Monthly Archives: June 2009

Bernard Madoff, the man behind the notorious ‘Ponzi’ scheme was sentenced to 150 years of imprisonment by the US District Court on Monday. Denny Chin, the US District Judge said that he hoped the sentence would serve as deterrence, retribution and symbolism for the victims of Madoff’s nefarious fraudulent schemes. The sentence effectively means...

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The Bank for International Settlements has warned that if central banks delay too long in raising interest rates, inflationary trends might set in motion. Located in Basel, Switzerland, the Bank of International Settlements is the oldest international financial organization. The BIS oversees the operations of all the central banks and acts as a counterparty...

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General Motors Corp has decided to end a joint venture with Toyota Motor Corp after negotiations failed on which type of vehicle to manufacture. The world’s two largest automakers, GM and Toyota, have been jointly operating an auto assembly plant, the New United Motor Manufacturing Inc or Nummi since 1984. In April this year,...

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Argentina, one of the biggest exporters of wheat, may pull out from the world market due to drought-like conditions back home. Argentina is not only one of the largest wheat growing nations but also the fourth-largest exporter of wheat in the world. However continuing dry weather till September is likely to slash the national...

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One of the most high-profile events in the world of horse-racing is the Royal Ascot which got over on 20th of this month. The presence of the British royal family as well as the best riders from UK and across the world shows that this event of the elite has lost none of its...

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Japan’s industrial production climbed for the third straight month in May, ushering in hopes that the economy was finally emerging from the worst recession since the Second World War. Industrial output in Japan rose by 5.9% in May according to a report released by the Ministry of Trade in Tokyo on Monday. This was...

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Investigations have linked a Colorado meat company to around 18 cases of suspected E.coli contamination in the US following which the company has issued recall of the beef supplied by it. The US Agricultural Department said on Sunday that the beef supplied by JBS-Swift Beef Co may be the cause of at least 18...

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Tata Motors, India’s biggest vehicle manufacturers, launched luxury brands Jaguar and Land Rover in the country on Sunday. Tata Motors makes about 60% of all the trucks and buses made in India and in recent times it has sought to expand its presence in the global markets. Last year it bought the marquee brands...

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A tour of the Australian outback is not for the fain-hearted and yet those who venture through the endless plains find themselves under the spell of its wild beauty. Australia’s Queensland region is the place to head for if you feel like having a journey on the wild side. Travelling through The time-worn landscapes...

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Crude oil futures leaped above $70 a barrel on Thursday in the wake of signs that the worst of the recession seems to have passed and the economy could now look ahead to better days. Benchmark rates of crude oil for August delivery rose by $1.56 to cross the $70-mark and finally settle at...

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