 2011, beating its own forecast, but predicts a return to profits for the coming year.

Sony Reports Record Loss, But Forecasts A Return To Profit

Thu, 10 May 2012 05:35:17 EDT

Consumer electronics and entertainment giant Sony Corp reported Thursday a record net loss for the fiscal year ended March but pinned hopes on a restructuring strategy to return to profit this year.

Toyota Quarterly Earnings Up 500%, Shares Soar Despite Hard Fiscal 2012

Wed, 09 May 2012 12:14:33 EDT

Toyota Motor Corporation (NYSE: TM) reported a 30 percent drop in income for its fiscal year ended March 31, but the company is nevertheless making headway down the road to recovery from last year's earthquake in Japan and floods in Thailand as income for January-March 2012 increased by a factor of five.

Toyota Profit Climbs Amid Improving US Market

Wed, 09 May 2012 06:06:40 EDT

Japanese automaker Toyota Motor Corp said Wednesday that its net profit for the three months ending March 31 surged five times compared to a year earlier as the car market picked up in the US.

Sex-Change Teenager Jackie Green Reaches Semi-Finals of Miss England

Tue, 08 May 2012 11:34:54 EDT

Transgender model Jackie Green is in the running to win Miss England

Thailand: ‘Uncle SMS’ Amphon Tangnoppakul, Jailed for Text Insult of Queen Sirikit, Dies in Prison

Tue, 08 May 2012 06:34:07 EDT

Thai man serving record 20-year sentence for breaking Thailand’s strict lese-majesty laws has died.

Toshiba Q4 Net Profit Down 63%; Recovery Expected This Year

Tue, 08 May 2012 05:26:36 EDT

Japanese technology conglomerate Toshiba Corp said Tuesday that its net profit for the three months ending March 31 declined 63 percent from a year earlier on a strong yen and weak global sales of digital products.

Toshiba sees rebound as Apple leads demand for NAND

Tue, 08 May 2012 04:49:02 EDT

Unlike many beleaguered constituents of Japan Inc, Toshiba Corp, has reason to cheer ballooning sales at Apple Inc - millions of the iPhones it sells are loaded with NAND flash memory made by Japan's last big chip maker.

Asia helps Deutsche Post beat first quarter expectations

Tue, 08 May 2012 04:21:02 EDT

Deutsche Post DHL was upbeat on the rest of the year after new contracts and demand for express delivery services in Asia helped beat expectations for sales and profit in the first quarter.

Toshiba sees op profit rising 45 percent this year

Tue, 08 May 2012 03:28:02 EDT

Japan's leading chip maker Toshiba Corp <6502.T> said on Tuesday it expects a 45 percent jump in profits this business year on Tuesday, boosted by robust demand for its flash memory chips used in blockbuster Apple iPhones.

Asia unit helps Deutsche Post beat first quarter expectations

Tue, 08 May 2012 02:00:04 EDT

Deutsche Post DHL reported better than expected quarterly results and confirmed its outlook on Tuesday, citing its strong express delivery and supply chain business in Asia.

Myanmar needs policy reform for growth - IMF

Mon, 07 May 2012 23:49:02 EDT

Myanmar is set for economic take-off and faces an historic opportunity to launch growth that would lift living standards - if it pursues the right policy mix, the IMF said on Monday.

Mazda Says 107 Employees Have Accepted Its Buyout Offer

Sun, 06 May 2012 07:58:51 EDT

Mazda announced Friday that several dozens of its US employees had agreed to the voluntary buyouts as a part of the automaker's effort to make profits.

Shah Rukh Khan To Romance Kajol In Karan Johar's Next?

Sun, 06 May 2012 05:11:05 EDT

For those who missed seeing Shah Rukh Khan and Kajol together, there is good news. The most loved onscreen couple in Bollywood might be back together for a new movie.

Buffett tries to assure on Berkshire succession

Sat, 05 May 2012 13:07:02 EDT

Warren Buffett assured shareholders of Berkshire Hathaway Inc that the company will be in good hands after he steps down, trying to allay fears about Berkshire's succession plan after revealing he had prostate cancer.

Malaysia's Minimum Wage: Boon For Workers, Obstacle For Small Businesses

Sat, 05 May 2012 12:34:23 EDT

In accordance with global May Day celebrations, the Southeast Asian nation of Malaysia has introduced a minimum wage for the first time, following a decade of pressure by labor unions.

Pre-Market Movers (DGI, LNKD, VE, DB, DOW, NRF, SDRL, AIG)

Fri, 04 May 2012 07:28:49 EDT

The companies whose shares are moving in pre-market trade Friday are: DigitalGlobe Inc, Linkedin Corporation, Veolia Environnement, Deutsche Bank, The Dow Chemical Company, Northstar Realty Finance Corp and Seadrill Ltd American International Group Inc.

Asia Currency Outlook: RMB, Baht, Peso, Won

Thu, 03 May 2012 08:14:45 EDT

China's yuan gained the most in two weeks before a Sino-U.S. strategic economic dialogue in Beijing tomorrow that may include discussions on whether the Chinese currency is undervalued. It appreciated 0.05 percent to 6.3070 per dollar in Shanghai.

ADB: Economies of China, India, Asean to Outperform US, Western Counterparts in 2030

Thu, 03 May 2012 00:02:27 EDT

Unlike their US and Western counterparts whose economies have been largely saddled by the global fiscal uncertainty, China and India, along with members of the ASEAN (Association of Southeast Asian Nations) group, have been forecast to continue their growth of momentum well beyond year 2030.

BG Group Raises LNG Profit Outlook, Targets 7% Annual Growth in Production Till 2020

Wed, 02 May 2012 07:58:39 EDT

According to Shore Capital, BG Group is likely to be the major British large-cap gaining from rising oil prices as integrated oil peers 'struggle for the same degree of leverage' to the rising cost of crude.

May Day: Malaysia Introduces Minimum Wage, But Not Everyone Is Pleased

Tue, 01 May 2012 15:18:20 EDT

Critics complain that the minimum wage will hurt small business owners and the country’s competitiveness.