US auto maker General Motors will not become part of the Renault-Nissan alliance. Instead of continuing their negotiations until October 15th, as they had announced, GM chief executive Rick Wagoner called Carlos Ghosn, who runs French auto company R...
The European Union has admitted its last two new members for several years. The EU, a confederation of European countries joined together for greater cooperation on economic, agricultural, and other policy issues, will make Bulgaria and Romania the...
A US judge has given approval for a class action suit by American cigarette smokers against several tobacco companies for deceptive advertising. The suit, which seeks damages of up to $200 billion, claims that advertising for cigarettes sold as ligh...
This week's good news for Italian telecommunications company Telecom Italia is that they are buying AOL's biggest subsidiary for 675 million euros: AOL's German division, which has over one million DSL subscribers. This fits well with Telecom Italia...
Merck of Germany announced plans to buy Swiss Pharmaceutical company Serono for 10.6 billion euros. Earlier this year Merck failed to acquire German competitor Schering, and recently pharmaceutical companies such as GlaxoSmithKline and Novartis had...
In their annual meeting in Singapore with the World Bank, the International Monetary Fund has voted to give increased voting shares to China, South Korea, Mexico, and Turkey. Some countries, including India, Argentina, Egypt, and Brazil, said that t...
After almost reaching $80 a barrel in July, oil prices have dipped below $64, and the Organization of the Petroleum Exporting Countries (OPEC) is worried about further price drops. At a meeting in Vienna, the cartel of mostly mideastern oil-producin...
Telecom Italia, Europe's fifth-largest telecommunications company, announced plans to split its fixed-line and mobile phone units into separate companies. After spinning off their mobile operation Telecom Italia Mobile (TIM) in the 1990s, Telecom It...
Tensions mounted in Singapore as members of the International Monetary Fund and the World Bank gathered for their annual meeting. Representatives of about 500 Non-Governmental Organizations (NGOs) were given credentials to attend, but the Singapore...
A group of three oil companies led by the American company Chevron have announced the discovery of a new oil field in the Gulf of Mexico, about 270 miles south of New Orleans. The new field may have between 3 and 15 billion barrels of oil. The resul...
