
Yahoo’s board has approved a deal to buy New York-based blogging service Tumblr for $1.1 billion, US media reports say. The acquisition is expected to be announced as early as Monday. The deal was a “foregone conclusion” and was a unanimous vote by the board, tech blog AllThingsD reported, citing sources close to the matter. [...]

Obama administration knew since June 2012 about an investigation into complaints from conservative tea party groups that they were being harassed by IRS, and the probe was ongoing at the height of the presidential race, a Treasury inspector general revealed Friday. J. Russell George, the Treasury inspector general for tax administration, testified alongside ousted IRS [...]

Senior Pakistani politician Zahra Shahid Hussain has been shot dead in the southern port city of Karachi. Zahra Shahid Hussain was the senior vice-president of Pakistan’s Movement for Justice party (PTI), led by former international cricketer Imran Khan. She was killed by gunmen on a motorcycle outside her home in the city’s upmarket Defence neighborhood. [...]

Duck Commander Phil Robertson and his wife Miss Kay, the stars of Duck Dynasty, sliced some sweet potato pie and filled their audience in about Clayton Homes. “What do I know about Clayton Homes?” Phil Robertson asked. “I know they’re built right here in America.” “And they know the difference between a house and a [...]

Thousands of protesters, led by trade unionists, have rallied in Rome against the policies of Italy’s new coalition government. Wielding red flags and placards, they urged the centre-left prime minister, Enrico Letta, to scrap austerity measures and focus on job creation. Public trust in his fragile coalition with the centre-right is dropping, opinion polls suggest. [...]

Photographer Dario D was fed up with his fast food order not looking quite as appetizing as it did on the advert and decided to see how the food sold over the counter matched up to the promised product. He bought burgers and tacos from some of the biggest chains in the United States and [...]
May 17 2013 | Posted in
Business |
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Dell has reported a 79% slide in net profit, underlining a fall in personal computers sales as more consumers shift to smartphones and tablets. The PC maker’s net profit fell to $130 million in the three months to May 3, on revenue down 2% to $14 billion. Dell is in the middle of a dispute [...]

In his first major speech on the financial crisis, Pope Francis has called on world leaders to end the “cult of money” and to do more for the poor. Free market economics had created a tyranny, in which people were valued only by their ability to consume, the pontiff told diplomats in the Vatican. “Money [...]

Acting head of the US Internal Revenue Service (IRS) Steven T. Miller has quit after it emerged his staff singled out conservative groups for extra scrutiny, President Barack Obama has announced. Treasury Secretary Jack Lew had asked for and accepted the resignation of IRS Acting Commissioner Steven Miller, he said. “I will do everything in my [...]

France has entered its second recession in four years after the economy shrank by 0.2% in the first quarter of 2013, according to official figures. The country’s economy shrank by the same amount in the last quarter of 2012. A recession is defined as two consecutive quarters of negative growth. France has record unemployment and [...]

Japan’s shares have climbed past the 15,000 mark for the first time since January 2008, as the yen continues to weaken – boosting the earnings potential for exporters. The benchmark Nikkei index rose 2% to 15,096, with carmaker Toyota and consumer electronics giant Sony leading the gains. The Nikkei is up 46% since the start [...]

The French government is considering introducing a 1% tax on the sale of smartphones and tablets to help fund local film, music and images. The proposal estimates some 86 million euros ($112 million) could be raised per year. The bid is based on France’s so-called “cultural exception” policy, which aims to protect culture from market [...]

Cyprus has received the first installment of a 10 billion-euro bailout package from international creditors, which was agreed earlier this year. Cyprus received 2 billion euros ($2.6 billion) in loans, said a statement by the European Stability Mechanism (ESM). Another 1 billion euros will be transferred before June 30, the ESM said. Eurozone finance ministers [...]

Virgin boss Richard Branson was the brunt of a thousand jokes on Saturday night as he donned a skirt and a full face of make-up on a flight to Malaysia. Sir Richard Branson, 62, swapped his boxer shorts for a pair of stockings after losing a Grand Prix bet with AirAsia chief executive Tony Fernandes [...]
May 13 2013 | Posted in
Business |
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Former Pakistani Prime Minister Nawaz Sharif is celebrating with his supporters, amid early signs that his party will be the largest after parliamentary elections. Media projections based on partial results suggest a big lead for Nawaz Sharif’s Muslim League, and he has already claimed victory. The election should lead to the country’s first transition from [...]

Parliamentary elections are under way in Bulgaria with opinion polls predicting no outright winner. Mass protests against low living standards and widespread corruption forced the government of the centre-right Gerb party to resign in February. However, the run-up to Sunday’s election has been marked by voter apathy and claims of fraud. On Saturday prosecutors said [...]

Pakistan votes in landmark national and provincial elections. The vote marks Pakistan’s first transition from one civilian government to another in its 66-year history. However, the run-up to the election has been marred by violence in which more than 100 people have been killed. A bomb blast in the port city of Karachi on Saturday [...]

Former Italian PM Silvio Berlusconi’s conviction for tax fraud has been upheld by an appeals court in Milan. The court also reinstated a four-year prison sentence and five-year ban from public office Silvio Berlusconi was handed in October. Silvio Berlusconi was convicted of artificially inflating prices of film distribution rights bought by his company, Mediaset, [...]

Former cricketer and leading Pakistani politician Imran Khan is recuperating in hospital after falling off a makeshift lift that was taking him onto a stage at an election rally in Lahore. Doctors say that Imran Khan received stitches in the head and treatment for injuries to his spine. But they say that his spinal cord [...]

Former cricketer and leading Pakistani politician Imran Khan has been injured after falling off a makeshift lift that was taking him onto a stage at an election rally in Lahore. It is unclear how badly Imran Khan was hurt, but he suffered visible head injuries in the fall. Imran Khan was taken to hospital for [...]

An International Monetary Fund (IMF) report has revealed today that debt-laden Greece has made progress in improving its finances, but the country must do more to fight tax evasion. In a report, the IMF said Greece had made “exceptional” progress on reducing its budget deficit since 2010. But the IMF, one of the lenders that [...]

Former Italian PM Giulio Andreotti, one of the most prominent political figures of post-war Italy, has died aged 94. Giulio Andreotti was prime minister seven times between 1972 and 1992. He led the Christian Democrat party, which dominated Italian politics for decades. He was dogged in later years by allegations of corruption and Mafia links. [...]

Malaysia’s ruling National Front coalition has won a simple majority in the country’s parliamentary election, extending its 56-year rule, with two-thirds of seats confirmed. PM Najib Razak’s Barisan Nasional coalition had passed the threshold of 112 seats in the 222-seat parliament, the Election Commission said. Defeated opposition leader Anwar Ibrahim accused the party of widespread [...]

Malaysia is voting in what is widely expected to be the most closely contested general election in the country’s history. PM Najib Razak’s Barisan Nasional (National Front) coalition is up against Pakatan Rakyat, a three-party alliance headed by Anwar Ibrahim. Voters are faced with returning the ruling party, in power for 56 years, or choosing [...]

Michaela Biancofiore, an Italian junior equal opportunities minister, has resigned the day after being sworn in to new coalition, having said gay people invited discrimination by “ghettoizing” themselves. Michaela Biancofiore was defending herself against accusations of homophobia made by human rights groups. But she invoked more wrath with Saturday’s comments to Italian media. The sacking [...]