Global News

"The pioneer of the mobile email, RIM is passing through a difficult period as it has postponed the make-or-break launch of its next-generation BlackBerry phones until next year. It shares slumped 14 percent at $7.86."

"Japan's industrial output dropped to its lowest level since the March 2011 earthquake, down 3.1 percent in May from the previous month. Automobile output was limited by weakness in European demand."

"The faltering economic growth is not able to support job growth and June is expected to be another weak month in respect of the job market. The number of applications for unemployment benefits in the latest week is above a level that is too high to lower the unemployment rate. "

"Petronas, Malaysia's state oil company, has offered to acquire its Canadian joint- venture partner, Progress Energy Resources by making a friendly bid of C$4.8 billion ($4.7 billion), amounting to C$20.45 a share."

"Nissan is planning to add 1,000 jobs at its Canton plant in Mississippi as it is planning to start production of the Sentra compact sedan and two previously announced vehicles at the plant later this year."

"IT services giant Accenture Plc Thursday reported an increase in third-quarter profit, as revenues grew at all operating groups and geographic regions, especially in outsourcing business."

"Provo, Utah has displaced Raleigh N.C. as the best US city for business in a new ranking released Wednesday. It reached the top of the Forbes.com list due to its strong job growth and low crime rate. "

"Peter B. Madoff is expected to plead guilty to criminal charges on Friday in Federal District Court in Manhattan. He has agreed to a prison term of 10 years as part of his plea deal and to forfeit $143 billion. "

"Although, the demand for long-lasting manufactured goods sprang back more than expected in May with an increase in a gauge of planned business spending, this momentum is not likely to be sustained due to a staggering global economy."

"A total fine of $452 million was levied on British bank Barclays PLC on Wednesday by US the and UK regulators for "misconduct" related to Libor and Euribor, which are benchmark rates that refer to the amount that banks levy for lending to each other. "

"The field conditions have been hot and dry from early spring similar to what happened 24 years ago leading to significant crop losses. The US corn prices have risen 17 percent this month due to the drought and over concerns that crop losses will badly impact the United States. "

"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."

"The chief executive of Barclays Bank is coming under increased pressure from politicians to resign after the bank was fined $450 million for manipulating interest rates at which banks lend to each other. He has agreed to give up his bonus this year. "

"Mixed ratings have been given to Facebook's stock by Wall Street analysts at the end of the 40-day quiet period after its IPO. Some have given it "Neutral" and others "Buy" ratings Wednesday."

"Sony's dismal performance in the past few years was the subject of shareholders' discussions at its annual meeting at a Tokyo convention hall this week, when shareholders wanted to know whether its new CEO would be able to pull it out of the deep abyss of losses. "