Global News

"The Labor Department's report Friday, showing growth in non-farm payrolls in June was only 80,000, has put pressure on the Federal Reserve to boost the economy by launching a new round of bond purchases to lower borrowing costs and spur hiring. "

"Samsung will be releasing its tablet featuring Microsoft Corp's Windows RT software when the operating system is launched. Windows RT devices are likely to be released in October."

"Volkswagen has acquired the 50.1 percent stake in Porsche that it does not own already, for $5.6 billion. It had to reach an agreement with the German tax authorities before it could proceed with the transaction."

"The Rolling Stones guitarist has repeated last year's success and bagged two awards for his radio show at the Arqiva Commercial Radio Awards. "

"Producers behind each of the James Bond movies have teamed up with bosses at the Barbican Centre in London to create a tribute collection that will display Bond memorabilia."

"Rihanna is suing her former accountants for negligence that allegedly resulted in her losing millions of dollars."

"The debt rating of Philippines was raised by Standard & Poor's to the highest level since 2003. It was raised one level to BB+ from BB, which is just one step below investment grade. "

"An additional 750 workers have been brought in Virginia and West Virginia by Appalachian Power Co in an effort to achieve its goal of restoring power to everyone by Saturday. "

"US apartment rents have increased at a rate that has not been seen since before the financial crisis and in the second quarter vacancies have dropped to the lowest level in 10 years."

"The aerospace division of the world's number two truck maker Volvo is being acquired by GKN, the British engineering group, for 633 million pounds ($986 million). The move is designed to boost the capacity and range of GKN's engine component portfolio."

"British insurer Aviva is planning to sell or close 16 underperforming businesses as part of a strategic shake-up in order to improve its finances and stem its declining share price."

"The Australian dollar reached a level which was just 0.6 percent less than a record high against the euro just before the European Central Bank and Bank of England are scheduled to meet to discuss ways to provide economic stimulus for boosting demand for currencies tied to growth. "

"JERSEY CITY, NJ--(SharewellNewsWire.com-07/05/12)- Aoxing Pharmaceutical Company, Inc. (NYSEAMEX:AXN), a specialty pharmaceutical company specializing in research, development, manufacturing and distribution of a range of narcotics and pain-management products, today announced that Mr. Bob Yunjun Ai has resigned as Chief Financial Officer of the Company to pursue other business interests, effective as of July 1, 2012. The Company expresses its appreciation for Mr. Ai's significant contributions to the Company and wishes him the best in his future endeavors. "

"Thomas Nielsen, the president and chief executive of RealNetworks Inc, has resigned after a stint of less than a year at the software company. Its founder and former CEO, Chairman Rob Glaser will temporarily serve as the CEO."

"The European Central Bank is likely to cut its key lending rate to a record low on Thursday. It is, however, not clear as to what action will be taken regarding the bank's deposit rate. "

"A payment deadline due to which Detroit would have to bear a cost of $28 million in revenue if the city's lead attorney refuses to withdraw her legal challenge of the agreement that envisages the financial recovery plan of Detroit, has been successfully pushed back by state officials."

"In June, the sales of Mercedes-Benz luxury cars grew at the slowest monthly rate till date this year mainly because sales in the strategic market of China continued to be sluggish. "

"Brent crude held steady at $100 per barrel on Wednesday on hopes of stimulus action because of weak global economic data and supply disruption worries over rising tensions due to Iran's nuclear program. "

"Massachusetts Attorney General Martha Coakley said Tuesday that more than 1,000 Bay State aging World War II and Korean War veterans had been conned by Life Insurance of North America, a subsidiary of giant Cigna into paying premiums for insurance. She released a court settlement under which the insurance company agreed to refund everything Bay State vets had paid in premiums for the insurance."

"After a high-profile split with GM, Facebook is negotiating again with the auto maker and is trying to prove that its ads do work. GM has not yet committed to a return."