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High-Speed Rail

China's Railway Dreams Dashed As Top Official Removed

Graft and debt are crippling China's railway industry and eroding trust in the government's management of a crucial sector of transportation -- and may kill the dream of becoming the world's leader in high-speed trains
Eduardo Saverin

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

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.
Vieques Island, Puerto Rico

Puerto Rico Bets On American Tourists To Repay Debt

Americans have long been in love with Puerto Rico's high-yielding municipal bonds. Now the Caribbean island hopes they will flock to its sand, surf and spanking new resorts to help pay off massive debts.
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'Somali Terror Plot' Uncovered In Denmark

The Danish Security and Intelligence Service (PET) arrested two men Monday evening in connection with an alleged terror plot, who have suspected links to the radical Islamist group Al-Shabaab in Somalia.
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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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