BY Meghan Foley | December 16 2012 6:20 PM In 2012, the year in which PC shipments declined for the first time in more than a decade, much attention was given to the rising popularity of the smartphone.
A pedestrian is reflected in the window of a branch of the Royal Bank of Scotland in London . (Reuters) The UK's unions have demanded nationalisation of the Royal Bank of Scotland (RBS), along with a major shakeup of the country's banking sector to make it more beneficial to the economy. In a statement, the Trade Union Congress (TUC), which represents 6.3 million British workers, said banks were responsible for the financial crisis but are unwilling to finance the country's productive sectors.
Japan 's Prime Minister Yoshihiko Noda at a news conference in Tokyo. (Reuters) Japan has announced the suspension of its five trillion yen (£39.9b) spending plan as the country's political parties were not able to reach a consensus on the issue.
Top Post-Market Nasdaq Movers (Cynosure, Maxygen, KiOR, Cray, TGC, Emmis, Steel Dynamics, Merge Healthcare)
The top after-market Nasdaq gainers Friday were Cynosure Inc, Maxygen Inc, KiOR Inc and Cray Inc. The top after-market Nasdaq losers were TGC Industries Inc, Emmis Communications Corporation, Steel Dynamics Inc and Merge Healthcare Inc. Gainers Cynosure Inc (CYNO) shares climbed 3.61percent to $28.16 in after-hours trading.
After breaking from decades of military rule, Myanmar's parliament ratified legislation promoting foreign investment on Friday, opening the southeast Asian country to investment from companies including MasterCard Inc. ( NYSE : MA), the Coca-Cola Company ( NYSE : KO) and General Electric Co
Is Germany headed for a recession? This chart sure does not make the situation look pretty. Source: BNP Paribas With unemployment at its lowest level in 20 years, GDP growth that's exceeded analyst expectations so far this year, low inflation and a general perception that it is the most economically robust country in Europe, the casual observer might be tempted to think that Germany is some kind of paradise of plenty.
Source claims that the FSA is worried about the solvency of UK banks, should it impose stringent product bans and compensation amounts (Photo: Reuters) The Financial Services Authority (FSA) did not recognise the size or importance of banks mis-selling derivatives to businesses as early as last year and has privately expressed concerns that stringent restrictions on banks selling certain products to customers or ratified compensation plans and amounts will threaten the solvency of the UK's largest banks. A well-placed senior source close to FSA probe into UK banks mis-selling complex derivatives to small-to-medium enterprises (SMEs), revealed emails and details of private discussions exclusively to the IBTimes UK , that the FSA did not acknowledge the size or importance of the situation as early as September 2011. "When the FSA was contacted about 20 to 30 cases of businesses being mis-sold complex derivatives products last year, they said that that they didn't think that this was a big enough issue for the regulator to look into," says the source.
Manufacturers recovered their lost output in July from the June Jubilee public holiday (Reuters) Manufacturing sector activity in July recovered more than its losses from a Jubilee-disrupted June, according to official data, with overall production in the UK also regaining its lost ground and some in welcome news for the recession-struck UK economy.
Top After-Market Nasdaq Movers (Smith & Wesson, Ulta Salon, Vical, Bazaarvoice, MAP, Audience, Mattress Firm, Accuray, Envivio, Aceto)
The top after-market Nasdaq gainers Thursday were Smith & Wesson Holding Corp, Ulta Salon, Cosmetics & Fragrance Inc, Vical Inc, Bazaarvoice and MAP Pharmaceuticals. The top after-market Nasdaq losers were Audience Inc, Mattress Firm Holding Corp, Accuray Inc, Envivio Inc and Aceto Corp. Gainers Smith & Wesson Holding Corporation (SWHC) shares climbed 19.78 percent to $10.78 in after-hours trading Thursday.
Service sector firms in the UK saw a sharp increase in activity in August according to private industry data (Reuters) Britain's service sector outperformed expectations in August, according to private industry data, a welcome signal for Chancellor George Osborne that the country will lift out of recession in the third quarter of the year. Firms in the service sector, which account for three quarters of overall UK GDP , picked up more contracts in August, boosting their activity, said researchers at Markit in their purchasing managers index (PMI) survey report.