Facebook looks east for growth June 23, 2010 Facebook plans to expand into China, Russia and Japan in order to become the first social network to reach 1bn users, founder Mark Zuckerberg said yesterday. He told a conference the company would start to make strategic moves after years of relying on organic growth.
Nike posts profit but shares dip June 23, 2010 Sportswear retailer Nike posted quarterly profits that jumped 53 per cent yesterday, but shares dipped two per cent after revenue missed analysts’ goal. The retailer said net profit rose to $521.9m (£349m), for the three months to 31 May. Revenue rose almost eight per cent to $5.08bn, thanks to an upswing in orders for sports [...]
Serbia miss out with Pantelic miss June 23, 2010 SERBIA striker Marco Pantelic missed a sitter from six yards out in the dying seconds to deny his side a place in the last 16. The substitute somehow fired over the bar from Zoran Tosic’s cross as Australia held on for a 2-1 win, which still wasn’t enough for them to qualify. Tim Cahill headed [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 23, 2010 FINANCIAL TIMES NISSAN’S GHOSN TOPS JAPAN PAY LEAGUE Nissan’s Carlos Ghosn has taken top spot on a list of Japan’s best-paid executives after the carmaker revealed it paid its Brazil-born chief executive Y890m ($9.9m) last year. Nissan and other quoted Japanese companies are being forced to report the compensation of individual executives for the first [...]
Italy pin hopes on Pirlo to help seal last 16 spot June 23, 2010 ITALY hope to be boosted by the return of midfielder Andrea Pirlo for this afternoon’s must-win Group F decider with Slovakia in Johannesburg. Much like England, the Azzurri suffered disappointing draws in their opening two games and need a victory to guarantee their place in the last 16. Experienced playmaker Pirlo has been ruled out [...]
Financial reform bill close to completion June 23, 2010 US lawmakers came closer to hammering out legislation to regulate the financial industry yesterday, dropping several proposals in an effort to finalise the new rules by tomorrow evening. A House-Senate panel continued negotiations to merge two major bank reform bills, which aim to overhaul Wall Street and beyond in the wake of the financial crisis. [...]
Sentance shatters consensus with call for rate rise June 23, 2010 A LONE dissenting voice in the Bank of England’s Monetary Policy Committee (MPC) this month urged for a hike in rates, the first time since August 2008 that such a call has been made. External MPC member Andrew Sentance, who has recently expressed disquiet about stubbornly high inflation in both MPC meetings and in the [...]
Australian mining tax could be axed after PM is ousted June 23, 2010 AUSTRALIAN Prime Minister Kevin Rudd stood down this morning after calling a surprise leadership ballot, throwing negotiations on a new mining supertax in the country into jeopardy. Rudd’s deputy, Julia Gillard, will become Australia’s first female Prime Minister after Rudd resigned before the ballot of Labor party MPs at 9am local time (midnight BST). Gillard [...]
Banks mull measures to avoid UK levy June 23, 2010 BANKING analysts at UBS yesterday predicted a surge in creative accounting practices in the banking sector, as firms look to manipulate their books to minimise the impact of the government’s new balance sheet levy. The team at UBS, led by respected analyst John-Paul Crutchley, has already begun to identify possible opportunities for individual banks to [...]
Moody’s joins Fitch and backs Osborne’s austerity Budget June 23, 2010 THE massive £113bn fiscal tightening unveiled by George Osborne earlier this week should ensure Britain retains its AAA credit rating, Moody’s said yesterday. The comments, which follow similar remarks from fellow ratings agency Fitch, will boost the chancellor, who has staked his reputation on ensuring Britain maintains the highest credit rating possible. “The UK Budget [...]
