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The European Union's energy commissioner, Guenther Oettinger, warned lawmakers in Brussels that the Fukushima Dai-Ichi nuclear power plant was "effectively out of control," sparking a global market panic. The Dow Jones industrial average plummeted 2% as investors scrambled to respond to the escalating crisis. Meanwhile, Republicans
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Bijan Sabet, general partner at Spark Capital and Twitter board member, discussed the skyrocketing valuations of social media companies on Bloomberg TV. With Facebook's valuation reaching $50 billion and Groupon's approaching $3 billion, investors are wondering what the next big thing will be. Sabet, who was
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Carlos Slim, Mexico's 71-year-old business magnate, has retained his title as the world's richest person for the second consecutive year, according to Forbes magazine's annual global ranking of billionaires. Slim's estimated net worth is $74 billion, a gain of $20.5 billion
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News Corp.'s shareholders have lost $25 billion since Rupert Murdoch offered 14.6 times Dow Jones & Co.'s profit to buy the Wall Street Journal in 2007. Now, Murdoch is poised to spend as much as 17 times earnings for British Sky Broadcasting Group Plc. News
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Economists and central bankers are gathering in Paris to discuss global imbalances and inflation, amidst differing views on interest rates and monetary policies between the Federal Reserve and the European Central Bank. Ken Rogoff, a renowned economist and professor at Harvard University, shares his insights on the matter, highlighting the
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The fate of Apple's CEO position, currently occupied by the ailing Steve Jobs, is a pressing concern for investors. A shareholder proposal, set to be voted on at today's Apple shareholders' meeting, demands that the board disclose its plans for replacing Jobs and explains how
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Bloomberg News Anchor Matt Miller welcomed Hewlett-Packard CEO Leo Apotheker to discuss the company's latest forecast and tablet strategy. Apotheker acknowledged that the consumer side of the business was particularly weak, with the PC market showing soft sales across all regions. However, he noted that HP gained shares
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A recent report by web security firm Barracuda Networks Inc. reveals that hackers are increasingly targeting Google's competitors, including Microsoft's Bing, Yahoo, and Twitter, as the company's own security initiatives have led to a decline in malicious software affecting its users. As of December
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Jan Hatzius, Chief Economist at Goldman Sachs, shared his outlook on the economy and job creation during an interview on Bloomberg TV on February 15, 2011. Hatzius emphasized that despite the risks and challenges, the global economy and the US economy are expected to grow at a moderate pace. He
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Nokia, the world's biggest maker of mobile phones, is teaming up with Microsoft on its Windows 7 phone platform, a move that will challenge the dominance of Apple and Google in the smartphone market. The two companies announced a strategic partnership on February 11, 2011, aimed at creating
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In a panel discussion at the Council on Foreign Relations in New York, Ken Rogoff, former Chief Economist at the International Monetary Fund and Harvard University Professor, shared his expert insights on the complex issues of global currency wars, trade imbalances, and social instability. As the world grapples with the
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Android, the mobile operating system from Google, has increased its market share in the global tablet market, narrowing the lead of Apple's iPad. According to market researcher Strategy Analytics, Android devices captured 22% of global tablet shipments in the fourth quarter, up from 2.3% in the previous
