Business and Finance news

News Corp. chairman Rupert Murdoch defended his globe-spanning, half-a-century long media career Wednesday, telling an inquiry into U.K. media ethics that he never called in favors from the powerful people his papers covered.
Speaking softly, deliberately and with dry humor, Murdoch parried one question after the other about the influence his dominant media operations had in […]

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Asian stock markets sank Monday as Europe’s debt crisis threatened to intensify again while growth in China slowed.
Japan’s Nikkei slid 1.4 percent to 9,505.27, bruised by a higher yen and an announcement Thursday by electronics and video gaming giant Sony Corp. that it would slash 10,000 jobs.
South Korea’s Kospi was 0.9 percent lower at 1,991.56 […]

ST. LOUIS • Four days after pleading guilty to state fraud charges, US Fidelis co-founder Darain Atkinson appeared Monday in U.S. District Court in St. Louis to admit he also broke federal laws in cheating customers and failing to declare or pay taxes on $13 million received from the company in just one year.
In a […]

Hedge funds reduced bullish bets on commodities for a second consecutive week as the Federal Reserve signaled it may refrain from more monetary stimulus, increasing concern that growth will slow and curb demand for raw materials.
Money managers lowered net-long positions across 18 U.S. futures and options by 2.8 percent to 1.1 million contracts in […]

An Italian coast guard official vehemently demanded that the captain go back to his crippled cruise ship to oversee its evacuation, but the captain repeatedly resisted, according to a shocking audiotape made public Tuesday.
Prosecutors have accused Capt. Francesco Schettino of manslaughter, causing a shipwreck and abandoning his vessel before all passengers were evacuated during the […]

Asian stock markets were mostly lower Thursday amid new signs of pressure on Europe’s banking system and a downturn on Wall Street.
Benchmark oil lingered above $99 per barrel while the dollar rose against the euro but fell against the yen.
Japan’s Nikkei 225 index fell 0.7 percent to 8,367.73. Hong Kong’s Hang Seng Index was 0.9 […]

South Korea’s ruling party forced a long-stalled free trade deal with the United States through parliament Tuesday, enraging opposition lawmakers who blasted their political rivals with tear gas.
South Korean lawmakers voted 151 to 7 in favor of ratifying the landmark trade agreement in a surprise legislative session called by the ruling Grand National Party, parliamentary […]

Until this past summer, I used to love shopping at outlet malls. A few times a year, my friends and I would head across the border from Vancouver into Washington state to go shopping at the Tulalip Premium Outlet shopping centre. And whenever we were on vacation, one of the first things we looked up […]

His legacy tarnished and his hopes of clinging to power dashed, Silvio Berlusconi faces daunting legal and financial challenges now that he has left office and the prospect of life outside the international spotlight.
He has vowed he won’t run again for office, though few expect he’ll abandon Italian politics for good. Berlusconi himself has already […]

The prospect of new governments in Greece and Italy helped support market sentiment Friday, at the end of a hugely-volatile week when investors fretted over the future of the euro currency and the outlook for the global economy.
With Greece having appointed Lucas Papademos as the prime minister of a coalition government, and Italy expected to […]