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11 Mar 2005 08:48 AM
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Abramovich is the richest among the Russians: Forbes:
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The Russians are now the second-richest people over the globe, according to the Forbes Magazine’s 2005 billionaires list. Total fortune of the Russian billionaires amounts for $90.6 billion.
Roman
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11 Mar 2005 08:45 AM
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Microsoft buys Groove Networks to start Longhorn system:
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Groove Networks, the software company of Ray Ozzie, will be part of Microsoft soon, said Microsoft’s founder Bill Gates. Mr. Ozzie will also work for Microsoft.
Bill Gates declined to name the amount that will be paid for Groove. All 200 employees of the company will work
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11 Mar 2005 02:41 AM
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Intel raised the low end of its first-quarter sales forecast:
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On Thursday Intel Corp. raised the low end of its first-quarter sales forecast to the range of $9.2 billion to $9.4 billion, from the previous range of $8.8 billion to $9.4 billion.
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10 Mar 2005 07:23 PM
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Bankruptcy bill to be approved:
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The Senate is on the way to approval of a landmark bankruptcy bill after turning down a controversial amendment that had held up the legislation since the Clinton administration.
The senators rejected an amendment introduced by Democrat Charles Schumer of New York designed to keep
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10 Mar 2005 06:44 PM
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Bond default rate on the rise:
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A slight raise of the global default rate for speculative-grade debt in February signaled a possible turning point in the trend for credit quality, Moody’s Investors Service, the credit rating company, said.
The default rate increased to 2.5 per cent in February compared with 2.3 per cent in January after five issuers defaulted
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10 Mar 2005 06:13 PM
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AIG deal is under investigation:
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A transaction between Berkshire Hathaway’s General Reinsurance Corp. and American International Group Inc. four years ago is now under investigation. Federal and state investigators are trying to find out whether the deal transferred sufficient risk to AIG to allow the company to account for it as an insurance policy, people familiar with the matter said.
This
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10 Mar 2005 05:52 PM
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Top tier rating is becoming less attractive:
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According to a report released by Standard & Poor’s, the credit ratings agency, only six industrial companies retain AAA ratings in the US, compared with a peak of 32 in the 1980s.
Only two of the current six, ExxonMobil and General Electric, have been steady over that period, and most have been going constantly down the credit ladder.
“Not only do companies
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10 Mar 2005 02:39 PM
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Samsung shows mobile phone of next generation:
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New technology developed by Samsung will allow users of its new mobile phone enjoy the advantages of the next generation phone.
New SCH-V770 mobile phone has a seven-megapixel camera and can download and stream music like an MP3 player
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10 Mar 2005 09:47 AM
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BMW fourth-quarter profit rose 30%:
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Profit rose to 549 million euros, or 82 cents a share, from 424 million euros, or 63 cents, last year. Analysts were expecting profit to rise to 485 million euro.
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10 Mar 2005 08:43 AM
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Never mix personal life with career, Boeing hints:
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One never knows where your personal life starts when one is a top employee at such a big company as Boeing. Ex-CEO Harry Stonecipher, however, knows.
He was fired Monday, ten days after his affair with the fellow employee was disclosed. Stonecipher, 68, is married
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10 Mar 2005 08:42 AM
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Oracle chasing another acquisition to beat SAP:
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Oracle, the world’s second biggest software company, made a $525 million bid for Retek, a Minneapolis firm that specializes in software for retail firms like Best Buy, just after the company’s board accepted a $496 million offer from Germany’s SAP AG that is now Oracle’s main rival.
While
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10 Mar 2005 08:39 AM
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CFIUS allowed China’s Lenovo to buy IBM PC unit:
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IBM Corp. said Wednesday the US national security body allowed Chinese PC maker Lenovo Group to buy its PC business.
Lenovo managed to meet the resistance from some lawmakers at the Committee on Foreign Investments in the
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10 Mar 2005 08:37 AM
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LexisNexis clients’ logins stolen by computer thieves:
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About 32,000 customers of database company LexisNexis have lost their logins forcing federal lawmakers to call for tougher ruling on companies’ data access.
Computer thieves now have access to data of the company’s customers using stolen passwords.
LexisNexis
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09 Mar 2005 03:30 PM
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China reduces investment growth:
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Chinese Premier Wen Jiabao announced China’s intention to cut investment growth this year, a goal that could have a negative impact on the whole economy, starting from tax collection to loan growth to personal incomes and imports.
Overinvestment in buildings, factories, infrastructure and other fixed assets has turned out to be the main problem
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09 Mar 2005 01:47 PM
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Bankruptcy bill sees some changes:
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Credit card companies seem to have won to some extent as the US bankruptcy law will see some very fruitful changes.
On Tuesday, the chamber voted to limit debate and rejected an abortion-related amendment in the bankruptcy law. "It is the (Senate Republican) leadership’s intention to complete action on this bill during Wednesday’s session
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