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Microsoft entertainment head may leave to be Zynga CEO SAN FRANCISCO: Games publisher Zynga Inc could replace its chief executive Mark Pincus with Microsoft Corp executive Don Mattrick, possibly as early as late Monday, according to a report by AllThingsD that sent Zynga shares down more than 10 percent.Mattrick, who heads Microsoft's critical Xbox business as the company's president of interactive entertainment, could leave Microsoft to join Zynga, possibly as its CEO and is "working in close partnership with its founder and current CEO Mark Pincus," according to AllThingsD, citing multiple unnamed sources.Zynga and Microsoft declined to comment on the report.Pincus, 47, controls a 61 percent voting stake in the gaming company he founded in 2007, according to financial filings from March, and he would have final say over his company's leadership.Zynga's business model, which relied heavily on selling virtual goods to gamers on Facebook Inc's platform, began to disintegrate a year ago as users tired of Facebook games. ...

US factory activity, hiring slows in June: Markit NEW YORK: US manufacturing activity grew in June at its slowest pace in eight months as overseas demand dried up and firms took on the fewest new workers in more than three years, a survey showed on Monday.Financial data firm Markit said its final US Manufacturing Purchasing Managers Index stood at 51.9 in June, below 52.3 in May and a preliminary June estimate of 52.2. A reading above 50 indicates expansion in the sector.The output ...
U.S safety regulators close Ford, Hyundai auto defect probes DETROIT: US safety regulators closed an investigation into defective engine cables in more than 467,000 Ford Taurus and Mercury Sable cars after Ford Motor Co said it would fix the problem without issuing a recall.Damaged speed control cables on Taurus and Sable cars from the 2000 through 2003 model years with Duratec engines failed to enable the driver to brake properly, the US National Highway Traffic Safety Administration said in documents posted this week. The ...
Siemens sells its 50pc stake in NSN to Nokia BERLIN: Finnish telecommunications company Nokia on Monday said it had agreed to buy German engineering giant Siemens' 50 percent stake in their mobile broadband joint venture NSN for 1.7 billion euros ($2.2 billion).Once the deal was concluded in the third quarter of 2013, "Nokia Siemens Networks will become a wholly owned subsidiary of Nokia", both companies said in a statement.Siemens' decision to sell its stake comes as part of a strategic repositioning in the market: ...
India to launch satellite navigation system BANGALORE: India will Monday launch the first stage of its domestic satellite navigation network which will eventually provide services both to civilians and the military and is similar to the US Global Positioning System, officials said.The first of seven satellites will be carried into space as part of the Indian Regional Navigation Satellite System (IRNSS), just months after China inaugurated its own domestic satellite navigation system."The (Indian) system has been indigenously built to provide accurate ...
France to sell ADP stakes to Vinci, Credit Agricole PARIS: The French state and its FSI investment fund will sell 9.5 percent of Paris airport operator ADP to two investors, raising 738 million euros ($959 million), the finance ministry said on Sunday.A 4.8 percent stake in ADP will be sold to Credit Agricole Assurances and a further 4.7 percent to construction group Vinci, the ministry said in an emailed statement.The government announced on May 30 that the state and FSI aimed to raise about ...
Russian tycoon bids for control of Swiss steelmaker LUCERNE: Russian tycoon Viktor Vekselberg has launched a bid to control Swiss steelmaker Schmolz+Bickenbach after he failed to win support from shareholders to raise more capital and install his preferred candidate on the company's board.On Friday, Vekselberg's investment vehicle, Renova, agreed to pay a group of long-time shareholders about 58 million Swiss francs for a 20.46 percent stake in the Swiss firm. The group, Schmolz+Bickenbach GmbH & Co KG (S+B KG), descendents of the company's ...


Index Closing Chg%
Arrow DJIA 17,719.00 0.19
Arrow Nasdaq 4,701.87 0.56
Arrow S&P 2,052.75 0.20
Arrow FTSE 6,678.90 0.26
Arrow DAX 9,483.97 0.12
Arrow CAC-40 4,234.21 0.75
Arrow Nikkei 17,300.86 0.07
Arrow H.Seng 23,349.64 0.10
Arrow Sensex 28,067.56 0.12

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln