| Toshiba drops out of HD DVD war
( 19-Feb-2008 ) |
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Toshiba has said it will stop making its high definition DVDs, ending a battle with rival format Blu-ray over which would be the industry standard.
Following a review of its business, Toshiba said it would stop production of HD DVD players and recorders.
The HD DVD format has suffered as major US film studios backed the Blu-ray format, which is being developed by electronics firm Sony and partners.
Analysts
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| Venezuela breaks ties with Exxon
( 13-Feb-2008 ) |
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Venezuela's state oil company PDVSA has announced it is suspending sales of crude to Exxon Mobil, in response to legal action brought by the US firm.
President Hugo Chavez has said he will no longer do business with Exxon which he says is not welcome in Venezuela.
Exxon wants compensation following the nationalisation of a project in Venezuela's largest oil reserve.
The firm receives only about 2% of its supply from Venezuela, bu
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| Polaroid snaps out of making film
( 08-Feb-2008 ) |
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Polaroid, the company behind the instant camera, is to stop making the film used in its iconic technology.
The firm is to close factories in Massachusetts in the US, Mexico and the Netherlands after the digital age left almost no market for the film.
Polaroid stopped making the instant cameras themselves about a year ago.
It now focuses on other ventures which include a portable printer for mobile phone ima
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| Credit crunch to top Japan talks
( 08-Feb-2008 ) |
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Finance ministers from the G7 group of wealthy nations are meeting for a day of talks in Tokyo.
The fallout from the global credit crunch will top the agenda, pre-meeting briefings suggest.
The ministers will also consider how best to prevent a similar crisis developing again.
Japan hopes the talks will help calm regional stock markets rattled by the rippling effect of the problems in the US mortgage market
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| Congress approves US economy plan
( 07-Feb-2008 ) |
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The US Congress has passed a $167bn (£86bn) economic stimulus plan aimed at helping to bolster the world's largest economy and avoid a recession.
The package includes one-off rebates of up to $600 for individuals and $1,200 for couples plus $300 for each child.
The Senate voted to approve measures after a week of manoeuvring that saw agreements to provide extra money to retired people and the elderly.
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| Yahoo's Semel Steps Down As Chairman
( 01-Feb-2008 ) |
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NEW YORK (Associated Press) - Terry Semel stepped down as Yahoo Inc.'s chairman Thursday, severing his ties with the slumping Internet icon 7 1/2 months after he resigned as chief executive under shareholder pressure.
The Sunnyvale-based company said another director, Roy Bostock, will replace Semel as the nonexecutive chairman of its 10-member board.
Yahoo said Semel decided to give
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| FBI investigates sub-prime crisis
( 29-Jan-2008 ) |
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The FBI is investigating 14 companies embroiled in the sub-prime mortgage crisis as part of a crackdown on improper lending.
It did not identify the companies but said the investigation encompassed developers, sub-prime lenders and investment banks.
FBI officials said the agency was looking at instances of accounting fraud and insider trading.
The cases could lead to potential civil or criminal charges, the
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| French trader under investigation
( 28-Jan-2008 ) |
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Preliminary charges have been filed against Jerome Kerviel, the trader blamed for huge losses at French bank Societe Generale.
He will be investigated for breach of trust, falsifying documents and breaching computer security - but not for fraud.
His lawyer, Elisabeth Meyer, called the judges' decision a "great victory" as Mr Kerviel was released on bail.
Societe Generale says his
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| Police search rogue trader's flat
( 25-Jan-2008 ) |
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Police have searched the flat of Jerome Kerviel, the man said to be the rogue trader who lost 4.9bn euros ($7.1bn; £3.7bn) at Societe Generale.
Officers spent two hours at the address in the Paris suburb of Neuilly before leaving with a number of briefcases.
While Mr Kerviel's exact whereabouts is now unknown, his family has leapt to his defence, insisting he is innocent.
"He is being made to car
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| Worldwide share jitters continue
( 25-Jan-2008 ) |
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Global stocks finished down on Friday, as concerns returned about the state of the worldwide financial sector.
With analysts saying some investors were also profit taking after two days of solid rises, Wall Street's main Dow Jones index lost 171 points to 12,207.
The Nasdaq ended 35 points lower, while London's FTSE fell 6.8 points to 5,869, and Frankfurt's Dax lost 4.3 points.
Analysts said sentiment was h
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| Oil prices rise in Asian trading
( 24-Jan-2008 ) |
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Oil prices rose in Asian trading Thursday after slipping more than $2 a barrel in the previous session amid concerns that crude inventories in the United States are growing even as the economy and fuel demand are cooling.
Traders were awaiting the release later Thursday of this week's U.S. inventory report by the Energy Department's Energy Information Administration.
The report is expected to show U.S. oil
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| Chinese growth 'at record levels'
( 24-Jan-2008 ) |
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China says its economic growth has reached its highest level in 13 years.
Increased exports and a construction boom helped the economy expand by 11.4% in 2007.
But overheating of the economy remained a danger, despite a slight easing of the expansion in the fourth quarter, the government said.
Inflation is also a serious concern, with many Chinese people hit by recent dramatic increases in the price of food and other commodities.
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