Knowledge Porch

Business

Dominique Strauss-Kahn, 62, has been taken into custody on May 14, 2011 by the authorities while the under arrest I.M.F. Chief faces sexual assault allegations. According to the details, he was arrested this Saturday from Sofitel Hotel, Manhattan near Times Square for allegedly assaulting a maid in his room; sexually. The renowned French economist and... [Read more of this review]

U.S. stocks rose modestly Wednesday in a partial bounce back from the prior day’s steep drop, with equities rising along with crude after the government’s inventory report. “The DOE [Department of Energy] numbers came out and lifted energy prices, and there’s been a strange positive correlation” between equities and oil,... [Read more of this review]

American Airlines late Tuesday filed a lawsuit against Orbitz Worldwide and its prime stakeholder Travelport Ltd, claiming the travel agents have established a costly stranglehold over the way the airline’s airfares are distributed and seeking damages related to their “monopoly.” Travelport controls three out of the five companies... [Read more of this review]

Total’s CEO believes that the pump prices will inevitably reach the threshold of two euros per liter of super, but could not say how horizon. Interviewed in Tuesday’s edition of Le Parisien on whether a super two euros per liter was inevitable, Christophe de Margerie said: “There is no doubt.” “The real question is when?... [Read more of this review]

Oil companies will fund up to 100 million euros increase tax deductions related to fuel costs for some taxpayers, said Monday the economy minister, Christine Lagarde. The sharp rise in pump prices in recent months has revived the debate on fuel taxation and the means available or not the State to absorb the increase in household energy bills. Several... [Read more of this review]

Portugal wants the EU grants ask for. “The government has decided today, Commission for financial help to ask the European,” said Prime Minister José Sócrates on Wednesday night. Reason why financial markets are the high debt of the country and the resulting problems, fresh loans to the international will to. The EU Commission announced... [Read more of this review]

Google Replaces Eric Schmidt As CEO With Co Founder Larry Page Google has announced it will replace its chief executive Eric Schmidt with one of its original founders, Larry Page, marking a new era in the company’s history. The move ends the firm’s decade-long triumvirate management structure between its two founders and its chief executive,... [Read more of this review]

Greece will present the final figures for the deficit at the end of the month. The Finance Minister Giorgos Papakonstantinou completely excluded the possibility of restructuring the debt of Greece, in statements made in the margins Tsernompio conference in northern Italy, according to news agency Dow Jones Newswires. I’m not the only ‘rejecting... [Read more of this review]

Color Labs Inc on Thursday which is a phone based social network was founded by veteran entrepreneur Bill Nguyen. Recently Palo Alto, Calif., starts up to save $41 million from top project of capital firms that contains Sequoia Capital. The main idea which is behind Color is the phone location of sensing abilities that can build the users for them and... [Read more of this review]

Walgreen Co. which is a drugstore, on Tuesday said that in the second quarter their profit increased to 10% from last year. Deerfield, Illinois which is based on net earnings increased to $0.80 per share from $669 million to $739 million. The recent result that came has the addition of $0.01 per share in the restructuring and also in the restructuring-cost.... [Read more of this review]

Those who see world as global village are quite right as effects of Japan’s earthquake can be seen all around the world including America where General Motors Co has announced to shut down his pick-up truck plant set up in Louisiana for a short period due to spare parts shortage that were imported from Japan. Though, General Manager said that... [Read more of this review]

The number one economic power of the world is also facing higher prices on the back of economic meltdown. The February data shows that consumers had paid higher prices particularly for gasoline and vegetables while costs of other basic items are also showing an upward trend. The Labour Department of USA has issued a report revealing that CPI index has... [Read more of this review]