(PTI): Russian hackers reportedly have stolen tens of millions of dollars from Citigroup, a claim rejected by the US banking giant.
Citing anonymous government officials, the Wall Street Journal reported that the hackers, related to a Russian cyber gang, attacked
Toyota plans to raise output to 7.5mn units
Published in December 31st, 2009
Posted by The Business Time in Business
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China’s industrial output to grow 11%
Published in December 30th, 2009
Posted by The Business Time in Business
(PTI): China’s industrial output is expected to rise an estimated 11 percent in 2010 based on an 8 percent economic growth target set by the government.
As China’s industrial production will likely have an 11 percent increase over next year, achieving the government’s target of 8% growth in Gross Domestic Product (GDP) will be “no problem,” [...]
Japan unveils record $1 trillion budget
Published in December 29th, 2009
Posted by The Business Time in Business
(PTI):Japan has unveiled a record 92.29 trillion yen ($1 trillion) annual budget designed to revive its recession-hit economy.
Japan’s three-month-old cabinet approved the budget for the next financial year that begins in April amid growing worries about its mounting debt. The budget reflects Prime Minister Yukio Hatoyama’s campaign pledge to increase spending for child
UK unemployment peaks at 2.8mn in 2010
Published in December 29th, 2009
Posted by The Business Time in Business
(PTI): Despite reports showing a recovery in the British economy, unemployment in the country is to carry on rising at least until the summer of 2010.
The latest forecast from the Chartered Institute of Personnel and Development (CIPD) released Monday shows UK unemployment will peak at 2.8 million in 2010. The total number
Earning reports boost US stocks
Published in December 19th, 2009
Posted by The Business Time in Business
(PTI): American stock markets have swung higher after two big technology companies said their business is improving.
Following the announcements by Oracle Corporation and Research in Motion, the Dow Jones industrial average gained over 20 points to reach 10,328.89. Business software company
US banks failures hit 140
Published in December 19th, 2009
Posted by The Business Time in Business
(PTI): Seven more US banks have been shut down by regulators, bringing to 140 the number of failed American banks this year.
Two of the biggest closures were in California. The rest were in the states of Alabama, Florida, Georgia, Michigan and Illinois. Banks with $14.4 billion in total assets were seized in six
