Several industry bellwethers like Cisco Systems (Nasdaq: CSCO), Dell (Nasdaq: DELL) ) and NetApp (Nasdaq: NTAP) have reported poor resuilts or forecasts. Hewlett-Packard (NYSE: HPQ) will axe 27,000 people.
Iran will not compromise on the West's demand to stop enriching Uranium to 20 percent, said Fereydoon Abbasi Davani head of Iran's Atomic Energy Organization.
India and Myanmar will be sealing several bilateral pacts including one in the energy sector.
The persistent downturn in the US has taken a toll on mortgage debt in some of the major cities with homes continuing to be underwater about six years after home prices peaked, a recent report reveals.