After redefining the MP3 player market with their iPod, Apple Computer is moving into the mobile phone market with a new product that they call the iPhone. (Network technology giant Cisco Systems is suing Apple over the use of the name iPhone, which...
In April of 2005, Jacques Chirac and the German Chancellor at the time, Gerhard Schrder, announced plans to spend over a billion euros on a joint French-German search engine to compete with the American company Google. The project would be called Qu...
China's central bank has raised the reserve requirement for banks in order to cut back on the amount of lending currently taking place in that country. Their economy was growing so quickly that many worried that a financial crash would come before t...
An undersea earthquake off the coast of Taiwan damaged underwater communications cables, hurting technology and banking services in much of Asia. All data and voice traffic had to go through the remaining undamaged cables and satellites, slowing dow...
Chrysler, an American subsidiary of the German auto maker DaimlerChrysler, has signed a deal with China's Chery Automobile Company to design and manufacture a subcompact car in China that will be sold around the world. DaimlerChrysler's supervisory...
The Christmas season in Spain begins with the drawing of the numbers for the world's biggest lottery, El Gordo. This year, El Gordo (or The Fat One) paid out more than 2 billion to lucky ticket holders across Spain, with 18 million going to Rebollo...
Last week was a dramatic one for Thailand's economy. Monday, Thai bank regulators put new rules into effect requiring banks to keep 30% of new foreign currency deposits for at least a year in order to slow the trading on their baht currency. Tuesday...
In more economic news from China, the Chinese government is opening up local business to foreign banks. As one of the conditions for China joining the World Trade Organization five years ago, the country is allowing foreign banks to incorporate in C...
The United States and China held two days of talks in Beijing on economic policy with no conclusive results. After the US trade deficit with China reached a record $24.4 billion recently, many Americans feel that the Chinese keep the value of the yu...
New York City-based Pfizer Incorporated, the world's largest pharmaceutical company, has stopped research on torcetrapib, a drug they hoped to sell to treat heart disease. The drug was supposed to raise levels of what is known as good cholesterol. T...
