HP poised to eliminate up to 30,000 jobs Hewlett-Packard is poised to eliminate as many as 30,000 jobs to compensate for dwindling demand for personal computers as more people connect to the Internet on smartphones and tablets, according to reports published Thursday.
Global leaders seek to corral Europe crisis The leaders of eight of the world’s biggest economies meet this weekend outside Washington, seeking to keep Europe’s debt crisis from spiraling out of control and jeopardizing fledgling recoveries in the US and elsewhere.
BoE warns of EU crisis storm Bank of England Governor Mervyn King said officials have prepared for dangers posed by Europe’s debt crisis, after the bank lowered growth forecasts and raised predictions for inflation this year.
Indian rupee hits all-time low The Indian rupee plummeted to an all time low on Wednesday to 54.46 rupees to the dollar, or up to Rs14.81 to the dirham, breaching its previous record low of 54.39 struck on December 15.
GCC ministers of commerce hold 45th meet RIYADH - UAE Minister of Economy, Sultan bin Saeed Al Mansouri is participating in the GCC ministers of commerce meeting started on Wednesday in Riyadh.The 45th meeting of GCC ministers of commerce is being held within the framework of the committee of trade cooperation.
Greek worries push European markets down further LONDON — Fears that Greece might leave the euro currency union, with uncertain consequences for the rest of Europe, pushed the continent’s markets down again on Thursday, though Asian stocks eked out gains thanks to good economic growth figures out of Japan.
World stocks mixed amid bargain-hunting vs caution BANGKOK — Asian stocks eked out gains Thursday as traders hunted for bargains after sharp selling in recent days, but markets in Europe fell amid intensifying fears of a messy exit by Greece from the euro common currency.
Gold off 4-1/2 month low on increased physical buying LONDON - Gold rose almost 1 percent on Thursday, bouncing off a 4-1/2 month low, as weaker prices attracted new physical buyers, but gains were likely to be limited as the euro was undermined by fears of a deepening debt crisis in Greece.
US retail sales simmer down Retail sales in the US rose in April at the slowest pace of the year, showing unseasonably mild weather and pre-Easter shopping may have pulled consumers to stores the prior month.
Italy banks slapped with downgrades UniCredit and Intesa Sanpaolo were among 26 Italian banks that had their credit ratings cut one to four levels by Moody’s Investors Service, which cited weakened earnings and the country’s economic outlook.
