Olympus Panel Clears Accounting Firms of Blame in Scandal
Accounting groups KPMG and Ernst & Young have been cleared of any responsibility for a $1.7 billion accounting fraud at Japan's Olympus Corp, one of the nation's worst corporate scandals, in a report issued on Tuesday by a panel of lawyers appointed by the company.
Germany rejects rescue fund boost, Greece under pressure
Germany, the only major euro zone member to retain a top-notch credit rating, refused on Monday to consider boosting the bloc's rescue fund, while Greece was under pressure to urgently break a deadlock in debt swap talks if it is to avoid an unruly default.
Wikipedia to shut for 24 hours to stop anti-piracy act
Wikipedia, the popular community-edited online encyclopedia, will black out its English-language site for 24 hours to seek support against proposed U.S. anti-piracy legislation that Wikipedia founder Jimmy Wales said threatens the future of the Internet.
S&P downgrades euro zone's EFSF bailout fund
Rating agency Standard & Poor's cut its credit rating of the European Financial Stability Facility, the euro zone's rescue fund, by one notch to AA+ on Monday, three days after it cut the ratings of France and Austria by the same margin.
Reprise for Nortel debacle as Toronto trial opens
Three former executives at bankrupt Nortel Networks reached into the cookie jar a decade ago to enrich themselves, prosecutors said, opening a fraud trial that dredged up memories of one of the most spectacular casualties of the 1990's dot-com bubble.
SOPA Headed for Major Makeover in Face of White House, Internet Opposition
U.S. legislation aimed at curbing online piracy, which had appeared to be on a fast track for approval by Congress, appears likely to be scaled back or jettisoned entirely in the wake of critical comments over the weekend from the White House, people familiar with the matter said.
Rick Santorum, Consensus Candidate of the Right: Or Is He?
More than 100 evangelical leaders descended on Brenham, Texas this weekend in search of the elusive anti-Romney candidate around whom conservative Republicans could rally. Once again, they failed. Why?
Retailers in for Steady, Modest Growth in 2012
Hopefully, retailers liked 2011, because 2012 is looking like it will offer more of the same.
BMW recalls 235,500 mini vehicles due to fire hazard
BMW on Monday said it has launched a global recall of 235,500 mini vehicles, a step taken by the German auto maker because electronic circuit boards could overheat and cause a vehicle fire.
Wikipedia to Shut for 24 Hours to Stop Internet Bill
Wikipedia, the popular community-edited online encyclopedia, will black out its English-language site for 24 hours to seek support against proposed U.S. anti-piracy legislation that Wikipedia founder Jimmy Wales said threatens the future of the Internet.
Analysis: For rudderless Olympus, swift takeover is unlikely
Olympus Corp should be the easiest of takeover targets: a profitable business with its share price in tatters, its management in utter disgrace and its balance sheet in need of fresh capital. But not in Japan.
Pembina to buy Provident Energy for $3.16 billion
Pembina Pipeline Corp (PPL.TO: Quote) agreed on Monday to buy Provident Energy Ltd (PVE.TO: Quote) for C$3.24 billion ($3.16 billion) in an all-stock deal that will create one of Canada's biggest pipeline and natural gas processing companies.
Energy shares help TSX shake off Europe downgrade
Canadian stocks were slightly higher on Monday, as gains by energy and mining issues offset lower financials, while investors largely shrugged off last week's euro zone ratings downgrades.
Microblogging use in China quadrupled in 2011: think tank
Use of microblogging in China quadrupled in 2011 compared with the previous year, with nearly half of all Chinese Internet users now taking to the near-instant service to gather news and spread views, a government Internet think tank said Monday.
Ontario says economy rebounded in third quarter
Ontario's economy expanded 0.7 percent in the third quarter, reversing a 0.2 percent decline in the second quarter and steering Canada's manufacturing heartland away from another recession.
WestJet considers regional airline
WestJet Airlines Ltd may launch a short-haul airline as early as next year to serve smaller cities and towns in Canada, a challenge to its main rival Air Canada in a market that analysts say has room for a competitor.
Habs surprise red-hot Rangers
Montreal's Max Pacioretty scored twice as the Canadiens rose to the occasion with a 4-1 victory over the NHL-leading New York Rangers on Sunday.
Canada faces legal challenge over Kyoto withdrawal
The Canadian government's withdrawal from the Kyoto Protocol is illegal, alleges a suit to be filed in federal court by a law professor and former Canadian MP on Friday.
Twelve more killed in Syria despite Arab monitors
Twelve people were killed on Monday in Syria where a peace plan monitored by Arab observers has failed to douse a 10-month-old struggle between President Bashar al-Assad and his foes.
European shares stabilize, economic data eyed
European shares and the euro gradually recovered on Monday from early losses triggered by the mass downgrade of euro zone sovereign ratings last week, but they still looked vulnerable amid rising fears of a disorderly Greek debt default.
Artist, Descendants shine at Golden Globes
Silent-era film The Artist and family drama The Descendants were the top film picks at the Golden Globe Awards on Sunday in a loose-lipped awards show that even had host Ricky Gervais walking onto the stage with a drink in his hand.
Analysis: Swift takeover for Olympus unlikely
Olympus Corp should be the easiest of takeover targets: a profitable business with its share price in tatters, its management in utter disgrace and its balance sheet in need of fresh capital. But not in Japan.
24 Million Customer Accounts Hacked at Amazon's Zappos
Online shoe retailer Zappos told customers this weekend that it has been the victim of a cyber attack affecting more than 24 million customer accounts in its database.
Greek default fears grow as talks stall
Greece's private sector creditors warned on Monday that the Athens government must urgently break a deadlock in debt swap talks triggered by unreasonable demands from international lenders if is to avoid a disorderly default.
Greek creditors bridle at demands, default fears grow
Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.
Search of Italian Cruise Ship Resumes, Hopes Fade
Rescuers resumed a search of the hulk of a giant cruise liner off the west coast of Italy on Monday after bad weather forced them to halt operations, but hopes were fading of finding more survivors.
Greek default fears grow as creditors bridle at demands
Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.
Friends turn to social media to find cruise ship survivors
Friends and relatives of passengers who were on board a capsized Italian cruise liner carrying more than 4,000 people have turned to social media to search for loved ones and vent their anger and shock at the disaster in which at least six people died.
BofA chairman says he supports CEO 100 percent
Bank of America Corp Chairman Chad Holliday on Monday said he supports chief executive officer Brian Moynihan 100 percent.
D. Boerse, NYSE stress European nature of deal in EU letter
Top executives at Deutsche Boerse and NYSE Euronext sent a letter to European Commissioners emphasizing the European nature of a combined company, in a bid to salvage their deal after antitrust regulators threatened to block it.