Washington, April 21 (Xinhua) The International Monetary Fund (IMF) said Tuesday that losses stemming from the US mortgage crisis may reach $4 trillion and the global financial system “remains under severe stress”.
The IMF said in January that it expected the deterioration in US-originated assets to reach $2.2 trillion by the end of next year.
Washington, April 21 (ANI): Scientists have developed a new method for systematically identifying bugs in aircraft collision avoidance systems, high-speed train controls and other complex, computer-controlled devices, collectively known as cyber-physical systems (CPS).
London, April 21 (ANI): Singing sensation Susan Boyle’s performance on Britain’s Got Talent may soon go on to top the most-viewed YouTube video list.
The 47-year-old had left everyone dazed with her jaw-dropping performance of the Les Misérables song ‘I Dreamed a Dream’ on the ITV talent show.
New York, April 21 (DPA) Bank of America Corp. Monday became the latest US bank to report a stunning return to profitability in the first quarter of this year, easing some concerns about the financial industry despite expectations of further credit losses in future.
Bank of America reported a $2.8-billion profit in the first three months of 2009. The bank even earned $4.2 billion before making a series of dividend payments to preferred shareholders. The company reported $1.2 billion in profits in the first quarter of 2008.
New York, April 21 (DPA) The global economic crisis has scrambled the pecking order among US firms, with ExxonMobil ousting Wal-Mart as the top revenue-earning company.
The energy company vaulted to the top of the business magazine Fortune 500 list, pushing the world’s largest retailer to second place.
Johannesburg, April 21 (Xinhua) Soccer’s world governing body FIFA will earn about 25 billion rand (about $2.7 billion) from television rights to broadcast the 2010 World Cup in South Africa, an official said.
FIFA TV director Niclas Ericson told reporters that it was a massive increase from the 22 billion rand FIFA received for the past two World Cups combined.
Hyderabad, April 20 (IANS) Tech Mahindra, the new owner of scam-hit Satyam Computer Services, will announce an “open offer” Tuesday to obtain an additional 20 percent stake in the software major, Satyam chairman Kiran Karnik said here Monday.
Tech Mahindra, which deposited Rs.2,910 crore (Rs.29.1 billion) in an escrow account Monday for a 31 percent stake in Satyam, will see its total holding increase to 51 percent after the open offer.
Jaipur, Apr 18 (ANI): In Rajasthan, the Business Process Outsourcing (BPO) companies dealing in domestic market have not been affected by the economic slowdown so far.
New Delhi, April 18 (IANS) Kingfisher Airlines Saturday raised fuel surcharges by up to Rs.300 following successive rises in jet fuel prices.
“Consequent upon successive increases in ATF (aviation turbine fuel) prices, from midnight today (Saturday), the fuel surcharges of Kingfisher Airlines stands increased by Rs.200 for sectors below 750 km and by Rs.300 for sectors above 750 km,” a company statement said.
Mumbai, April 18 (IANS) Indian equities markets inched up at the end of a truncated week Friday, posting marginal gains even as opinion remained divided over the sustainability of the rally that has taken a key index over the 11,000 mark.
The markets had remained closed Tuesday on account of Ambedkar Jayanti.