BUSINESS

Junk beckons after S&P negative shift for Hungary

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Standard and Poor's has placed Hungary's sovereign rating on negative credit watch, citing unpredictable policy moves and a weak growth outlook and increasing the chances of a cut to junk status also threatened on Friday by fellow agency Fitch.
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Italy braces for new government, IMF warns Asia on euro

Italy's parliament was set to approve austerity measures on Saturday, triggering the formation of an emergency government to replace that of Prime Minister Silvio Berlusconi, and meeting European Union demands to avert a euro zone meltdown.
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Fed's Yellen urges Europe to act on crisis

The euro zone's debt crisis could substantially damage the U.S. economy if not contained, the Federal Reserve's No. 2 official warned on Friday as she urged bold action by Europe.
NASA Mars Mission Set to Mark Australian Significance on ‘Martian Landmarks’

NASA to Launch New Space Craft to Mars

NASA is preparing to launch its largest and most advanced Mars rover at the end of the month. It will spend nearly two years examining areas of the Red Planet.
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Mizuho Financial to cut 3000 jobs: report

As part of the restructuring related to the merger of its two banking units, Mizuho Financial Group Inc will cut 10 percent of its workforce, or 3,000 jobs, by end of fiscal 2015, The Nikkei said.
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Fed to begin new bank stress tests in weeks: Yellen

The Federal Reserve will begin a new round of bank stress tests in a couple of weeks, a top Fed official said on Friday, warning that strains from Europe's debt crisis threaten the U.S. economy and financial system.
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California Oct. Revenue Misses Forecast by $810.5 mln

California's revenue in October came in $810.5 million below its projected level in the state budget, increasing pressure on its leaders to impose more spending cuts to keep the state's books balanced, the state controller said on Thursday.
Underground mining machine

Gold Falls As Investors Sell to Raise Cash

Gold fell on Thursday, on track for its biggest one-day loss in two weeks, as fearsabout political turmoil in Italy and a deepening euro zone debt crisis prompted investors to raise cash by liquidating somepositions in the bullion market.
iOS and Android to Receive Xbox Live Game – Is Microsoft Shooting Itself in the Foot?

Rumor Roundup: Xbox 720

In the wake of two of Xbox 360's greatest games, rumors have begun to surface about the next generation of the Xbox, the Xbox 720.
The Phobos-Grunt (Phobos-Soil) Spacecraft in Baikonur Cosmodrome

Russian Spacecraft with Mission to Mars in Deep Trouble

Phobos-Grunt, Russia's space probe to the Martian moon Phobos, is stuck in orbit Wednesday. Officials cite equipment failure as the problem, raising new fears that the probe could release toxic fuel as it falls back towards earth, unless engineers are able to steer it back on track.
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Lionsgate sued for hair debacle

Many people would -- and some have probably tried to -- sell their own mothers in order to get into a major motion picture. Not Bilal Ahmed.
This radar image of asteroid 2005 YU55 was generated from data taken in April of 2010 by the Arecibo Radar Telescope in Puerto Rico.

Big Asteroid Has Close Encounter with Earth

A black asteroid as big as an aircraft carrier zoomed past Earth on Tuesday, delighting astronomers who trained telescopes on the ancient body in hopes of learning more about its composition and origin.
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American Apparel posts narrower Q3 loss

Troubled retailer American Apparel Inc (APP.A) reported a narrower third-quarter loss, helped partly by lower operating expenses, and said it expects to improve its performance in the fourth quarter and next year.

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