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Iceland is pinning its hopes on the Arctic region as the eurozone remains in financial crisisThe president says he would veto a parliamentary decision to seek EU membershipIceland allowed its banks to fail during its crisis, and the economy has since recovered Iceland is pinning its hopes on the Arctic as Europe continues to suffer from high unemployment and faltering growth.Iceland’s president Olafur Ragnar Grimsson told CNN’s Richard Quest: “The Arctic region is gradually becoming one of the most important playing grounds in the global economy.”His comments come four years after the country let its debt-ridden banks fail, and as [...]

All eyes were on Samsung in 2012 as the company continued to field patent attacks from Apple (AAPL) while still managing to grow at an astounding rate. See more tech stories on the Business Technology homepage. Can the company keep up its pace in 2013? In an interview with MIT’s Technology Review blog, newly appointed president and chief strategy officer Young Sohn said Samsung plans to lead innovation in 2013 and beyond, shedding its image as a follower and driving the industry forward. Interestingly, he also says he still uses Apple products, not Samsung devices, in his personal life. Apple [...]

Jeff Zucker will take over as president of CNN Worldwide in January.Jeff Zucker to become new head of CNN WorldwideZucker is a news and programming veteran who rose to head of NBC UniversalWhile producer of NBC’s “Today” show, helped make it No. 1Zucker is “passionate” about journalism Veteran news producer and former NBC Universal chief Jeff Zucker will become the president of CNN Worldwide in January, the network announced Thursday.”Jeff’s experience as a news executive is unmatched for its breadth and success,” said Phil Kent, chairman and CEO of Turner Broadcasting System, CNN’s parent company. “In a career that has [...]

President Barack Obama is projected to have been re-elected as the U.S. President, after major networks said he had enough electoral votes to beat Republican challenger Mitt Romney. S&P 500 futures dropped as results started to come in, and are now down 11.60 points. President Obama is projected by U.S. television networks to have won key swing states, including Ohio, which pushed him past the necessary 270 electoral votes to recapture the White House. COMMENTS: TOM SOWANICK, CO-PRESIDENT AND CHIEF INVESTMENT OFFICER AT OMNIVEST GROUP LLC, PRINCETON, NEW JERSEY AND AN OBAMA SUPPORTER: “Obama wins and will keep Bernanke and [...]

BRUSSELS/ U.S. airlines, through industry group A4A, will lobby the United States’ newly-elected president as soon as he takes office on an issue that has triggered threats of a trade war. All year, an international row has raged over the European Union’s decision to include all airlines using its airports in its Emissions Trading Scheme (ETS), designed to curb planet-warming pollution. The European Union says it is protecting the environment. U.S. opponents say it has breached sovereignty to try to fill its empty coffers. Both houses of the U.S. Congress have passed rare blocking legislation – yet to be signed [...]

Right now, President Obama and Mitt Romney are looking for the one line that will stand out as the defining line of the debate, a line that encapsulates the candidate’s reason for running and all his frustrations with the other guy. It doesn’t necessarily have to be a solution for the nation’s problems. But it does have to immediately resonate with voters.  In 1980, the quip that stood out was challenger Ronald Reagan’s dismissive, “There you go again…” to President Carter. Folks knew exactly what Reagan meant: that we had seen through Carter’s attempts to attack Reagan’s supposedly “radical tendencies” [...]

“The Boomer” is a column written for adults nearing retirement age and those already in their “golden years.” It will also promote reader interaction by posting e-mail responses and answering reader questions. E-mail your questions or topic ideas to thefoxboomer@gmail.com. With more than half of the voting population now over age 50, baby boomers hold a tremendous amount of power in November. The recession and its aftermath have left boomers’ retirement plans and prospects in flux (to put it nicely), and many of us are looking for more economic stability in both the labor and housing market. A new series [...]

HONG KONG Chinese Vice President Xi Jinping will attend an international trade fair this week in an apparent move to dismiss speculation about his health following a two-week absence from public engagements, The Wall Street Journal reported Monday. Xi, widely expected to succeed President Hu Jintao, made his first public appearance since Sept. 1 on Saturday, meeting with students and staff at the China Agricultural University in Beijing, along with three other senior Communist Party officials, the report said. Speculation about his health was sparked after Xi canceled several scheduled meetings, including with U.S. Secretary of State Hillary Clinton, at [...]

President Barack Obama will take the stage tonight to accept the Democratic nomination for president, but there is one group in particular he needs to reach: the business community. “Romney is cleaning up with small businesses,” said Larry Sabato, director at the Center for Politics at the University of Virginia. “A lot of the larger businesses and Wall Street that went with Obama in 2008 are with Romney this time around.” The shift in support doesn’t surprise Robert Shapiro, co-founder of chairman of Sonecon, since the administration has been critical of financial firms’ behavior since the Great Recession. “They are [...]