Global News

"Upbeat US economic news led to the rise of oil prices Wednesday, while scorching temperatures lifted natural gas to its highest level in more than five months."

"Airbus is planning to aggressively enter the world's largest market for single-aisle airplanes by setting up an assembly plant in Mobile, Alabama in the US. It will invest several hundred million dollars in th"

"British bank HSBC raised about $430 million after selling its holdings in India's Axis Bank and Yes Bank on Thursday."

"Reverse mortgages are increasing in the US as homeowners are taking out a reverse mortgage at the first available opportunity, which is the age of 62, as per federal law. Most of the home owners are paying off their debt with the proceeds and also using it to supplement retirement income."

"An article printed in a newspaper published through news press release states that there was a time when a printed word in the newspaper was held sacrosanct. Now, the competition is driving the media to give a new meaning to the everyday events by twisting the facts. Stephan Cohen's moral panic model explains the methods used by the media top press release sites to exaggerate and distort the event. Moral panic refers to an exaggerated reaction given by the media or people to a particular event. The overreaction leads to exaggerated the seriousness of the event. The people or the group, social deviants who are targeted by the News Press Release driven media for causing the harm in the society are called folk devils, says Cohen."

"Iran has retaliated against South Korea's move on Tuesday to stop accepting Iranian oil by threatening to stop all import of goods from that country. "

"Boeing has appointed Ray Conner to replace Jim Albaugh as the new head of its best known commercial plane unit in order to gain an upper hand in its battle against Airbus for the $100 billion-a-year aircraft market. "

"Sony Corp's new CEO, Kazuo Hirai outlined his revival plan at the company's annual shareholder meeting in Tokyo on Wednesday and said that the plan will succeed in reviving the company."

"The FAA has directed airlines to put back redesigned oxygen systems in aircraft lavatories, a year after it had ordered them to be removed on concerns that they could be used by terrorists as weapons."

"The rapper Curtis "50 Cent" Jackson has been released from a hospital after suffering minor injuries when his SUV was involved in a traffic accident early Tuesday morning in New York. "

"Leveraged buyout firm Kohlberg Kravis Roberts has agreed to take a 63 percent stake in Australia's GenesisCare for an undisclosed sum. "

"A project that started in 2008 for revamping the McCarran International Airport at Las Vegas will finally culminate this week with the opening of a $2.4 billion airport terminal that will help lift the economy of Nevada from the deep abyss of the Great Recession."

"Clients of hedge fund manager J. Ezra Merkin, who were victims of Bernard Madoff's historic investment scam, can breathe easy as they will now receive $405 million as per a settlement announced Sunday. Attorney General of New York state said that the agreement represented "a victory for justice and accountability." "

"Moody's downgrades credit ratings of 28 Spanish banks. The announcement comes on day Spain's government formally asked for $125bn loan package to recapitalize its banks. "

"Hooters-style restaurants like Twin Peaks are experiencing a mini-boom even as other mid-priced options like Applebee's and Bennigan's are feeling the heat of the economic downturn, as they provide food not merely for the stomach but also for the male ego. "

"A tentative agreement has been reached between Lockheed Martin Corp and the Machinists Local 776 union late Saturday after negotiations started Wednesday. The machinists will vote this week on a new labor contract. "

"Sales of new single-family houses in May reached the highest level since April 2010, showing that the US housing market is looking up and that the industry is no longer a drag on the broader US Recovery. "

"Tax prep specialist H&R Block Inc late Tuesday said its fiscal fourth quarter earnings fell 11 percent from last year, owing to restructuring costs and store closures. "

"An article printed in a newspaper published through news press release states that there was a time when a printed word in the newspaper was held sacrosanct. Now, the competition is driving the media to give a new meaning to the everyday events by twisting the facts. Stephan Cohen's moral panic model explains the methods used by the media top press release sites to exaggerate and distort the event. Moral panic refers to an exaggerated reaction given by the media or people to a particular event. The overreaction leads to exaggerated the seriousness of the event. The people or the group, social deviants who are targeted by the News Press Release driven media for causing the harm in the society are called folk devils, says Cohen."

"Philip Falcone, the billionaire hedge-fund manager is likely to be sued this week by the Securities and Exchange Commission over claims he improperly borrowed client money to pay his taxes. "