BUSINESS

Tighter bank financing is the big threat to shipping companies, and many are looking at alternative sources of funding such as private equity to fill gaps amid a worsening credit squeeze, a transport survey showed on Friday.

State Street Corp has hired former Bank of America Corp's executive Dan McNicholas as head of sales for its alternative investment servicing business in the Asia Pacific region.

Greek workers went on strike against austerity measures on Friday, docking ships and halting public transport, hours after euro zone finance ministers said Athens needed to make more cuts to convince them to release a financial bailout.

British bank Barclays warned it may miss its medium-term profitability target after it ended 2011 with its worst quarter for three years as the euro zone debt crisis hit bond trading, dragging its annual profit down on the year before.

If anyone can pull off the labyrinthine deal between Alibaba Group and Yahoo Inc, it is Jack Ma, who founded the e-commerce group and within a decade unlocked China's huge online shopping potential.

Stocks and the euro fell while safe-haven government bonds rose on Friday as final approval of a long-awaited Greek debt deal remained elusive, keeping alive the threat of a messy default.

Trying to track China's economic course during the Lunar New Year can leave analysts howling at the moon. January auto sales tumbled, yet oil imports were the third highest on record. A measure of factory activity picked up, but trade data was weak.

Josh Powell reportedly told his children - Charles, 7, and Braden, 5 - that he had a 'big surprise' for them as he took them inside the house in Graham, about 25 miles southeast of Tacoma, only to butcher them with a hatchet. He also set the house on fire, killing himself on Sunday Feb 5. The gripping details of the twin-murder were revealed by social worker Elizabeth Griffin-Hall as she spoke to the ABC News on Thursday.

North Korea's Ryugyong hotel, described the worst building in the history of mankind, by Esquire magazine, is set to open partially for business this spring, 23 years behind the schedule, Yonhap news agency in Seoul reported.

Wynn Resorts Ltd, the $15 billion gaming empire of Las Vegas tycoon Steve Wynn, may be forced to give its biggest shareholder access to its financial papers, a U.S. judge has ruled, the latest turn in a case that has transfixed the casino world with implications for the company's control.

Chinese e-commerce company Alibaba Group plans to take its Hong Kong-listed unit private, two sources familiar with the matter said, and is working with Yahoo on an asset-swap deal that may result in Yahoo owning a direct stake in one of Alibaba Group's operating businesses.

“I dress for the image. Not for myself, not for the public, not for fashion, not for men,” uttered Marlene Dietrich, the inspiration for Tadashi Shoji’s Fall 2012 Mercedes-Benz Fashion Week show in New York on Thursday drawn from her role in the 1932 film, Shanghai Express. Shoji took revelers on a ride on the Shanghai Express with luxurious fabrics of lace, chiffon, silk and lightweight velvet, capturing the beauty of the golden age of Shanghai.

Chinese e-commerce company Alibaba Group plans to take its Hong Kong-listed unit, Alibaba.com , private, two sources familiar with the matter told Reuters.

Greece's debt crisis on Thursday dominated the first day of Italian Prime Minister Mario Monti's visit to the United States, as he urged the International Monetary Fund to be more lenient with Athens in bailout talks to prevent a big potential explosion.

Activision Blizzard Inc's quarterly sales beat Wall Street expectations on Thursday as the video game publisher lost fewer World of Warcraft subscribers than it did a quarter ago.

Internet service providers are not broadcasters, and don't need to adhere to strict rules designed to boost Canadian content on domestic television and radio, the Supreme Court of Canada ruled on Thursday.

Greek political leaders clinched a long-delayed deal on austerity measures required to secure a second bailout in two years but the country's skeptical lenders demanded more cuts and a parliamentary seal of approval before providing any aid.

When Nissan first introduced the 2013 version of a revamped Pathfinder in January at the 2012 North American International Auto Show in Detroit, it was missing, well, an interior.

The Czech National Bank launched an iOS app that will help people tell if their cash is counterfeit or not. It's marketed to tourists who may not know what real Czech cash and coins look like. Using the camera on an iPad, iPod or iPhone, the app can tell if the security elements are in the right place or even there at all.

When commodities brokerage MF Global imploded, the FBI and federal prosecutors were quick to launch an investigation to pursue what seemed obvious to outspoken regulators and lawmakers: laws were broken and crimes were committed.

Professional networking service LinkedIn's outlook for the current quarter and the full year surpassed expectations as the company banks on continued strong product and subscription growth after its fourth-quarter revenue beat estimates.

The Federal Reserve announced on Thursday it has reached an agreement with five U.S. banks on penalties totaling $766.5 million over problems in their mortgage servicing businesses as part of a larger $25 billion foreclosure deal struck between the banks and state and federal agencies.

The Federal Reserve announced on Thursday it has reached an agreement with five U.S. banks on penalties totaling $766.5 million over problems in their mortgage servicing businesses as part of a larger $25 billion foreclosure deal struck between the banks and state and federal agencies.

Stocks rose modestly for a third straight day on Thursday after Greece reached a deal to secure a financial bailout, but investors were cautious after weeks of gains.

Stocks rose modestly for a third straight day on Thursday after Greece reached a deal to secure a financial bailout, but investors were cautious after weeks of gains.

A new contender for the world's tallest building has emerged. Avesta Group's Azerbaijian Tower is set to rise over a kilometer in height, to around 3,444 feet and 189 floors. It would surpass the 2,723-foot Burj Khalifa, currently the world's tallest building, as well as the planned Kingdom Tower.

Stocks edged higher on Thursday after Greece reached a deal to secure a financial bailout, but investors took a wait-and-see attitude in a market that has become extended after weeks of gains.

Oracle Corp agreed to buy Taleo Corp, a maker of Web-based software for recruiting employees, for about $1.9 billion, as technology giants battle for the top spot in the fast-growing cloud computing market.

U.S. banking regulators are using the agreement announced on Thursday between large U.S. banks and state and federal agencies over foreclosure abuses as a vehicle for levying their own fines on banks for problems in their mortgage servicing businesses.