The largest sovereign wealth fund in the world feels that the worldwide economy still faces “considerable uncertainty” this year as the world is still trying to recover from recession. The Abu Dhabi Investment Authority, which has assets believed to be between $500 billion and $700 billion, said...

Nortel Netwroks Corp. on Friday declared a straggering 62 percent decrease in revenue during the last quarter of 2009 amid a still unstable economy and the company’s bankruptcy proceedings. The company revenue dropped from $2.1 billion in the fourth quarter of 2008 to $2.1 billion during the same period...

Despite tough times, Americans still find a way to buy wine although records show that industry sales went down in 2009 compared to the previous year. Wine exports in the U.S. dropped by almost 15 percent last year. The wine industry saw the biggest loss of 21 percent with its shipments to the European...

Coca-Cola FEMSA is planning to change its bylaws so that the compensation for its CEO and the people working directly under him can be decided on by a simple majority of the board, drinks company Fomento Economico Mexicano SAB said Wednesday. Coca-Cola FEMS is the largest bottler of Coca-Cola drinks...

A new set of rules will be put in place in July 1 by the Federal Reserve that will restrict banks from charging their customers overdraft fees or similar fees without getting permission first. Bank of America, however, offered a rather different twist for its depositors to abide the new rules: If there...

The US Treasury Department decided to ease sanction on Cuba, Iran and Sudan to allow their citizens to access online services such as email, social networking and instant messaging. The department lifted a ban on exports of software and Internet services so that Cuban, Iranian and Sudanese people can...

French President Nicolas Sarkozy has said that Europe must unite to help Greece and that EU members should try to calm speculations amid a weakening euro. Greek Prime Minister George Papandreou thanked Sarkozy in its drive to help Greece in an effort to appease its 12.7 percent budget deficit. Sarkozy,...

The Icelandic people voted an overwhelmingly “No” to their country’s deal with Britain and the Netherlands to repay its debts. A new resolution has been proposed recently to Iceland by the other two European countries that improved the repayment terms compared to the one that has just been voted...

Starbucks Corp. was the center of the issue recently after allowing customers with guns inside their shops in a state where such action is legal. The coffee chain said that it is only abiding the state laws and does not want to be a part of the debate in gun control. The company’s statement, which...

The Bank of England is expected to keep interest rates at a record low of 0.5 percent and take no further action on purchasing assets to boost the money supply when it announces its monthly monetary policy decision later Thursday. Economists anticipate the “wait and see” stance after a month...