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Contributed by World News
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LOS ANGELES: Rupert Murdoch warned yesterday that the world is “in the midst of an unprecedented credit crisis”, but said his global media company, with a $US5 billion war chest, was well prepared to weather the financial storm. The wily chairman of News Corp said the strength of his company’s balance sheet would allow it to pick up new businesses at a time when competitors struggle. “We have a war chest of approximately $US5 billion in cash and have extended our average debt maturity to more than 22 years,”...
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20 Oct 2008, 0536 hrs IST,AP WASHINGTON: One of President George Bush's top economic advisers said on Sunday that parts of the country probably already are experiencing a recession and it could take a few months before the clogged credit system starts...
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Text: ZURICH: UBS Chairman Peter Kurer is a stern lawyer who embodies the values of conservative Swiss banking -- the exact qualities the bank is desperate to revive after a disastrous venture into risky investment banking. But local competitor Credit Suisse, under the leadership of US former investment banker Brady Dougan, has quietly stolen the mantle of Swiss sobriety, despite the outsider at its helm, in a role reversal of the two Swiss banking giants. "UBS used to be the pillar of...
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Text: PARIS: French water and waste management group Veolia said on Sunday that it had revised down its outlook for its investments and cut its forecast for operating cash flow in 2008 due to the economic slowdown. The world's largest listed water company said in a statement that it would...
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Some 51.7 percent of the Japanese enterprises in Taiwan are satisfied with their current operations in the country, the results of survey released by the Ministry of Economic Affairs on Thursday showed. The survey, commissioned by the ministry and conducted by the Taipei branch of Japan's Nomura Research Institute, was aimed at learning more about how Japanese enterprises view the Taiwanese market and their...
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