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As markets energize again, oil prices soar

World oil prices soared on Tuesday, mirroring the performance of global equities, as markets followed eurozone debt developments closely. Brent North Sea crude for delivery in November jumped $1.59 to $105.53 a barrel in London midday deals. New York’s main contract, West Texas Intermediate (WTI) for November, rallied $2.18 to…

BAE Systems to cut nearly 3,000 jobs

Arms manufacturer BAE Systems on Tuesday said it plans to axe almost 3,000 jobs in Britain, mainly at its military aircraft division, as governments slash their defence budgets. “Our customers are facing huge pressures on their defence budgets and affordability has become an increasing priority,” BAE Systems chief executive Ian…

Amazon expected to unveil tablet at mystery event

With nearly 30 million iPads sold, Apple is the undisputed tablet computer champion. BlackBerry maker Research In Motion, US computer giant Hewlett-Packard, South Korea’s Samsung and scores of other companies with devices powered by Google’s Android software have all taken swings at the iPad and missed. A contender may finally…

Goldman Sachs eyes major cuts: report

Goldman Sachs is mulling drastic spending cuts as it braces for what could be one of its worst quarterly reports since it went public more than a decade ago, the New York Times reported Tuesday. After Goldman set out this summer to cut costs by $1.2 billion by mid-2012, including…

World stocks surge on eurozone debt hopes

Global stocks rallied for a second day with a strong advance in Europe and Asia on Tuesday on signs that EU and world leaders are preparing a blockbuster response to the eurozone debt crisis. The euro steadied against the dollar as Greek Prime Minister George Papandreou headed for talks with…

Twitter opening international base in Ireland

Twitter, the San Francisco-based micro-blogging website, is to open an international office in Dublin, the Irish Industrial Development Agency announced — in a tweet. “Ireland is trending. Twitter to establish international office in Dublin,” the message said. Twitter joins a band of high-profile technology and computer multinationals with bases in…

Facebook forms political action committee

WASHINGTON — Facebook said Monday that it is forming a political action committee (PAC) for employees of the social network to make contributions to candidates. Most large US corporations have established PACs, which are allowed to donate $5,000 to a candidate per election and up to $15,000 annually to a…

USA Today Twitter feed hacked

The Twitter account of USA Today has been hacked in the latest cyberattack on a US media outlet by a group calling itself the “Script Kiddies.” USA Today, the flagship paper of Gannett, the largest US newspaper chain, issued on apology on Sunday after the hackers seized control of the…

Johns Hopkins scientists figure out how to ‘disarm’ AIDS virus

Scientists at Johns Hopkins University said recently that they have learned how to “disarm” the AIDS virus by eliminating the cells’ membranes, effectively stopping it from hijacking its victim’s immune system. Research results published last week in the medical journal Blood indicated the treatment method could lead to a vaccine…

Ex-BP boss quits Russian joint venture

Tony Hayward, the former head of BP who stepped down after the Gulf of Mexico oil spill catastrophe, is leaving his post on the board of its Russian joint venture TNK-BP, the company said Monday. Hayward, who came under huge criticism for his role in the clean-up of the oil…

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