Finance & Economics | WPN World People News

Hit by economic downturn in Europe, UK mobile phone major Vodafone has reported near flat profits after a 4 billion pounds write down on the value of its assets in Italy, Spain, Portugal and Greece.

The Organization for Economic Cooperation and Development(OECD) Tuesday called on governments and Europe's central bank to act quickly to help maintain the slow but uneven economic recovery across regions and not let the euro area crisis derail global growth.

US Senate Committee on banking will soon be examining whether JPMorgan Chase Co. violated rules requiring the bank to publicly and timely disclose material changes in trading, after it reported losses of at least $2 billion in credit derivatives on May 10.

US Ambassador Susan Rice and other Security Council members are greeted by UNMIL's Moustapha Soumaré upon arrival in Liberia.

China's largest e-commerce provider Alibaba Group Holding has agreed to repurchase a 20 per cent stake held in the company by Yahoo! for about $7.1 billion.

BlackRock, a major US asset management company, has agreed to repurchase the entire $6.1 billion worth of its stock held by British bank Barclays on completion of a secondary offering of its common stock which commenced Monday.

Dalian Wanda Group of China Monday said it has agreed to acquire AMC Entertainment, the second largest theater chain in the US with 346 multiplexes in America and Canada, for a staggering $2.6 billion.

Around seven thousand oil and natural gas blocks will be put up for auction by the US government in June.

The world's largest futures exchange, CME of the US, has decided not to expand its grain trading times.

A natural gas pipeline planned from Turkmenistan to India is expected to receive favourable consideration from India's state-owned utility company GAIL.