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Archive for February 7th, 2008Discover sells Goldfish to Barclays at big lossPosted by UK Economy News
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7Feb 08 Discover Financial Services said on Thursday it agreed to sell its Goldfish credit card unit in Britain to Barclays for $70 million (36 million pounds), abandoning a money-losing business it bought two years ago for $1.68 billion, as consumer credit worsens.
Read full story ARM’s Google phone platform demo due MondayPosted by UK Economy News
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7Feb 08 Chip designer ARM will demonstrate a prototype of Google's Android mobile phone platform in action next week at the world's biggest wireless fair, a source close to the company said.
Read full story Comments Off Gazprom threatens to cut gas to Ukraine next weekPosted by UK Economy News
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7Feb 08 Russian gas monopoly Gazprom said Thursday it could cut some of Ukraine's supplies from next Monday if Kiev did not resolve its gas debts by then, but stressed that deliveries to western Europe would not be affected.
Read full story Comments Off Weak dollar rocks Rolls-Royce profitPosted by UK Economy News
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7Feb 08 Rolls-Royce, the British maker of plane engines, said Thursday that a weak dollar caused its 2007 net profit to slump by more than a third to 606 million pounds (809 million euros, 1.184 billion dollars).
Read full story Comments Off German steel workers step up strike, shut down plantsPosted by UK Economy News
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7Feb 08 Some 10,000 German metal workers walked off the job on Thursday as a strike for higher wages gained momentum and shut down several production plants, unions said.
Read full story Comments Off ARM said to show Google phone prototype next weekPosted by UK Economy News
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7Feb 08 British chip designer ARM will show a prototype mobile phone based on Google's Android platform next Monday at the Mobile World Congress wireless show in Barcelona, a source close to the company said on Thursday.
Read full story Comments Off French judges put Warner Music CEO under formal investigationPosted by UK Economy News
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7Feb 08 French judges have placed the head of Warner Music, Edgar Bronfman Jr, under formal investigation as part of a probe into French media giant Vivendi Universal, legal sources told AFP on Thursday.
Read full story Comments Off Merck to pay over 650 mln dlrs to settle US drug pricing probePosted by UK Economy News
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7Feb 08 Pharmaceutical giant Merck & Co. has agreed to pay over 650 million dollars to resolve allegations of fraudulent drug pricing and improper kickbacks, the US Justice Department announced Thursday.
Read full story Comments Off Euro falls as Trichet tones down hawkish stancePosted by UK Economy News
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7Feb 08 The euro fell against the dollar on Thursday after the European Central Bank held its rates steady and appeared to raise the chances of interest cuts later this year, according to analysts.
Read full story Comments Off Prosecutor wants rogue SocGen trader heldPosted by UK Economy News
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7Feb 08 The Paris public prosecutor on Thursday called for the detention of Jerome Kerviel, the dealer at the centre of a multi-billion trading scandal at bank Societe Generale, while investment banks rallied around its chairman.
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