Breaking Financial Markets News

EU leaders look to end Apple-style tax avoidance schemes

Reuters © Men are silhouetted against a video screen with an Apple logo as they pose with an Apple iPhone 4 smartphone in this photo illustration taken in the central Bosnian town of Zenica, May 17, 2013. REUTERS/Dado ...
Top Spain store chain juggles 5 bn euros debt

MADRID (AFP) - Spain's top department store chain El Corte Ingles must restructure five billion euros ($6.5 billion) of debt, the company said Tuesday, citing economic conditions as Spaniards shop less in the recession.El Corte Ingles, whose green logo is a familiar sight on Spanish high streets, employs 98,000 people, selling a variety of products including clothes, food and travel ...
PayPal to be in all RadioShack stores starting in May

By Alistair BarrSAN FRANCISCO (Reuters) - PayPal, the online payment operation owned by eBay Inc, announced a new partnership on Tuesday with RadioShack Corp that will introduce PayPal into all of the electronics retailer's stores starting this month.PayPal has been testing a way for customers of smoothly store Jamba Juice to order ahead using PayPal's smartphone application and pick ...
Microsoft unveils next Xbox games console

Microsoft Corp has given a first look at its new game console, hoping the newly named Xbox One will build on a solid core of gamer fans and become a hub for living room entertainment. The third-generation console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus near ...
Amazons Thin Margins Do Not Support Sky-High Valuation

Image via CrunchBase Amazon's lofty valuation is not supported by the fundamentals of the company. The belief that Internet retail is or will be more profitable than traditional retail is untrue. Amazon is in a competitive, low margin business that cannot justify the profit growth implied in its valuation. Amazon's after-tax ...

Movie Review

Donnie Darko [DVD]

The titular character of 26-year-old Richard Kelly's feature debut Donnie Darko is a fascinating enigmaa troubled suburban teen with dark eyes and a morbid sense of humor who may or may not be schizophrenic. Haunted by strange visions of a six-foot rabbit with a twisted metallic face and obsessed with questions about time travel and the ability to see one's future, Donnie (Jake Gyllenhaal) ... ...

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Apple grilled about tax havens

Apple executives defended the company's tax strategy on Capitol Hill Tuesday, claiming that it pays one of the highest effective tax rates of any major ...
The market doesnt lie Housing recovery is for real

If the housing market is really on the mend, that is undeniably a good sign for the broader economy and the stock market. Guess what? It's increasingly looking like the housing rebound is, to pull a famous Seinfeld phrase, real and spectacular. Home ...
Herbalife hires new auditors

Investors seemed pleased with the progress, sending shares of Herbalife up sharply in afternoon trading. Herbalife has been in the spotlight for several months, after hedge fun ...
Stocks Investors shift focus to Bernanke

Investors are eager to hear what he has to say about the central bank's stimulus policies, which have been a big driver of the stock rally. A number of Fed officials ...
Feds Dudley says new plan needed to end stimulus

The Federal Reserve needs to go back to the drawing board to plan its strategy for winding down its controversial stimulus program, New York Federal Reserve President William Dudley suggested ...

More Breaking Financial Markets News

On the record

Nothing will ever completely replace playing the game I love, however I feel like I'm starting a new adventure and I'm genuinely excited about what lies ahead. I'm fortunate to have been given many opportunities throughout my career and now I feel it's my time to give back.

David Beckham

The world's best known footballer was speaking after formally announcing his retirement.

Hotel Review

Beach Rotana Hotel & Towers

I could not find the Web site for this hotel, and it was not listed on any of the Internet ...

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Featured Story

Russia to scrap world's biggest n-subs

Russia will decommission and scrap two of the world's largest submarines by 2018, a defence industry source has said.

The Severstal and the Arkhangelsk, both Project 841 (Typhoon-class) ballistic-missile submarines, are based at Severodvinsk on the White Sea. They will be withdrawn from the Navy by this year-end and will begin to be dismantled.

"This process is to be completed before 2018-2020 at the latest," the source said, adding the boats are outdated and it is too costly to modernise them.

A third submarine of this class, the Dmitry Donskoy, has been modernised as a test platform for Russia's new Bulava submarine-launched ballistic missile It will remain in service in that capacity for some time yet, the source said.

Six Typhoon-class submarines entered service with the Soviet Navy in the 1980s, and remain the largest submarines ever built. Three have already been scrapped.

--IANS/RIA Novosti

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