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Archive for November, 2012

Facebook: No Plans to Build Games

Despite changes announced last night in its contract with Zynga (ZNGA) that allows Facebook (FB) to develop its own games, the social network run by Mark Zuckerberg says it has no plans to jump into the burgeoning business. “We’re not in the business of building games and we have no plans to do so,” a Facebook spokesperson said. “We’re focused on being the platform where games and apps are built.” A source close to the matter told Business the clause in the addendum that gives Facebook the right to develop games was more a legal item, rather than a major […]

Japan unveils $11bn stimulus package

PM Yoshihiko Noda and former PM Shinzo Abe during a general election debate November 30.Japan approves $ 10.7bn stimulus aimed at helping small businesses, unemployed workers and earthquake victims The stimulus is Japan’s second in a month and comes as the country hovers on the brink of its fifth recession in 15 yearsFormer PM Shinzo Abe of the Liberal Democrats is likely to win Japan’s December 16 general election polls suggest(Financial Times) — Japan’s government has approved its second round of stimulus in a little more than a month, as prime minister Yoshihiko Noda tries to pep up a flagging […]

NEW YORK American Airlines’ bankrupt parent has asked a judge to extend by six weeks, through March 11, the period in which it has the exclusive right to propose a plan to exit bankruptcy. The request, made jointly with its creditors’ committee, was filed on Friday in U.S. Bankruptcy Court in Manhattan. The current exclusive window is set to end on January 28. AMR Corp filed for bankruptcy a year ago in hopes of reducing labor costs and returning to profitability. Its smaller competitor, US Airways Group Inc , is making a push to acquire it out of bankruptcy. AMR […]

U.S. House of Representatives Speaker John Boehner on Friday said Republicans and President Barack Obama are locked in a stalemate, a month before a $ 600 billion “fiscal cliff” of tax hikes and spending cuts is set to kick in. “There is a stalemate; let’s not kid ourselves,” said Boehner, speaking to reporters a day after Obama made a budget offer that Republicans called unacceptable. Obama and Republicans are holding firm in their respective positions, with the biggest sticking point being whether to extend low tax rates on household income above $ 250,000. Boehner said Republicans still oppose raising tax rates on any income group.

Groupon Inc’s shares fell more than 10 percent, a day after the online daily deals company’s board backed founder-CEO Andrew Mason, disappointing investors who hoped for a leadership change. The company’s shares, which have lost about 85 percent of their value since Groupon’s high-profile Wall Street debut last year, were down 9 percent at $ 4.11 on the Nasdaq on Friday. The five-year-old company, known for transforming local business advertising by marketing internet discounts on everything from spa treatments to dining, has seen its business cooling since it debuted on the Nasdaq at $ 28 per share. Much of the […]

NICOSIA Cyprus will require up to 10 billion euros ($ 13 billion) to refinance its banks, severely affected by the euro zone debt crisis and exposure to Greece, according to a draft deal with international lenders seen by Reuters on Friday. The deal, contingent on approval from euro zone finance ministers and national parliaments, also states that the objective of the adjustment program with the Mediterranean island is to achieve a primary balance of 4.0 percent of GDP in 2016. “Noting that the European Banking Authority (EBA) deadline of 30 June 2012 has been missed by two banks and that […]

By asking the right questions of their customers, businesses will be able to access valuable knowledge that can help them significantly in the area of customer loyalty and retention. Customizable surveys present a simple and effective way to address this critical issue for companies, while engaging customers in the process. With over a decade of experience in developing user-friendly, informative solutions for the field of customer experience management, GoalLine Solutions  [ Read More ]

With the implementation of new international accounting standards, it is believed that public companies around the world will be able to attract more foreign capital and that ultimately the global economy will benefit. These new standards, called the International Financial Reporting Standards (IFRS), have already replaced existing systems in over a hundred countries, with the rest set to follow shortly. Canada recently moved away from its version of generally accepted  [ Read More ]

SAN FRANCISCO/NEW YORK/LONDON For Leo Apotheker, the former Hewlett-Packard CEO, a July 2011 meeting with Autonomy founder Mike Lynch at a chic seaside resort in France was pivotal to his effort to remake a storied technology giant. In the nine months since taking the helm at HP, Apotheker had tried furiously to find a way to move the lumbering company away from its low-margin computer hardware business and into the lucrative corporate software and services arena. Apotheker was looking for a big, transformative acquisition, two people familiar with the situation said, and after overtures to several companies went nowhere, he […]

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