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Sunday 24.06.2018 | Name days: Jānis

Study: iPad competitors have better chance in Europe

Future rivals to Apple’s product iPad have more chances in Europe than in the United States of America, but they must slash their prices not to lose this opportunity, according to Forrester, IT research firm.

Gold price jumps record-high for second consecutive day

Gold price has surged over 3%, beating all the previous records and mounting over 1 770 U.S. dollars per ounce. Such a rise was affected by plummeting stock market and concerns over relapsing into economic recession after Standard & Poor's slashed the U.S. credit rating.

ECB to rescue Italy and Spain from default

On August 7, the European Central Bank officially announced its intention to buy government bonds issued in the euro area in order to stabilize the financial situation.

Oil drops 3 dollars on S&P downgrade

On Monday, August 8, oil fell 2 dollars amid the international rating agency kā Stadard & Poor's decision to downgrade the U.S. credit rating down to AA+. The move has also sparked fear of yet another recession.

U.S. loses its S&P AAA rating

The United States of America have lost their highest credit rating (AAA) granted by the international ratings agency Standard & Poor’s. This comes as a significant blow to the country which is struggling to escape default.

Europeans grow more optimistic

Residents of Europe are growing more and more optimistic about economic developments, as a greater proportion of people believe the crisis is already over, according to Eurobarometer 2011 report.

Nokia starts cutting jobs

Nokia Siemens Networks (NSN) is about to trim 1 500 jobs with an aim to cut spending after Motorola telecom network unit was purchased for 1.2 billion dollars in April, according to NSN spokesman.

Probe launched against IMF’s new head

The French court has decided to launch an investigation against Christine Lagarde, head of the International Monetary Fund and former French Finance Minister.

Oil approaches 10 percent weekly drop

U.S, crude dropped below 86 dollars a barrel on August 5, accounting for the biggest decline since May 2011, as fear of yet another global economic downfall is making investors head towards the exits in a commodities sell-off.

Swedbank quits Russia

Raffaizenbank is taking over Swedbank credit portfolio in Kaliningrad, as Swedbank is shutting down its branch there.

Dollar drops all-time low against Swiss franc

Swiss franc, a currency especially demanded by investors during the global crisis, is up historically high against the US dollar and the euro.

Global cyber crime finally uncovered

McAfee, one of the leading data security companies in the world, has announced it has discovered a historically large cyber crime that has been stretching for the past five years.

EU probes nine complaints against Google

The technology company Google has overall encountered nine complaints, which are currently being investigated by the EU institutions. So far, the European Commission has confirmed only four actions brought against Google.

All eurozone countries ready to help Greece

All 17 eurozone block member states are ready to make their contribution to the financial aid package for the debt-stricken Greece, which is set to take place in September, according to the European Commission.

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