AFP 
Twitter’s high-flying Wall Street debut drew attention to the growing power of social media, but it has also raised concerns about a potential bubble in the sector. Opening day gains on Thursday of more than 70 percent after its initial public offering…
Apollo Tyres said Saturday it still wants to pursue its troubled takeover bid for US firm Cooper Tire after a Delaware court ruled the Indian company was not dragging its feet in closing the deal. The proposed merger between Apollo and the much larger…
With deals from London to Singapore, China is seeking a greater role for its yuan currency in global markets to challenge the hegemony of the almighty dollar. The most attention-grabbing reform planned for Shanghai’s new free trade zone is free convertibility…
New Jersey’s Governor Chris Christie won overwhelming re-election on Tuesday, propelling him to the top of a list of Republican White House hopefuls for 2016. Christie, 51, who has led his majority Democratic state since January 2010, won “decisively…
Shares in Tesla, the luxury electric carmaker which has been on a strong run in recent months, skidded lower Tuesday after a disappointing earnings report. Shares in the California firm slipped 9.5 percent to $160.50 in after-hours trade. Tesla said…
Heavily indebted Spanish telecoms firm Telefonica said Tuesday it had agreed to sell a 65.9-percent stake in its Czech unit to Czech financial group PPF for 2.47 billion euros ($3.3 billion). Telefonica will retain a minority 4.9 percent share in Telefonica…
French media and entertainment group Vivendi has reached agreement to sell its 53-percent stake in Maroc Telecom to Emirates firm Etisalat for 4.2 billion euros in cash, Vivendi said on Tuesday. The announcement of the deal, worth the equivalent of $…
The Co-operative Bank announced plans on Monday to close 50 of its branches and axe a “significant” number of jobs in a rescue plan that hands bond investors majority control. Parent company The Cooperative Group said in a statement that investors who…
A Chinese solar firm will pay 3.0 billion yuan ($491 million) for assets of the main subsidiary of Suntech Power, a statement said, in the latest move to restructure the troubled former solar giant. Suntech Power announced in March that its main unit…
Twitter is finding a niche among younger US adults who monitor the messaging service for news on mobile devices, a survey showed Monday. The Pew Research Center report said 16 percent of American adults use Twitter, and that much of what gets passed…
Giant hedge fund SAC Capital has agreed to plead guilty to criminal charges of insider trading and pay $1.8 billion to settle them, the US Attorney’s office announced Monday. SAC, run by multi-billionaire Steven A. Cohen, also agreed to give up its…
The number of banks in the 17-country eurozone has declined over the past five years and they significantly reduced their balance sheets, the European Central Bank said on Monday. “By the end of 2012, banking sector assets in the euro area… had dropped…
A worldwide probe into suspected rigging of foreign exchange deals has reached Europe’s biggest bank HSBC, the bank revealed on Monday when it also announced a jump in quarterly profits. The London-based bank said in its earnings statement that British…
The story of Twitter’s creation is a murky tale complete with betrayed trusts and dueling claims for credit. Local lore, backed by Jack Dorsey, has it that he proposed the idea to fellow Twitter co-founders at a playground in San Francisco. But journalist…
Hellenic Bank, the second-largest lender in recession-hit Cyprus, said Friday it has overshot its 294 million euro ($396 million) recapitalisation needs with three new major stakeholders snapping up shares. The Cypriot Orthodox Church had been the major…