Avis is leaping into the car-sharing service business by buying Zipcar for $491.2 million, aiming to capture a new type of customer and technology that will vastly expand its car rental options.Car sharing has become a popular alternative to traditional rentals in metropolitan areas and on college campuses, allowing members to get a vehicle for an hour or two for short trips instead of renting...
Microsoft acquires start-up id8: source
Labels: Business Microsoft Corp bought start-up id8 Group R2 Studios Inc as it looks to expand further in technology focused on the home and entertainment, a person familiar with the situation said on Wednesday.id8 Group R2 Studios was started in 2011 by Silicon Valley entrepreneur and investor Blake Krikorian. It recently launched a Google Android application to allow users to control home heating and lighting...
Boehner agrees to Sandy aid vote on Friday
Labels: BusinessWASHINGTON (AP) — Under intense pressure from angry Republicans, House Speaker John Boehner agreed Wednesday to a vote this week on aid for Superstorm Sandy recovery.The speaker will schedule a vote Friday for $9 billion for the national flood insurance program and another on Jan. 15 for a remaining $51 billion in the package, Republican Rep. Peter King of New York said after emerging from a meeting...
Ex-directors of Satyam win ruling in U.S. class-action suit
Labels: BusinessNEW YORK (Reuters) - A U.S. federal judge dismissed claims against seven former directors of Satyam Computer Services Ltd in shareholder lawsuits stemming from the massive fraud at the heart of India's largest corporate scandal.U.S. District Judge Barbara Jones in New York ruled on Wednesday the lawsuits failed to allege that the ex-directors recklessly failed to discover the fraud, which came to...
DoubleLine launches stock management division
Labels: BusinessNEW YORK (Reuters) - DoubleLine Capital LP, the $53 billion firm run by star bond investor Jeffrey Gundlach, said on Wednesday it is now managing stock portfolios in a new division called DoubleLine Equity LP.The firm, which surpassed $50 billion in bond assets last year after launching in 2009, said in a news release that it has tapped former TCW Group Inc portfolio managers Brendt Stallings and...
Jan
01
UN envoy: Without deal in Syria, think Somalia not Yugoslavia
Labels: Words• A daily summary of global reports on security issues.After a week of attempting to craft a peace plan that both President Bashar al-Assad and the Syrian opposition would agree to, the United Nations' envoy to Syria said the situation will not stabilize on its own and that a political deal is no closer.“People are talking about a divided Syria being split into a number of small states like Yugoslavia,”...
Obama's pivot to Asia? Middle East will still demand attention in 2013.
Labels: WordsNearly four years ago, President Barack Obama addressed a packed, enthusiastic crowd at Cairo University and promised a "new beginning" between the United States and the Muslim world.In that speech, Mr. Obama outlined a vision for a new era of economic cooperation in the Middle East, one of steadfast US support for democracy, and of reset priorities."I've come here to Cairo to seek a new beginning...
On cusp of new year, Chavez's health keeps Venezuleans fixated on future
Labels: WordsDec. 31 is typically a time to recap the biggest events of the year. But in Venezuela this year, news that President Hugo Chavez has suffered “new complications” after surgery on Dec. 11 has kept Venezuelans anxiously fixated on what’s to come in 2013.In downtown Caracas, an annual free concert in Plaza Bolivar to welcome the New Year has been canceled, government officials said. They instead called...
Egypt's opposition still hopeful, despite many defeats
Labels: WordsWhen a controversial constitutional draft went to a vote earlier this month, the Egyptian opposition was, as usual, in disarray.It waffled for weeks between boycotting the referendum and calling for a no vote. When it finally chose the latter only days before the first round of voting on Dec. 15, it was too late to overcome the Muslim Brotherhood and their salafist allies’ strong campaign for a "yes."But...
Happy new year, Cairo?
Labels: WordsI'm back in Cairo after well over a year away, and my first thought was that little has changed.Getting out of Cairo airport is still a chaotic mess of taxi and hotel touts, though easy to navigate if you know the drill. Traffic was worse than I'd have expected for midday on Saturday, but Cairo zahma hardly has a predictable rhythm anyway. Parts of the city are always one flat tire away from being...
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