BUSINESS

IMF Approves €839m Loan for Portugal

The International Monetary Fund informed that it approved the next loan tranche of approximately €839 million for Portugal under the country's €78 billion international bailout.

Rio Tinto CEO Albanese Steps Down After $14bn Write-down

On the 17th of January, Rio Tinto Plc, the world's second largest mining company, informed that its chief executive officer Tom Albanese would resign because of a $14 billion write-down on the value of assets which he supervised. The impairment charge is mainly associated with the $38 billion takeover of Alcan Inc. and the $4 billion coal purchase in Mozambique.

China Sees its Annual FDI Drop First Time in 3 Years

China's foreign direct investment decreased roughly 3.7 percent in 2012 from 2011. It is a first fall in China's annual FDI since 2009, according to the official figures. China saw its 2012 FDI drop as investors either had not been so keen on investing in emerging markets due to current economic conditions or had been choosing to transfer their businesses to markets with cheaper workforce.
More news

7 Features of a Speculated Facebook Phone

Facebook dashed this week rumours that it will roll out a smartphone which will possibly challenge the iPhone. Instead, the most popular social networking site rolled out the graph search. Despite the denial of a Facebook smartphone, speculations would likely go on and these features are what many FB fans would want to see in such a device.
Vittorio Hernandez Jan 18, 2013

Debt Doesn't Worry Me... Yet

By Peter Switzer, Switzer Super Report17 January, 2013I received a great question from a subscriber, Bill, who, as an old Chartered Accountant, can't ignore the indebtedness of the US government.
Admin System Jan 18, 2013

Novo 7: Nexus 7’s Clone

It's usual for Apple devices such as smartphone and tablets to be cloned by Android-based ones, but this new China-made tablet was probably inspired by Asus and Google-made Nexus 7.
Vittorio Hernandez Jan 18, 2013

Albanese’s Quitting Will Have Short-Term Impact on Rio’s Shareprices

Trading on Rio Tinto's (ASX: RIO) stock opened on Friday at $64.50, a 1.45 per cent drop from Thursday's closing price of $65.55, indicating the minimal impact of the Thursday night announcement of Tom Albanese's departure as chief executive of the mining company.
Vittorio Hernandez Jan 18, 2013

CEOs: Top 10 Memes, 5 Parodies

CEOs - they are powerful, rich, intelligent, loved, envied, feared, and sometimes fired.
Vittorio Hernandez Jan 18, 2013

Tom Albanese and 8 Other Recently Fired CEOs

From chief executive officer to jobless - that's what these nine CEOs recently experienced in the past few months which created headlines and shocked the corporate world.
Vittorio Hernandez Jan 18, 2013

Qantas, Emirates Alliance Finally Lifts Off

The much touted Qantas and Emirates alliance will now finally lift off after the Australian Competition and Consumer Commission (ACCC) on Thursday gave the two airline companies the awaited interim approval for its partnership.
Esther Tanquintic-Misa Jan 17, 2013

Australian Stock Market Report – Afternoon 1/17/2013

Despite a slight tick-up in Australia's unemployment rate, the local share market rallied today edging 20 month highs. By close, the All Ordinaries Index (XAO) was up 14.7pts or 0.3pct to 4779.7.
Vittorio Hernandez Jan 17, 2013

Tasmania Recovers, Exports First Cherry Shipment to China

Tasmania is on the road to recovery. After experiencing its catastrophic bushfire incident early this year, Tasmania struggles to recover, with the first shipment of its cherry export already bound for China.
Esther Tanquintic-Misa Jan 17, 2013

TripAdvisor Names Best Hotels in Australia

With Australia Day just a week and a few days away from now, some of you might be considering packing up your bags to spend the long weekend with your family, friends and loved ones. In so doing, you may want to consider some local hotels which TripAdvisor named as the best in all over Australia.
Jan 17, 2013

Australian Stock Market Report – Midday 1/17/2013

Despite the release of some disappointing employment numbers this morning, the Australian sharemarket is improving for the third time this week, with the All Ordinaries Index (XAO) up by 0.7 per cent or 34.1 pts to 4799.1. Most sectors are trading higher, with the exception of the telcos which are slipping modestly.
Vittorio Hernandez Jan 17, 2013

GroupVox: Push-to-Talk Service for Facebook

Push-to-talk (PTT) service is similar to a walkie-talkie with radio devices and usually has a limited range. In mobile devices, PTT can have unlimited range using an Internet connection and individuals conversing can be from both ends of the world. GroupVox developed their PTT service app which allows Facebook users to send text messages to one another and voice messages similar to a walkie-talkie.
Vittorio Hernandez Jan 17, 2013

Sell Gold, Buy Timber

by Carl Delfeld, Investment U Senior AnalystThursday, January 10, 2013: Issue #1945No question, gold has had a nice run.
Admin System Jan 17, 2013

Top 4 Tablets Under $200

Tablet devices may take over the existence of laptop computers in the future due to its great potential on delivering mobility, functionality, and battery life. Unlike laptops and netbooks, tablet devices are light and usually thin with capabilities to make office documents and presentations, multimedia functions, and have loads of applications.
Vittorio Hernandez Jan 17, 2013

Samsung, AT&T Dispatches OTA JellyBean 4.1.1 for Galaxy S3

Samsung and AT&T finally released over-the-air (OTA) the JellyBean 4.1.1 update for the Galaxy S3, which delivers exciting new features to the hugely popular smartphone courtesy of the smooth platform collaboration between Android and TouchWiz.
Erik Pineda Jan 17, 2013

Iron Ore Prices in Another 14-Month Slide to $145.40 a Tonne

Just when the resources industry in Australia was anticipating a further improvement in iron ore prices, reports said that the price of the key steelmaking ingredient plummeted to a 14-month biggest daily drop to $145.40 a tonne.
Vittorio Hernandez Jan 17, 2013

Australian Stock Market Report – Afternoon 1/16/2013

The Australian sharemarket managed to improve for the second time this week today, with the All Ordinaries Index (XAO) up 0.5 per cent or 22 pts to 4765.0. Today was the busiest day on the market in terms of volume so far this year; with $4.12 billion worth of shares exchanging hands.
Vittorio Hernandez Jan 16, 2013

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