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Valencia determined to stay second by beating Villarreal
The race for the Spanish league title has already become something of a one-horse race, so well are Barcelona playing -and so far are they ahead. Lionel Messi and company are 11 points ahead of Valencia, 12 ahead of Real Madrid and Sevilla, and 13 ahead of Atletico Madrid and Deportivo Coruna. Therefore, the talk in Spain now about...

Valencia determined to stay second by beating Villarreal

Villarreal next to try their luck against Barcelona
Three weeks ago, Sevilla tried to bring Barcelona down to earth - and were hammered 3-0 at home. Two weeks ago, Valencia tried to do the same - and crashed 4-0 in the Camp Nou. Last Saturday came the turn of Real Madrid - who lost 2-0 in the Catalan capital. All of which has prompted the following question in Spain: is there any...

Villarreal next to try their luck against Barcelona

Financial crisis has not touched organization
 Football's controlling body FIFA on Friday said that the global economic crisis has not caused a problem for the organization. "We are glad that the crisis has not touched FIFA. We are not Swiss for nothing. We are still a safe company," general secretary Jerome Valcke said. Addressing a press conference in Johannesburg...

Financial crisis has not touched organization

Platini's hopes of restricting foreign ownership unlikely to succeed
  Europe's freedom of movement laws mean make it highly unlikely that UEFA president Michel Platini will get his way by restricting foreign ownership of British clubs. On Tuesday, the Frenchman attacked what he said was excessive overseas investment in the Premier League, claiming that the country's top clubs are losing their...

Platini's hopes of restricting foreign ownership unlikely to succeed

Roma face financial troubles
Serie A side Roma may have to be placed on the market as their owners face pressure to pay back heavy debts by the end of the year, the repubblica.it website reported Tuesday. Unicredit Bank is believed to have asked the club owners, the Sensi family, for a first payment of 130 million euros (176.5 million dollars) and will refuse any...

Roma face financial troubles

Nike & Reebok Suspend Sales of Vick’s Products
For Atlanta’s quarterback Michael Vick the problems just keep on coming his was. Or is it the other way around? Athletic shoe and sportswear manufacturers Nike Inc and Reebok announced in a statement that they will suspend sales of products endorsed by the famous quarterback following accusations the National Football League star...

Nike & Reebok Suspend Sales of Vick’s Products
 

Singapore Airlines to deny freight price fixing charge
Singapore Airlines says it will defend allegations by the watchdog Australian Competition and Consumer Commission (ACCC) that its cargo subsidiary was involved in an illegal international price-fixing freight cartel, ABC radio reported on Monday. The ACCC claims a number of airlines fixed the price of a fuel surcharge on freight...

Singapore Airlines to deny freight price fixing charge

Sex-crazed rhino unzips Australia zoo pen
A sex-crazed rhinoceros that smashed through the steel bars of its pen in search of female company had to be shot with a tranquilizer dart to keep him within the bounds of Adelaide's Monarto Zoo. Monarto chief executive Chris West said keepers used a helicopter to locate the white rhino called Satara in the open-range zoo while...

Sex-crazed rhino unzips Australia zoo pen

Profit spurt for Australian builder Leighton
Leighton Holdings Ltd, Australia's biggest construction company, on Thursday reported a 35-per-cent jump in profits, mostly on a rise in contract mining. Leighton, which is 55-per-cent owned by Germany's Hochtief AG and delivers around 70 per cent of its profits, said profit rose to 607 million Australian dollars (520 million US...

Profit spurt for Australian builder Leighton

New Zealand Woman Dies After Her Power Was Cut
A New Zealand woman on an oxygen machine died after her electrical power was cut off by the supplier because of her unpaid bills. The power company, Mercury Energy, said it had been unaware of the woman's condition, but the police said they were investigating the circumstances of Mrs Muliaga's death.However, the woman's family has quite...

New Zealand Woman Dies After Her Power Was Cut
 

Sales boost prompts Monsanto to raise profit projections
 Buoyed by strong first-quarter sales to Latin America, Monsanto, the world's largest provider of agriculture and biotechnology products, on Wednesday boosted its profit projections for the ongoing fiscal year. The company reported that in the first quarter, ending November 30, of the 2008/2009 fiscal year, net sales rose 29 per cent...

Sales boost prompts Monsanto to raise profit projections

Pau, Lakers snap Celtics' 19-game winning streak
One game after making history, the Boston Celtics' record-setting run is history. Kobe Bryant scored 27 points and Spain's Pau Gasol had seven of his 20 in the final three minutes of a game-sealing 13-2 run on Thursday as the Lakers snapped the Celtics' franchise-best 19 game- winning streak, with an inspired 92-83 home-court...

Pau, Lakers snap Celtics' 19-game winning streak

Morgan Stanley reports sharp quarterly, annual
 Investment bank Morgan Stanley on Wednesday reported sharp fourth-quarter losses and reductions in year-on-year income for the business year that ended November 30, continuing the fallout from the economic crisis. The company reported that its income for the year came to 1.8 billion dollars, compared with 2.6 billion dollars the...

Morgan Stanley reports sharp quarterly, annual

Morgan Stanley reports sharp quarterly, annual losses
 Investment bank Morgan Stanley on Wednesday reported sharp fourth-quarter losses and reductions in year-on-year income for the business year that ended November 30, continuing the fallout from the economic crisis. The company reported that its income for the year came to 1.8 billion dollars, compared with 2.6 billion dollars the...

Morgan Stanley reports sharp quarterly, annual losses

Siemens' bribery flourished despite warnings
 A culture of bribery and impunity flourished at German corporate giant Siemens AG over the past decade despite repeated warnings from outside and inside the firm, according to US court documents. The details were released Monday as Siemens pleaded guilty in US District Court in Washington to a massive global corruption scandal...

Siemens' bribery flourished despite warnings

Chicago's Tribune Company weighing bankruptcy option
Troubled media giant Tribune Company is consulting with bankruptcy experts to consider its options in the face of 13 billion dollars in debt and plummeting advertising revenue, the Chicago-based firm said late Sunday. In an article on the website of its flagship newspaper, the Chicago Tribune, a spokesman described an "uncertain...

Chicago's Tribune Company weighing bankruptcy option

Report: Yahoo negotiating to buy AOL
Troubled US web portal firm Yahoo! is in negotiations to buy Time Warner Inc.'s AOL business, the financial news agency Bloomberg reported on Thursday. Yahoo!, which earlier in the week rejected a 47.5-billion-dollar takeover bid by Microsoft in a move that saw the resignation of CEO Jerry Yang, is according to Bloomberg bidding for...

Report: Yahoo negotiating to buy AOL

Boeing deliveries to be delayed by 10 weeks
US aircraft manufacturer Boeing is to delay its deliveries by 10 weeks in the wake of a two-month strike by its mechanics, the Wall Street Journal reported Wednesday. The first of its customers had already been informed, the newspaper said, quoting industry insiders. Orders for some 3,700 jetliners were affected. Boeing has since...

Boeing deliveries to be delayed by 10 weeks

Yahoo co-founder, chief Yang to step down
Jerry Yang, who helped kick start the internet revolution in 1995 as co-founder of web portal Yahoo, is stepping down as the company's chief executive. The announcement by the ailing internet giant came after months of falling revenue, fierce proxy battles and a series of botched negotiations that scuttled what now seems to have been...

Yahoo co-founder, chief Yang to step down

Wal-Mart posts 10 per cent profit rise in 3rd quarter
US retail giant Wal-Mart reported Thursday that its surplus in the third quarter gained nearly 10 per cent, but that the company is now more cautious about its full-year prospects amid the economic downturn. The Bentonville, Arkansas-based company said its surplus came to 3.14 billion dollars in the quarter, on sales of 98.64 billion...

Wal-Mart posts 10 per cent profit rise in 3rd quarter

HBO buys rights to Obama documentary, for undisclosed sum
  US cable channel HBO has bought the rights to a documentary about president-elect Barack Obama, produced by Oscar- nominated actor Edward Norton, the Hollywood Reporter said Friday. A crew for Norton's Class 5 Films has been following the African- American politician since early 2006 - even before he announced his intention to run...

HBO buys rights to Obama documentary, for undisclosed sum

Ford reports massive losses of 3 billion dollars; cuts 2,600 jobs
Ford Motor Co on Friday reported a third- quarter operating loss of 2.98 billion dollars and said it would cut jobs and spending to preserve its perilous cash reserves. One of the US' "Big Three" automakers, Ford said it used up 7.7 billion dollars in cash as revenues plunged. The losses reported by Ford, the...

Ford reports massive losses of 3 billion dollars; cuts 2,600 jobs

Time Warner lowers 2008 outlook, cites restructuring costs
US media giant Time Warner Inc. on Wednesday reported a drop in third quarter earnings, and lowered its 2008 profit expectations, citing the costs of restructuring. The world's largest media company said net income came to 1.07 billion dollars in the third quarter, off slightly from 1.09 billion dollars in the same 2007...

Time Warner lowers 2008 outlook, cites restructuring costs

Motorola plunges into the red
US mobile-phone maker Motorola Inc on Thursday reported a loss of 397 million dollars for the third quarter of 2008, down from a profit of 60 million dollars in the same quarter of 2007, despite a financial restructuring plan. Sales fell by a more-than-expected 15 per cent to 7.5 billion dollars, Motorola reported from its...

Motorola plunges into the red

Exxon Mobil reports largest quarterly profit in US history
 The world's largest publicly traded oil company, Exxon Mobil, reported the largest quarterly profit in US history Thursday on the back of record oil prices. Exxon earned 14.83 billion dollars in the quarter, an increase of 60 per cent on the same quarter of 2007. Sales increased by 35 per cent to 137.74 billion dollars in the same...

Exxon Mobil reports largest quarterly profit in US history

Microsoft unveils Windows 7, a fix for disappointing Vista
  Microsoft released key details Tuesday of the next generation of software that it hopes will run the world's computers. The software giant, whose dominance is under threat, said Windows 7 will replace the disappointing Windows Vista in January 2010. Microsoft said the new operating system was designed to function like a tighter...

Microsoft unveils Windows 7, a fix for disappointing Vista

US chopper down, 3 US-led soldiers killed in Afghan attacks
US military spokesmen confirmed that Taliban rebels shot down a US helicopter in central Afghanistan Monday, while three US-led soldiers died in suicide and roadside attacks elsewhere in the country, officials said. The helicopter crew engaged with Taliban fighters on the ground in Wardak province, about 50 kilometres west of Kabul...

US chopper down, 3 US-led soldiers killed in Afghan attacks

US courier UPS profits deflated
The world's largest package delivery company UPS has adjusted expectations of annual earnings after profits for the third quarter dropped 10 per cent, the company reported on Thursday. The company blamed higher fuel costs and the general US downswing for the reduced profits, which came despite a 7.4-per-cent gain in revenue through...

US courier UPS profits deflated

Bailed out insurer AIG halts lobbying after government takeover
Insurance giant American International Group Inc, bailed out of a cash-flow crisis last month by a loan that temporarily made the US government its majority shareholder, said Monday that it would stop lobbying in Washington. A spokesman said that the company's Washington office would continue to monitor federal lawmaking to assess...

Bailed out insurer AIG halts lobbying after government takeover

New York demands reforms from insurer AIG
New York state's attorney general has threatened legal action against financially troubled insurer AIG unless it takes steps to "review, rescind and recover all past unreasonable expenditures." The move comes as US authorities are starting to investigate the behaviour of multiple financial companies in the wake of the...

New York demands reforms from insurer AIG

Merrill Lynch reports fifth straight quarter of losses
Merrill Lynch reported its fifth straight quarter of losses Thursday as it registered a 5.2-billion-dollar loss for the third quarter of 2008. Merrill Lynch, which is facing a takeover by the Bank of America, attributed its losses to continued writedowns on bad loans. The losses reported Thursday compare with third-quarter 2007...

Merrill Lynch reports fifth straight quarter of losses

JPMorgan Chase Q3 earnings plunge 84 per cent, but remain in black
US banking giant JPMorgan Chase reported Wednesday net income of 527 million dollars in the third quarter of 2008, plunging 84 per cent year-on-year. But the results were better than analysts' predictions, remaining in the black despite the severe financial industry and subprime mortgage crisis sweeping the US banking sector. The...

JPMorgan Chase Q3 earnings plunge 84 per cent, but remain in black

Raid at Poultry Plant Fires 300 Workers
The Department of Justice has released a report announcing that federal immigration agents made a criminal search warrant at a poultry processing plant in Greenville, South Carolina, and arrested nearly 300 workers. The federal agents went to the Columbia Farms at 9 a.m. after 10 months during which they tracked down numerous employment...

Raid at Poultry Plant Fires 300 Workers

Money Can Kill: One Man Killed His Family and Shot Himself
On Monday, the police forced the front door of the Rajarams. Neighbors alerted the officials because they had noticed that no one was picking the newspaper no more and no activity seemed to be done neither inside nor outside their house. Friends called the police and what they had found inside was a terrible picture of a grotesque...

Money Can Kill: One Man Killed His Family and Shot Himself

Eli Lilly beats out Bristol-Myers for ImClone
Ending a bidding war, the US pharmaceutical concern Eli Lilly intends to take over the US biotech firm ImClone for 6.5 billion dollar, the two companies said Monday in new York. ImClone shareholders must approve the offer. Eli Lilly beat out its US rival Bristol-Myers Squibb, which had raised its offer to 5.4 billion dollars....

Eli Lilly beats out Bristol-Myers for ImClone

Wells Fargo, Citgroup mull dividing Wachovia
A possible compromise in the takeover battle for ailing Wachovia bank was in the making, with the two takeover rivals, Citigroup Inc. and Wells Fargo & Co. considering a deal to divide up the the bank, the Wall Street Journal reported Monday. The newspaper said the two banks, with officials of the Federal Reserve and the US...

Wells Fargo, Citgroup mull dividing Wachovia

Ohio Woman, 90, Shot Herself after Kicked Out of Her House
Addie Polk, 90, has been living in her house in Ohio for 38 years when she tried to kill herself because she had been evicted. She shot herself and found lying on the floor inside her house when the police came on Wednesday to serve an eviction note. Akron police spokesman Lt. Rick Edwards said on Friday that Polk shot herself in her...

Ohio Woman, 90, Shot Herself after Kicked Out of Her House

Surprise development as Wells Fargo enters Wachovia takeover race
In a surprise development, Wells Fargo bank and the fourth-largest US bank Wachovia Corp. announced Friday that Wells Fargo had entered the bidding with an offer for a complete merger with Wachovia. The announcement said Wells Fargo had presented Wachovia with a signed and board-approved offer to buy Wachovia as an intact company in a...

Surprise development as Wells Fargo enters Wachovia takeover race

Drugs company Pfizer stops development of range of medications
US pharmaceuticals giant Pfizer Inc. is closing out the early-stage development of at least 11 medications in order to focus on more profitable drugs, media reports said Tuesday. The financial newswire Bloomberg cited a memo sent to employees on September 25 in which the world's largest drug company would be ending the early...

Drugs company Pfizer stops development of range of medications

DuPont announces Ellen Kullman to be CEO as of 2009
The US chemical concern DuPont announced Tuesday that it was elevating executive vice president Ellen Kullman to the position of president as of October 1 and chief executive officer effective January 1, 2009. The 52-year-old Kullman, who has worked for DuPont since 1988, is to replace Charles O Holliday Jr, a 38-year veteran of the...

DuPont announces Ellen Kullman to be CEO as of 2009

Other 820,000 Texans Still in Dark after Ike’s Disaster
Nine days have passed since hurricane Ike hit the Gulf Coast and destroyed the way to New York. Still, more than 820,000 people in Texas were cut off the power on Monday. The Center Power Energy Inc, which controls most of the Huston area’s electricity, had 767,000 customers in Texas without power. Yet, the number is small, remembering...

Other 820,000 Texans Still in Dark after Ike’s Disaster

Conversion of Morgan, Goldman signals era's end
The decision by Morgan Stanley and Goldman Sachs - the last two major US investment banks still on their feet - to become bank holding companies signals the end of high-wire finance on Wall Street. After a year of turmoil in the financial industry that climaxed last week with bankruptcies and government takeovers, the two companies...

Conversion of Morgan, Goldman signals era's end

US stocks open sharply lower despite AIG rescue
US stocks fell sharply on Wall Street's opening bell Wednesday after the Federal Reserve agreed to make an 85-billion- dollar emergency loan to struggling insurance giant American International Group Inc (AIG). The Dow Jones Industrial Average fell more than 200 points, some 2 per cent, within minutes of trading. The broader Standard...

US stocks open sharply lower despite AIG rescue

Goldman Sachs reports sharply lower profit in Q3
The largest US investment bank Goldman Sachs Group Inc on Tuesday announced that third-quarter profits dropped 70 per cent to 845 million dollars, but stressed the company was doing better than its competitors. The earnings compare to a 2.9 billion dollar profit for the same quarter in 2007, the bank said in a statement from New York....

Goldman Sachs reports sharply lower profit in Q3

Banking shares lead sharp fall on Frankfurt stock exchange
Banking shares led a sharp decline on the Frankfurt stock exchange Monday, as European markets reacted with extreme nervousness to the bankruptcy of US bank Lehman Brothers. Commerzbank fell most, declining 11.6 per cent to 15.47 euros, as the DAX index of the top 30 shares fell 4.1 per cent to 5980. During Monday's trading it hit a...

Banking shares lead sharp fall on Frankfurt stock exchange

One People Killed as Tractor-Trailer Falls into Water
On Sunday a tragic accident took place on the Bay Bridge. A tractor-trailer fell into the Chesapeake Bay leaving its driver dead and closing the bridge during one of the busiest weekends of the year. The accident happened at about 4 a.m. during the two-lane traffic on Bay Bridge.The busiest lane was stretched to 11 miles by afternoon on...

One People Killed as Tractor-Trailer Falls into Water

Mortgage bank Fannie Mae posts Q2 loss of to 2.3 billion
US mortgage bank Fannie Mae reported on Friday a second quarter loss of 2.3 billion dollars, higher than previously predicted. The loss amounted to 2.54 dollars a share, and marked the fourth straight quarter of losses for the US bank. The company recorded a 1.86 dollar gain in the same period a year ago. Fannie Mae reduced its...

Mortgage bank Fannie Mae posts Q2 loss of to 2.3 billion

Barack "O'Bama": A prince of Ireland?
A Dublin-based genealogy firm has traced US presidential hopeful Barack Obama's Irish roots back to the 17th century, and there is even circumstantial evidence that his ancestors hailed from Cashel, the seat of the High Kings of Ireland. During Obama's campaign to become the Democratic Party candidate for the US presidency earlier...

Barack "O'Bama": A prince of Ireland?

Worker at “Girls Gone Wild” Was Charged with Criminal Sexual Act
Matthew O’Sullivan, 37, of Los Angeles, California, was charged with first-degree criminal sexual act on Wednesday. O’Sullivan is an employee at the company that produces the video series of “Girls Gone Wild.” His accusations came after he had groped a woman aboard a bus outside a New York bar called Nubar. On Tuesday night, the “Girls...

Worker at “Girls Gone Wild” Was Charged with Criminal Sexual Act

Child Labor Violations At Meat Plant
According to Dave Neil, the Iowa Labor Commissioner, labor officials have identified 57 under-age employees working at the Agriprocessors kosher meatpacking plant situated in Postville, Iowa, and have required the attorney general to bring criminal charges against the corporation for child labor violations.“The investigation brings to...

Child Labor Violations At Meat Plant

Small Airplane Crashes in Minnesota Killing Eight People
Yesterday, a Raytheon Hawker 800 small airplane crashed in Minnesota while it was preparing to land at the regional airport in the area. The crash killed all eight people who were on board. Among them, there were casino and construction executives.Officials who are investigating the crash believed there were nine people on board...

Small Airplane Crashes in Minnesota Killing Eight People

Pool Arrest Draws The Attention Upon Drain Dangers
A swimming pool company president was accused on Monday of second-degree murder with regard to the drowning of a 6-year-old boy whose arm was caught by the suction of a powerful drain pump. David Lionetti, Shoreline Pools President, was liberated on $25,000 bail. However, if he is found guilty of the criminal act, he will confront a...

Pool Arrest Draws The Attention Upon Drain Dangers

Crane Kills 4 and Wounds 7 after Collapse
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Crane Kills 4 and Wounds 7 after Collapse

Mixed Up Bodies at Home Funeral
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Mixed Up Bodies at Home Funeral

Tears and Relief at the Funeral of the Slain Soldiers
Sgt. Alex Jimenez and Pvt. Byron W. Founty were found in Iraq. Above all hopes of their families for them to come back alive, they ended their life fighting for their country. All that came back from Iraq was both of their remains.Sgt. Alex Jimenez was 25 years old and was on patrol on May 2007, near Yusufiva, Iraq. His Army unit,...

Tears and Relief at the Funeral of the Slain Soldiers

Missing Medical Files Recovered
The Salt Lake Tribune reports that the burglarized tapes which contain around 1.5 million health care billing data, Social Security numbers and medical procedure codes were retrieved on Tuesday. Investigators in the case said Wednesday they received a call which led detectives to University of Utah billing records that were...

Missing Medical Files Recovered

Jones Beach Evacuated Due To Fireworks
Long Island’s popular Jones Beach was evacuated on Saturday after state parks officials reported that unexploded fireworks washed up on shore subsequent to a Fourth of July show. As soon as the firecrackers came into view, the lifeguards and parks staffers asked the approximate 2,000 visitors to abandon the area in order to...

Jones Beach Evacuated Due To Fireworks

New Suspect In The Death Of Pregnant Servicewoman
A military spokesman said on Saturday that a soldier at Fort Bragg in North Carolina was the primary suspect in the death of a pregnant servicewoman. The victim, Spc. Megan Lynn Touma, aged 23, was found dead in the bathtub of a motel a week ago. Her body was found after a maintenance supervisor inspected a strange odor he smelled...

New Suspect In The Death Of Pregnant Servicewoman

Pregnant Soldier Found Dead In North Carolina Hotel
Fayetteville’s authorities are now investigating the death of a seven months pregnant soldier found dead in a motel. Her corpse was found Sunday morning, after the police received a phone call regarding an intense odor coming from the room where the woman accommodated.   Two days after finding the body, Spc. Megan Lynn Touma...

Pregnant Soldier Found Dead In North Carolina Hotel

Investigators Raid Mayor Dixon’s Home
Maryland state prosecutors raided the home of Baltimore Mayor Sheila Dixon yesterday, as part of an investigation regarding her financial dealings during her tenure as City Council president. Arriving at 6:30 a.m., the investigators’ team left Mayor Dixon’s house with six cardboard boxes and a large cooler on wheels seven hours...

Investigators Raid Mayor Dixon’s Home
 

EU to send experts to Ukraine as gas row reaches Brussels
 The European Union on Thursday decided to send experts to Ukraine to provide independent information on the flow of Russian natural gas supplies to Europe as top officials from Kiev and Moscow arrived in Brussels to lobby for EU support in their gas row. The EU is "establishing a team which will travel to Ukraine and Russia to...

EU to send experts to Ukraine as gas row reaches Brussels

Slovakia's carmakers halt, limit production due to gas row
 Slovakia's carmakers halted or limited production Thursday, a side effect of Russia's decision to cut off natural gas supplies flowing to western Europe via Ukraine. A Kia plant in Slovakia, which churns out 700 cars a day, halted production Thursday morning, spokesman Dusan Dvorak confirmed. A Peugeot plant decided to slash one of...

Slovakia's carmakers halt, limit production due to gas row

Ukraine capital short on gas, Kievites battle the cold
 City managers in the Ukrainian capital Kiev on Tuesday began energy conservation measures because of falling supplies of natural gas, officials at the power company Kievenergo said. Kiev residents, for their part, were resorting to tried and true methods of beating the cold, as yet another gas war with Russia and a vicious cold snap...

Ukraine capital short on gas, Kievites battle the cold

Lufthansa not interested in taking stake in Alitalia
German carrier Lufthansa said Thursday that was not interested in taking a stake in Italian airline Alitalia. A spokesman for the German airline said it had not made a bid for Alitalia, but had put forward a concept for cooperation with the airline group Star Alliance, of which Lufthansa is a member. The spokesman was commenting on...

Lufthansa not interested in taking stake in Alitalia

Drug company for sale after billionaire's suicide
Ratiopharm, one of Germany's best-known drug companies, was put up for sale Wednesday, two days after its struggling owner committed suicide by throwing himself under a train. Adolf Merckle, 74, a billionaire who was formerly Germany's fifth- richest man, killed himself Monday after months of pleading with banks to throw him a...

Drug company for sale after billionaire's suicide

Europe uses up gas reserves as Russia closes the taps
Europe tapped into its gas reserves and began taking emergency steps Wednesday after Russia cut all supplies to the continent via Ukraine amid an escalating dispute between Moscow and Kiev. Hungary, Italy, Austria, Slovakia, Greece, Turkey and most of the Balkan nations were among the hardest hit by the drop in Russian gas, which has...

Europe uses up gas reserves as Russia closes the taps

Europe draws on gas reserves as Russia closes
 Europe tapped into its gas reserves and began taking emergency steps Wednesday after Russia cut all supplies to the continent via Ukraine amid an escalating dispute between Moscow and Kiev. Hungary, Italy, Austria, Slovakia, Greece, Turkey and most of the Balkan nations were among the hardest hit by the drop in Russian gas, which has...

Europe draws on gas reserves as Russia closes

Russia cuts 90 per cent of gas supply to Austria
 Russia cut its supply of natural gas to Austria by 90 per cent Monday night, Austrian oil and gas supplier OMV AG said Tuesday. The reduction came amid Ukraine's conflict with Russian state gas company Gazprom, which pipes its gas to Western Europe through the Ukraine. OMV would be able to keep up its delivery to end customers by...

Russia cuts 90 per cent of gas supply to Austria

London regulators to lift ban on stock market short selling
 A temporary ban on the practice of short-selling imposed at the height of the banking crisis last September will be lifted by mid-January as planned, the Financial Services Authority (FSA) in London said Tuesday. The regulatory body said that the three-month ban would expire on Jnauary 16, but could be reinstated if...

London regulators to lift ban on stock market short selling

Major Russian supply cuts to Europe as gas crisis deepens
Russia on Tuesday cut by two-thirds its gas deliveries to Europe via Ukraine, with European countries immediately feeling the effect of drastically falling volumes as the standoff worsened. Russia's Tuesday gas supply reduction, the second since the beginning of 2009, would cause "problems in getting sufficient gas to Europe to...

Major Russian supply cuts to Europe as gas crisis deepens

Czechs report sharp gas supply drop amid Russia-Ukraine row
 Russian natural gas supplies to the Czech Republic dropped by 75 per cent early Tuesday amid the ongoing gas row between Russia and Ukraine, a gas importer said. Martin Chalupsky, a spokesman for country's leading gas importer and distributor, RWE Transgas, described the drop as "serious" but said that the company is able...

Czechs report sharp gas supply drop amid Russia-Ukraine row

Austria cuts gas supply to Hungary
The amount of natural gas piped into western Hungary from Austria fell on Tuesday as a result of Russia cutting supplies to Ukraine in an ongoing dispute over pricing, said Hungary's gas distributor in a statement. The situation illustrates how the spat between Ukraine and the Russian state gas company Gazprom is having a knock-on...

Austria cuts gas supply to Hungary

Czech gas deliveries drop for second day amid Russia-Ukraine row
  The Czech Republic's natural gas deliveries dropped for the second day Monday as a gas row between Russia and Ukraine continued, a gas importer said. Martin Chalupsky, a spokesman for the country's leading gas importer, RWE Transgas, said the firm on Monday received 9.5 per cent less gas than ordered for the day. He said that...

Czech gas deliveries drop for second day amid Russia-Ukraine row

Russia: further gas cuts through Ukrainian pipelines
Russian Prime Minister Vladimir Putin on Monday gave the go-ahead to further cut gas to Ukraine by 65.3 million cubic metres per day - the amount Moscow says Kiev is stealing from European clients further downstream. Gazprom chief executive Alexei Miller proposed the measure while briefing Putin on the standoff since the company shut...

Russia: further gas cuts through Ukrainian pipelines

Russia says it will further cut gas through Ukraine pipe
Russia on Monday said it will further cut gas to Ukraine by 65 million cubic metres per day, the amount Moscow says Kiev is stealing from European clients further downstream. Gazprom cheif executive Alexei Miller proposed the measure while briefing Prime Minsiter Vladimir Putin on the standoff since the company shut off supplies to...

Russia says it will further cut gas through Ukraine pipe

Waterford Wedgwood china producers call in administrator
  Financially troubled prestige china and crystal firm Waterford Wedgwood announced Monday that parts of its business in Ireland and Britain had been placed into administration. The Anglo-Irish group, with a history of 250 years, is best known for its Wedgwood pottery and Royal Doulton and Waterford crystal. It said Monday...

Waterford Wedgwood china producers call in administrator

Dispute puts Europe energy supplies at risk
Russian gas export monopoly Gazprom Monday warned European customers of a potential shortage in gas supplies, as Ukraine dug in its heels on a pricing dispute with the Kremlin. "We cannot rule out that the present position of the Ukrainian party and possible steps it may resort to - linked to gas transit through Ukrainian...

Dispute puts Europe energy supplies at risk

Juergen Flimm to head Berlin's prestigious opera company
The German-born director of the Salzburg Festival, Juergen Flimm, has been appointed to the prestigious post of manager of Berlin's showcase opera house, the Staatsoper, officials announced Monday. Announcing the 67-year-old Flimm's appointment, Berlin's Mayor Klaus Wowereit praised him as a major force in the German-speaking theatre...

Juergen Flimm to head Berlin's prestigious opera company

German company Siemens wins huge Iraqi order
German turbine maker Siemens said Monday it had won a major order from Iraq for 16 high-efficiency gas turbines costing 1.5 billion euros (2.1 billion dollars). Iraq's ministry of electricity is struggling to end constant power outages and restore damaged oil and gas-fired power stations. Siemens, the Munich-based conglomerate...

German company Siemens wins huge Iraqi order

Striking Hungarian airport workers petition German ambassador
Representatives of striking Hungarian airport workers handed over a petition on Monday to the German Embassy in Budapest, in a bid to ensure that the German-owned company operating Ferihegy International Airport adheres to European labour regulations. Some fifty striking airport workers gathered in front of the German Embassy to...

Striking Hungarian airport workers petition German ambassador

Catalan papers full of praise for record-breaking Barcelona
 The Catalan media have gone into overdrive on Monday in their praise for record-breaking Barcelona. Barca's 2-1 win away to Villarreal on Sunday, which has broken several records, is front-page news in every Catalan paper on Monday morning. The new records established by Josep Guardiola's slick side are as follows: - seven...

Catalan papers full of praise for record-breaking Barcelona

Hungarian rail strike enters its second week
Rail passengers faced another day of confusion and frustration in Hungary on Monday as a nationwide strike by railworkers entered an eighth day. A spokesman for Hungary's state-owned rail company MAV announced that one of Budapest's three main railway stations was at a complete standstill, while only a few trains were running at the...

Hungarian rail strike enters its second week

Most Dutch expect home values to drop
Three quarters of Dutch nationals expect the value of their homes to drop in the coming months, according to the results of an internet survey released Monday. Marketing and research company Booz & Company and MarketResponse Nederland BV and published on Monday, said 73 per cent of the survey's 1,067 respondents said they thought...

Most Dutch expect home values to drop

Brussels conditionally approves French takeover of British Energy
 The European Union's executive on Monday approved the takeover of British nuclear generator British Energy by French power firm Electricite de France (EdF) as long as the