For years we have been hearing of a watch that runs on apps and access the Internet from Apple. But on September 4, 2013, the South Korean behemoth, Samsung Electronics, introduced a digital watch at the Samsung Unpacked Episode 2 in Berlin, a watch that runs on apps and interact with other Samsung family of […]
On Monday, September 2, 2013 Microsoft announced that it is buying Finnish company Nokia’s phone service business for $7.2 billion. Microsoft will become the owner of smartphone and cellular handsets business of Nokia which it is paying $5 billion as well as the Devises and Services unit. Total price that Microsoft agreed to pay will […]
At the beginning of the month, heads of states of the G-20 Summit will meet in Russia. The idea of meeting world financial powers to discuss issues was first introduced by the then Canadian Prime Minister, Paul Martin, and the first financial ministers meeting took place in September of that year. The G-20 consists of […]
WikiLeaks came to the attention of the whole world after several U.S. secret documents were released by the online Web site. WikiLeaks founder Julian Assange holed up in Ecuadorian embassy in London his anti-secrecy Internet site is facing financial trouble according to some reports on the Internet. When Assange revealed classified U.S. secret documents obtained […]
A scandal that found banks rigged Libor rates to increase their trading profits brought the internationally used little known but widely used interest rate measure to the limelight. The London Interbank Offered Rate (Libor) is the average interest rate estimated by London banks to charge to each other for borrowing. Rates are published daily and […]
On July 18, 2013, the City of Detroit filed for Chapter 9 bankruptcy. It is the largest municipality in the U.S. history to file for bankruptcy. The filing also significant because its debt estimated at $18 to 20 billion, way more than the bankruptcy filing by the Jefferson County, Alabama in 2011 at $4 billion. […]
On August 5, 2013, the Web, print media and air waves dominated the news of billionaire Jeff Bezos of Amazon is spending $250 million of his own money to buy the Washington Post. The Post as many call it is faced with dwindling subscriptions and ever decreasing revenue. Within the last five years its revenue […]
In July 2013, Croatia is celebrating its entry into the European Union (EU). It will be the 28th EU member and the third poorest country in the EU after Bulgaria and Romania. It will also be the EU expansion since 2007 when it last admitted Bulgaria and Romania. Croatia became an independent country in 1991 […]
Egyptians once again took to the streets in massive demonstrations in Cairo and other major cities throughout the country demanding that President Mohamed Mursi resign. He has been selected as the first Egyptian president elected by the public a year ago. Certain questionable actions including excessive power grab, taking a direction dominated by the Muslim […]
An employee, Edward Snowden, working for a contractor who provides services to the National Security Agency (NSA) fled to Hong Kong with enormous amount of secret data and the news dominated headlines in print media as well as the Internet. He then released some secret information that the U.S. government is collecting on individuals and […]