Australian Dollar: The Aussie dollar traded lower in local trade yesterday weighed down by continued weakness in equity markets and a slide in the Euro. After holding onto
Tom Cruise who plays an anti-Hitler plotter in his new movie Valkyrie said that he grew up wanting to kill the Nazi leader.
European officials are urging Russia and Ukraine to quickly enforce an agreement to resume delivery of natural gas to many of the freezing nations affected by a dispute which has paralyzed supply delivery. Millions of people are enduring heat and cooking gas shortages as well as sub-zero temperatures at this time.
On Wednesday, a new data record showed that China's economy grew to become the world's third-largest in 2007 reflecting the countries amazing ability to overcome yet another milestone in the country's stunning rise in the global pecking order.
The expectation of a quarterly loss of 4.8 billion euro or $6.3 billion means Deutsche Bank will also mark its first full year loss in 50 years.
World governing body FIFA has revealed their latest football world rankings, with the top 14 positions remaining unchanged.
Germany's biggest bank Deutsche Bank AG reported on Monday it estimates a loss of 4.8 billion euro or $6.4 billion on the fourth quarter on what it called exceptional market conditions which impacted sales and trading businesses.
Russia began sending gas to Europe through Ukrainian pipelines on Tuesday, ending nearly a week-long contract standoff that came in the middle of winter. It will take up to 36 hours for the gas to make its way through the pipelines, however a dispute about gas for the Ukraine has not been settled yet.
On Thursday the European Union said that gas supplies would resume after agreeing with Russia on supervising the gas flow through Ukraine.
Adolf Merckle, a German billionaire businessman whose investments ranged from pharmaceuticals to cement, committed suicide in the wake of heavy losses during the current global financial crisis.
German Billionaire Adolf Merckle commits suicide, after being hit by a train, on Monday.
With the slumping global economy, many people are falling into despair amidst the bleak situation.
London based Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after running out of money and failing to find a buyer.
Ford Motor Co. posted a 32% drop in U.S. light-vehicle sales for December while Toyota Motor Co. reported a 37% fall and Honda Motor Co. had a 35% decline, closing out the auto industry's worst year in more than 15 years.
The dollar bounced against the majors at the start of the week, rallying to 1.3555 versus the euro from 1.3962 and edging up to 93.56 against the yen.
Big business is officially going solar.
US coffee chain Starbucks has announced its intentions to open 150 new outlets in Britain, France and Germany in the next three years in a deal with SSP. SSP is a UK group which runs Burger King and Pizza Hut stores.
The UK is to become the subject of disciplinary proceedings from the European Commission as its budget deficit continues to grow.
Five deaths and 720 adverse reactions in the U.K. were linked to the anti-obesity drug Acomplia made by Sanofi Aventis SA, said a regulator in the country.
US media giant News Corporation said Monday it has raised its stake in German pay-television operator Premiere to 25 percent, the second increase since buying into the firm in January.
French pharmaceutical Sanofi Aventis shares slumped near 6 percent on Friday after a generic company in Europe announced it was likely to gain approval for a generic version of Plavix in Germany and Luxembourg.
Chinese Food and Drug regulators said pharmaceutical Baxter International Inc. did not fully co-operate in an investigation to address the case of the blood thinner heparin to which 81 deaths are linked due to the presence of a chemical contaminant.