Toshiba's HD-DVD going the way of Betamax
The high-definition DVD format war has turned into a format death watch.
Street Fighter IV focuses on strategy, nostalgia
Lining up for an hour and a half is a long wait to pick a fight. But for those in the arcade and gaming industry, the global unveiling of Street Fighter IV, the first new version of the classic fighting game in nearly eight years, was a chance not only to throw a few fireballs down memory lane but also to try out some new moves.
India's Tata Capital, Japan's Mizuho Sec in tie-up
India's Tata Capital and Japan's Mizuho Securities Co Ltd have signed an initial deal to jointly offer financial services such as investment banking, private equity, broking and wealth management.
China approves new mutual funds to support stocks
China's securities regulator has approved the creation of at least three new mutual funds to raise more than 20 billion yuan ($2.8 billion), in an apparent effort to support the sagging stock market, sources said on Friday.
Consumer confidence plunges
Consumer sentiment fell sharply in early February to levels associated with previous recessions, dragged down by concerns a bleak economic outlook would raise the unemployment rate, a survey showed on Friday. The Reuters/University of Michigan Surveys of Consumers index of consumer sentiment dropped to 69.6, the lowest reading since February 1992, and below analysts' median forecast for a preliminary reading of 76.3.
UBS write-downs could double
Swiss bank UBS could face billions of dollars more in subprime-related write-downs in 2008, which could tip it into a second year of losses, analysts warned investors, sending its shares tumbling again. Some said UBS might be only halfway through clearing the debris from the subprime loan disaster that has already saddled it with $18 billion in charges in 2007.
Indiana Jones Hits the Big Screen in Trailer Debut
Indiana Jones is back on the big screen. The teaser trailer for the eagerly awaited fourth film in the adventure series featuring the globe-trotting archeologist made its debut on Thursday.
India's IT-BPO industry set to touch $75 billion by 2010: Nasscom
Signs of economic slowdown in the US and rupee appreciation notwithstanding, the National Association of Software and Services Companies (Nasscom), the consortium that serves as the apex body of the Indian IT software and BPO industry said that India's IT-BPO industry is poised to achieve the target of $75 billion in overall software and services revenues by 2010.
Hong Kong most expensive rental market in world: Report
Hong Kong is the most expensive rental market in the world due to high demand and inadequate supply of rental space, a report published by Forbes, Feb. 12, based on data from Mercer Human Resource Consulting, has revealed.
Copper Declines Ahead of China's Inventories Report. Aluminum Gains
Copper declined on Thursday for a second day on speculation China's supplies will rise. Aluminum futures climbed.
UK: Grocery market report could be published Friday
The Competition Commission has said it may release a long awaited remedies report on the UK grocery market on Friday.
Parts of UK to be free from EU telecom regulations
The EU Commissioner for Information Society and Media, Vivane Reding, has said that parts of the UK will be exempt from EU regulations on the telecoms market because of sufficiently high competition.
Man United close gap on Real Madrid to be world's richest club
Manchester United has moved up the league table of the world's richest football clubs, putting it just behind Real Madrid, who have held their top position for the third consecutive year.
Sony's PS3 Outsells Xbox 360 in Jan
Sony's Playstation 3 has outsold Microsoft's rival Xbox 360 for the first time since both systems have been released, according to new data surfacing late Thursday.
Sony Playstation 3 to lead rivals in 2011
Sony's Playstation 3 game console will double its installed base this year according to new research, growing faster than any of its rivals and making up for ground lost on its botched debut in 2006.
Microsoft, HP, Disney Partner to Build New Innovation
Disneyland Resort will later this week partner with Microsoft, software provider Lifeware and home builder Taylor Marrison to create an attraction featuring digital home technologies of the future.
Wall Street Shakes on Credit market Woes
U.S. stocks dropped for the first time this week on Thursday, after Federal Reserve Chairman Ben Bernanke forecasted sluggish economic growth in 2008. The Dow Jones Industrial Average fell 175.3 points, or 1.4 percent, to end at 12,377, with all but one of its 30 components ending in the red.
Dollar Falls As Bernanke Signals Rate Cuts
The dollar fell on Thursday against the euro after Federal Reserve chief Ben Bernanke signaled that policy makers were ready to lower interest rates if the U.S. economy continued to deteriorate.
Nintedo Wii To Overtake Xbox 360
Nintendo's Wii is expected to displace Microsoft Corp.'s Xbox 360 as the new-generation video game console with the world's largest installed base.
Crude Oil Futures Rise Nearly $2 after Economic Data and Supply Worries
Crude futures climbed nearly $2 on Thursday as economic data from Japan and the U.S. diminished worries about a worldwide recession. Prices were also supported by supply concerns.
Platinum Continues Surge over $2,000 an ounce on S.A Supply Concern
Platinum continued its record high above $2,000 an ounce on Thursday after Impala Platinum Holdings Ltd., the second-biggest producer of the metal, reported a drop in output because of power cuts in South Africa. Palladium also gained.
Gold Gains on Weak Dollar after Bernanke Cites Growth Risks
Gold futures edged slightly higher on Thursday as the dollar fell against major currencies Thursday after Federal Reserve Chairman Ben Bernanke said the U.S. economic outlook had worsened and urged the central bank to support growth.
Wal-Mart could break out of slump this year
For the past eight years, Wal-Mart Stores Inc's shareholders have had little reason to beam like the retailer's well-known smiley face image, as stock prices have dropped and the company has underperformed rivals like Target Corp.
But the gloom may be finally lifting -- ironically thanks in part to the U.S. economy's increasing troubles.
Hollywood Quartet Urge SAG to Negotiate
Oscar-winning quartet George Clooney, Meryl Streep, Reobert De Niro and Tom Hanks are urging the
Screen Actors Guild to quickly start its contract negotiations with Hollywood producers in order to avoid another strike.
Fed to act in timely manner to support growth
Federal Reserve Chairman Ben Bernanke on Thursday held the door open to more interest rate cuts to help the struggling economy, but told Congress the central bank expects growth to pick up later in the year. The Fed will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks, Bernanke told the Senate Banking Committee.
Google to enter China's online music sector
Google plans to enter the online music market in China for the first time, as it steps up its battle with local incumbent Baidu.com Inc, media reported on Thursday. Google is expected to announce a joint venture with Top100.cn, to allow users to listen to and download licensed music files for free, major portal Sina.com said, citing local newspaper reports based on sources close to the U.S. firm.
Myanmar rebel leader shot dead in Thai town
A leader of Myanmar's biggest rebel group was shot dead at his home in a Thai border town on Thursday in an assassination immediately blamed on troops loyal to the former Burma's military junta.
Hezbollah threatens Israel at slain commander funeral
Hezbollah's chief Sayyed Hassan Nasrallah on Thursday threatened Israel with open war after accusing the Jewish state of killing one of its top commanders. Zionists, if you want this type of open war then let the whole world hear: let it be an open war, Nasrallah told mourners at the funeral of Imad Moughniyah, a legend to Hezbollah but one of the men most wanted by Israel and the U.S. for planning attacks that killed hundreds.
Groups try school to stem foreclosures
For hundreds of thousands of Americans facing spiraling mortgage costs, the last hope of keeping their home may lie in a classroom in a back office of a local nonprofit group.
UBS reveals new U.S. loans exposure
Swiss bank UBS has revealed $26.6 billion in exposure to risky U.S. mortgages distinct from subprime loans, increasing its vulnerability to the global credit crisis and sending its shares sharply lower. The newly unveiled exposure was for so-called Alt-A mortgages, which are of higher quality than subprime loans but also considered risky.