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India, China growing much faster: Obama

Obama has said though the US remains the military superpower and has the largest economy, countries like India and China are fast catching up.

Monster online jobs index dips in June

Monster Worldwide Inc said its employment index fell to 117 in June from 118 in May.

Gannett to layoff 1,000 as ad sales slide

Gannett Co., which owns USA Today, is laying off more than 1,000 staff to try and combat persistent declines in revenue.

UAE retail rents fall first time in a decade

Retail rents in Dubai and Abu Dhabi dropped for the first time in a decade in this financial year.

Buffett donates $1.25 bn to Gates Foundation

Warren Buffett has donated Berkshire Hathaway shares worth $1.25 billion to the Bill & Melinda Gates Foundation.

Wining, dining still popular in downturn

A MasterCard survey shows that consumers outside Europe and United States do not intend to cut back on dining out and having fun.

Indo-American CEO briefs Obama on saving jobs

An Indian American was among the few chiefs of some of the most innovative companies of the US to brief President Barack Obama.

SEC may tighten executive pay rules: Sources

SEC is considering requiring companies to include the estimated value for stock options granted during the year, the people said.

GM CEO makes case for bankruptcy asset sale

Henderson said if the sale is not approved by July 10 and GM loses access to government funding, the company would be forced to liquidate.

‘StanChart in talks on RBS China, India units’

StanChart is in talks to purchase assets in China and India owned by Royal Bank of Scotland.

Airlines lost $3 bn in first quarter: IATA

The world's airlines lost more than $3 bn in the first quarter of 2009, the IATA said on Tuesday.

Madoff sentenced to 150 yrs imprisonment

Bernard Madoff was sentenced to 150 yrs in prison - the maximum penalty judge could give him.

Asian employment at risk in downturn

Many Asian economies rely on exports to the United States and Europe to drive growth.

Microsoft to sell Razorfish: Report

Microsoft acquired the Razorfish, as part of its $6 billion takeover of aQuantive in 2007.

Climate change deal crucial to greener trade: WTO

A global climate change deal in Copenhagen is crucial to ensure that world trade becomes a catalyst for the greening of the economy rather than an obstacle, trade and environmental chiefs said .

Qantas cancels orders for 15 Boeing 787s

Qantas Airways Ltd said today it had canceled orders for 15 Boeing 787s and delayed the delivery of a further 15 aircraft due to turbulent market conditions.

Trade ministers gear up for Pittsburgh G20

Trade ministers want to point to concrete progress in the long-running Doha round to free up world trade.

Carl-Henric Svanberg is new BP chairman

BP announced that it has appointed Ericsson CEO Carl-Henric Svanberg as chairman of BP.

Expats in Asia best paid; US, UK-based suffer

Want the good life despite the dire economy? Head east, according to a survey showing some of the world's highest-paid expatriates live in Asia and the Middle East.

US economy has ‘no bounce’: Buffett

Warren Buffett said that the US economy has 'no bounce' and will take time to recover.

Citi to hike base salaries for workers: Report

Citi will increase base salary of its rank-and-file employees by as much as 50%, a report said.

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