Monthly archive June, 2012
Oil Production to Increase By 20%
LONDON – After a decade of zero growth, research showed that global oil production will increase by 20% by 2020. According to a study by research firm Wood Mackenzie, Major oil companies BP, Shell, Exxon Mobil, Chevron, ConocoPhillips, Statoil, Eni, and Total will increase its production from 8million barrels per year to 10million by...
Germans Say No to New Bailouts
HANOVER, Germany – The German entrepreneur, Roland Frobel, considers the crisis of the euro as a hurricane that could have been detected on the horizon therefore prevented and should not have an impact on their country. Frobel is currently in a favorable economic position. His firm recently created nearly 3,000 jobs in Germany and...
Storms and Heat Plague the U.S.
WASHINGTON -I n the central region of the U.S. Atlantic coast last Saturday, more than two million people were without power Saturday due to hurricane force winds that hit the area overnight. It is expected that the power restoration in Maryland, Virginia, West Virginia, and the District of Columbia take up to five days....
RIM is Offered a Team Up with Microsoft
NEW YORK – Research In Motion Ltd. is under tremendous pressure to consider unpleasant options. Two of these is selling their business network or form a partnership with Microsoft Corporation. The main reason why they are being asked to reconsider their business plan is because they delayed the launch of their new line of Blackberry...
Apple Manages to Block Samsung Sales
Last Tuesday, June 26, a District Court in San Jose, California, granted Apple’s request for an injunction to ban U.S. sales of the tablet Samsung Galaxy Tab 10.1 . “While Samsung has the right to compete, they are not entitled to compete unfairly, flooding the market with products that violate the rules,” wrote Judge...
Apple Suppliers Violates Labor Laws
HONG KONG – Apple suppliers have violated local labor laws by imposing excessive works hours and failure to insurance for their workers. This was announced by a labor rights group based in New York. Vendors such as Apple and Foxconn Technology Group have been targeted by labor rights groups who say the most valuable...
Microsoft Office in Greece Suffers from Bomb Attack
ATHENS – Unknown people attacked the offices of Microsoft in Athens in the early hours of Wednesday. Police said a van smashed against the front door of the establishment and a bombing device that burned part building’s façade was detonated. No injuries were reported because of the attack took place in the wee hours...
Mexico Will Lose $750 Million
MEXICO CITY – Argentina’s unilateral decision to suspend the Economic Complementation Agreement (ACE) 55 with Mexico will have a negative impact on the latter’s domestic auto industry. The loss will amount about $750 million this year. The president of the Mexican Association of Automotive Industry (AMIA), Eduardo Solis Sanchez, noted the possibility that the Mexican...
Coty Aims to Raise $700 Million in Stocks
NEW YORK – Coty Inc., a sister company of the international brands Calvin Klein, Davidoff, and Chloe, made a presentation last month at the an initial public offering of shares. This was after leaving a proposed purchase of cosmetics maker Avon Products Inc. The IPO market has shown little activity for more than a...
FBI Arrests Cyber Criminals
NEW YORK – Dozens of people in four different continents were arrested by the FBI against the financial online fraud black market. This news was announced by the federal agency last Thursday. The arrests that took place in the United States, Europe, Asia, and Australia ended a two-year investigation against online hackers. It is said...
Roche Will Close Down Center in New Jersey
ZURICH - Pharmaceutical company Roche said it plans on cutting 1,000 jobs by closing a plant in Nutley, New Jersey. This move will be in an attempt to reduce development costs of drugs. “The overall number of clinical development programs has grown substantially,” said Roche CEO, Severin Schwan, in a statement Tuesday. “The planned consolidation...
Argentina Abandons Automotive Deal with Mexico
MEXICO CITY – Mexico’s government announced on Monday that Argentina has that left the automotive trade agreement that they had. In recent years, the automotive industry has been noted to be a deficit for the South American country. Since late March, the Mexican government had ruled out renegotiating the agreement with Argentina and is now...
