Australia's Billabong posts mammoth $771mn loss
Embattled Australian surfwear brand Billabong reported a huge Aus$859.5 million (US$771.7 million) net annual loss Tuesday -- triple the firm's market value and far worse than analyst forecasts.
Greece may need new bailout of 10bn euros Greek Finance Minister Yannis Stournaras said that if Greece required a new bailout in 2014, it would be a "much smaller" package of around 10 billion euros with no austerity conditions attached.
26 August 2013
Brazil to spend $55 billion to defend sagging real Markets and analysts cheered Friday after Brazil's central bank pledged $55 billion until year's end to prop up the sagging real while Latin America's biggest economy is showing weak growth.
Microsoft eyes new course as Ballmer sets retirement Microsoft chief executive Steve Ballmer announced Friday he would retire within 12 months, opening a new chapter for a company struggling to keep pace with the fast-changing tech sector.
Nokia says India 'least favourite market': report Finnish telecom giant Nokia has told India's government that the country is now its "least favourable market" to operate in and it makes better sense to export its products from China.
23 August 2013
Global manufacturing data helps Asia markets rebound Asian markets firmed on Friday as a slew of upbeat manufacturing data from around the globe overshadowed concerns about the US Federal Reserve's plans for its stimulus programme.
23 August 2013
UK Islamic TV channel fined for inciting violence Britain's broadcasting watchdog fined an Islamic television channel £85,000 ($133,000, 99,700 euros) after a presenter said anyone disrespecting the Prophet Mohammed should be killed.
22 August 2013
China manufacturing rebounds: HSBC A closely watched indicator of Chinese manufacturing turned positive for the first time in four months in August, HSBC said Thursday, in a sign of renewed strength in the world's second-largest economy.