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  • Yahoo buys blogging platform Tumblr for $1.1 bn cash Yahoo buys blogging platform Tumblr for $1.1 bn cash

    NEW YORK - Yahoo promised "not to screw it up" as it formally announced its acquisition of the popular Tumblr blogging platform for $1.1bn in cash, giving the company a much-needed base in social media to reach a younger generation of users. The relaxed wording of the memo for one of the internet giant's biggest acquisitions was echoed in the memo sent by David Karp, Tumblr's 26-year-old ...

  • Actavis buying Warner Chilcott in $8.5bn deal Actavis buying Warner Chilcott in $8.5bn deal

    WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...

  • New business jet Challenger 350 launched by Bombardier New business jet Challenger 350 launched by Bombardier

    GENEVA - Canadian aeroplane maker Bombardier has expanded its leading Challenger family of business jets with the launch of the new Challenger 350 aircraft in collaboration with global leader in private aviation, US firm NetJets. The launch on Monday was held at a special event here at the European Business Aviation Conference and Exhibition (EBACE). Bombardier said deliveries of the ...

  • South African regulator gives nod for Eskom wind power project South African regulator gives nod for Eskom wind power project

    JOHANNESBURG - The National Energy Regulator of South Africa (Nersa) has granted power producer Eskom a licence for its Sere wind farm in the Western Cape, paving the way for the company to start construction of its $254.3 million (R2.4-billion) project. Sere is the Nama word for "cool breeze". The wind farm project is scheduled to become fully commercially operational by the end of ...

  • Morgan Stanley to sell Indian private banking arm to StanChart Morgan Stanley to sell Indian private banking arm to StanChart

    MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...

Movie Review

Airplane! [DVD]

Airplane! [DVD]

Having already honed and perfected their unique brand of guerilla comedy in their long-running Kentucky Fried Theater and 1977's The Kentucky Fried Movie (which was directed by John Landis), it was finally time for the ZAZ team (brothers David and Jerry Zucker and their childhood friend Jim Abrahams) to make their own feature-length movie. The possibility of pulling it off seemed slim, ... ...

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  • Work starts on creation of new Dubai island

    Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...

  • Philip Morris to buy out Carlos Slims stake in Mexican JV

    from their Mexican joint venture for about $700 million (462 million pounds).Grupo Carso will sell its 20 percent stake in Philip Morris Mexico in a deal that the U.S. company said would add marginally to its earnings per share in the fourth quarter.Philip Morris said the agreement was subject to final price adjustments based on the Mexican unit's performance over a period of time."We ...

  • Microsoft expected to reveal next-generation Xbox at headquarters presentation

    In this June 18, 2012 photo, Microsoft CEO Steve Ballmer comments on Microsoft Xbox before unveiling its new Surface, a tablet computer to compete with Apple's ...

  • Indexes edge higher on Wall Street in midday trading eyes on Federal Reserve moves

    NEW YORK - Stock indexes are edging higher in midday trading on Wall Street as investors look ahead to the Federal Reserve's next moves. The Dow Jones industrial average was up 32 points at 15,367 at noon Eastern Daylight Time Tuesday, a gain of 0.2 percent. The Standard & Poor's 500 index was up a point at 1,667, or 0.08 percent. The Nasdaq composite was up two points at 3,498, ...

  • Medtronic beats expectations drives stock up 6 percent

    Medtronic beat fourth-quarter profit and revenue expectations on the strength of its international operations, driving the stock up more than 6 percent in mid-morning trading to just over $53 a share. Adjusted earnings were $1.10 per share, up 11 percent, compared to the $1.03 per share Wall Street analysts had expected. Revenue of $4.46 billion, up 4 percent, surpassed Wall Street's ...

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