Category: Business

Facebook Places raises concerns over privacy

Based on comments on news sites and Facebook’s official blog, many users appear apprehensive about Facebook Places, the social-networking site’s new location feature.
It’s not clear whether users’ unfavorable reactions stem from privacy concerns or just confusion about the site’s Places feature, which allows users to “check in” at restaurants, bars and other gathering spots. But it may be a good thing for Facebook that the site has no “dislike” button.

Aurobindo’s ‘Ampicillin’ injection gets USFDA Approval

Drug maker, Aurobindo Pharma has received U.S. Food and Drug Administration (FDA) approval for ampicillin injection in single dose and bulk pack formats.

The drug has annual sales of USD 45 million in the U.S. market and is a generic equivalent of Sandoz Inc`s branded drug Ampicillin, it said.
The said drug is indicated for the treatment of respiratory tract infections and bacterial meningitis.

McDonald’s eyes China expansion

The McDonald’s restaurant chain is raising money using China’s yuan currency instead of U.S. dollars.

The world’s largest fast-food company sold $29 million worth of yuan-denominated bonds in Hong Kong on Thursday.  McDonald’s said this is the first time a multinational company has sold bonds using China’s currency.

US jobless on the rise

The number of Americans filing first-time claims for unemployment insurance has increased to its highest level since November.

The U.S. Labor Department said Thursday there were 500,000 first-time applications for the week ending August 14 — 12,000 more than the week before.

The Labor Department’s report also said the number of Americans getting extended or emergency unemployment benefits rose to almost 5.6 million at the end of July. 

World oil prices fall

The price of crude oil dropped more than two percent in New York trading Wednesday, falling to the lowest level in about a month. The price of a barrel of...

UK economy showing strength

Surprisingly strong British retail sales and a further reduction in Britain’s big budget deficit last month are giving rise to hope that the country’s sputtering economy can maintain growth into the second half of the year.

But economists cautioned against reading too much into one set of figures on Thursday, warning there was still a long way to go to ensure Britain’s recovery from a deep recession.

China on an economy winning streak

During the ‘cold war,’ a term used to describe the tension between communist and capitalist countries that lasted from 1947 to 1991, one of the fears was a military conflict between Russia or China and the U.S.
It didn’t happen. The potential of a military war instead morphed into an economic war.

Germany performance lifts up European economy

European economic growth accelerated sharply in the second quarter of 2010 as Germany’s best performance since reunification more than made up for the struggles of Spain, Ireland and recession-ravaged Greece.

A forecast-beating surge in German gross domestic product combined with a solid if less impressive rise in France to push the aggregate GDP growth rate of the 16-country euro zone to 1.0 percent from the previous quarter and past that of the United States, which is showing signs of flagging.

1.3 million Homeowners leave Obama’s mortgage-relief program

Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out.

The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday’s report from the Treasury Department suggests the $75 billion government effort is failing to slow the tide of foreclosures in the US, economists say.

Brazilian firm fined for slave labour

A Brazilian company in the agriculture sector has been fined for employing 180 slave labourers including adolescents. The fine of $ 2.8 million was levied against Lima Araujo Agropecuaria by...