BUSINESS

Eduardo Saverin Speaks Out; 'I Will Pay Hundreds Of Millions Of Dollars In Taxes To The American Government,' Says Facebook Co-Founder

Eduardo Saverin
Facebook co-founder Eduardo Saverin has been pretty uncommunicative ever since the details of his flashy Singapore lifestyle, along with the renouncing of his American citizenship, made news headlines. But that all changed recently when Zuckerberg's former business partner, now a newly made billionaire thanks to the Facebook IPO, sat down for an interview with a magazine from his family's native Brazil.
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Texas Manufacturing Strong In May: Dallas Fed

Texas manufacturing grew in May while the state's production index was steady, indicating sustained growth from the month before, although the outlook is poor, the Federal Reserve Bank of Dallas said Tuesday.
Libya cost of war

After Civil War, BP Returns To Libya

After the Libyan civil war last year call but halted the country's oil and natural gas industry, BP on Tuesday announced it will resume its exploration work in the biggest oil-producing nation in Africa .
Facebook

Facebook Shares Plunge To New Lows

Shares of Facebook (Nasdaq: FB), the No. 1 social network, fell to a new low following its $16 billion May 17 initial public offering.
US Consumer Sentiment

US Consumer Confidence Slumped in May: Report

U.S. consumer confidence dropped in May for the second consecutive month, and the expectations index likewise fell, suggesting that economic growth is slowing, the Conference Board said Tuesday.
Buffett-backed BYD opens up 22 pct after $219 mln China IPO

Chinese BYD Shares Bungee After Fatal Electric Car Crash

Shares of Chinese electric carmaker BYD Company Ltd. (Hong Kong: 1211), which is partially owned by Warren Buffett, recovered some of the losses suffered after one of its e6 electric cars caught fire in a crash which killed three people in southern China.
US Stocks

Global Equities Advance, U.S. Data Eyed

European stocks recovered from early losses Tuesday as traders anticipate the U.S. data to show improving consumer confidence and a stabilizing housing market. Meanwhile, Asian equities rallied for a second straight day on hopes that China may introduce further stimulus policy. U.S. index futures rose.
Indian Rupee

Fall In Rupee Won't Hurt India's Ratings: Moody's

Global rating agency Moody's on Monday said that the steep depreciation of rupee against a dollar will not affect India's sovereign ratings negatively. However, it added that private sector companies with huge overseas debts will be hurt by the slip in the value of the rupee.
Mark E. Zuckerberg, CEO of Facebook

Facebook Phone: How Mark Zuckerberg Could Beat iOS, Android With A Truly Social Smartphone

Since Mark Zuckerberg launched Facebook in 2004, the social network has become one of the most important centerpieces in society, especially as it becomes increasingly digital and mobile. Yet, the value of Facebook has not yet translated to revenue dollars. That may change, however, if Facebook decides to build its first-ever piece of hardware: A Facebook smartphone.
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'Agent Orange' Judge Weinstein Gets Memorial Day Honor

U.S. District Court Judge Jack B. Weinstein, 90, best known for settling the Agent Orange cases stemming from the Vietnam War, was honored as grand marshal of the Memorial Day Parade at home in Great Neck, N.Y. Monday.
An employee fills a car with petrol at a gas station in Jammu February 26, 2010. India will raise petrol and diesel prices from Friday midnight, Oil Secretary S. Sundareshan told reporters.

India Rules Out Hike In Diesel, Kerosene and LPG Prices

Indian government bowing to the political pressure has decided not to hike diesel, Kerosene and LPG prices for the time being. The ruling UPA government is still fighting the fallout of its unpopular decision to steeply increase the petrol prices last week, as the opposition parties as well as some of its own allies are demanding a rollback.
Syria

UN Speaks Loudly On Syria, But Doesn't Carry A Big Stick

The atrocities committed in the Syrian village of Houla on Friday -- when dozens of men, women, and children were killed, and hundreds more were wounded -- were condemned in the strongest possible terms by the United Nations Security Council on Sunday.

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