(CNN) – Just days after Facebook took the plunge with a multi-billion dollar shares sale in the U.S., another high-profile brand, Formula One, appears to have accelerated its own plans for a public listing in Singapore.
The Asian city-state is also one of the more unique stops on the 20-race Grand Prix calendar, as the race is staged at night under floodlights. FULL POST
Toyota says profits for the last year stalled due to a strong yen and the effects of the devastating earthquake and tsunami on its supply chain.
(Image credit: Getty Images)
(CNN) – Troubled Japanese electronics giant Sony says expected losses for the year ended March 31 will be more than double earlier forecasts.
(Image credit: AFP/Getty Images)
(CNN) – India will overtake China as the world’s biggest economy by 2050, a new report says.
This follows China’s rise to the top spot in 2020 at the expense of the United States, according to the 2012 Wealth Report by Knight Frank and Citi Private Bank.
The survey was published as India hosts the BRICS summit of emerging economies, which also includes China, Russia, Brazil and South Africa. FULL POST
HONG KONG (CNN) - Hong Kong has leapfrogged the United States and the United Kingdom to take top spot in the World Economic Forum’s 2011 index of financial market development - the first Asian financial center to do so.
According to the forum’s fourth annual Financial Development Report, Hong Kong’s position was bolstered by strong scores in non-banking financial services such as IPO activity - the first public sale of stock by a company - and insurance. FULL POST
(CNN) – The city of Freud, Klimt and the famed Spanish riding school is top of the pops when it comes to the world’s best cities to live in, according to a new survey.
For the third successive year, Vienna was ranked number one as European cities claimed more than half of the top 25 positions in Mercer's 2011 Quality of Living index, which awards points for a range of criteria, including political and economic stability, culture, health and sanitation, quality of schools, public services and housing. FULL POST
Bangkok (CNN) – After a month of devastating floods, Thailand faces the prospect of a dry spell it could do without.
From Bangkok to Phuket, bars and supermarkets are starting to report shortages of beer - such as local favourite Singha - as distributors struggle to get their product out.
Singha, which has many of its production facilities based in flood-hit central provinces such as Phathum Thani, was recently forced to close one brewery that was effectively surrounded by water. A company spokesperson told CNN production has been severely disrupted.
As the final day of the summer transfer market came to a frantic close late Wednesday, European football’s aristocracy again demonstrated its apparent immunity to the economic gloom affecting everyone else.
The continent’s wealthiest leagues, in England, Spain, Italy and Germany, spent almost $1.8 billion on acquiring new talent.
The English Premier League led the way, parting with $665 million. The most expensive deal being Sergio Aguero’s $62-million move to Manchester City from Atletico Madrid. FULL POST
As the great Davos conflab nears its end I can honestly say it’s been a fantastic experience - despite what a group of jaded journalists led me to believe on the train ride from Zurich.
While I've watched some impressive guests including Bill Clinton, Bill Gates and Jacob Zuma, it’s the more offbeat aspects of the week that stick most in my mind.
On entering the airport-style security checkpoint on my first day, I witnessed an engineer attempting to fit a set of TV flood lights into the X-ray scanner at the request of a stern-looking policeman. A CNN colleague later told me she was asked to send four freshly-baked pizzas through the same scanner as she returned on a lunch run.
Not really sure what kind of security risk hot chillies provide.
Once inside the fortified congress center I was ushered down to the basement where CNN's "work area" was located. The musty, green-colored room almost had me running back towards the glamorous ski resort I arrived at.
To make matters worse, the local fire brigade was called on my final day here to help stem the tide of waste water from the nearby toilet seeping into our bunker.
But that’s life in the field.
In between filing stories I decided I would also "tweet" during my time here. Perhaps it was the lack of oxygen in the bunker but I quickly became obsessed with what "celebrities" at Davos were tweeting.
It may be no surprise that Twitter's young co-founder was using his own service. But I was still interested to learn what preoccupied Evan Williams during a debate about the future of social media with fellow Silicon Valley bigwigs. Between questions he tweeted: "About to do my Davos panel in jeans and tennies. @unitedairlines says we might see our luggage tomorrow."
I thought the "geek chic" look was intentional.
In any event you’ll be glad to know Evan was reunited with his luggage the following day.
I also learned the glamorous Queen Rania of Jordan was diligently keeping her followers in the loop about her trip. "Scarf: check. Gloves: check. Warmest coat: check. Secret hand warmers: check. I’m ready for the World Economic Forum at Davos," she tweeted shortly after arriving.
Bill Gates was also a prolific tweeter… And so my obsession went on.
I'm not sure exactly how much rethinking, redesigning and rebuilding was done at Davos this year, but I would certainly endorse its value as a spectacle.
Davos, Switzerland (CNN) – As the serious business of rethinking, redesigning and rebuilding the world’s battered economy got started at Davos, I found myself wandering into a debate about how social media is changing the world.
Everyone that’s anyone in this rarefied world was there, including MySpace chief Owen Van Natta, LinkedIn founder Reid Hoffman and Twitter co-founder Evan Williams.
Facebook’s Mark Zuckerberg was represented by his sister, Randi.
It’s standing room only in the ridiculously small conference suite deep in the fortified congress center, such is the interest in what these new kings of Silicon Valley have to say.
The idea is that each panelist gives his or her view on the most interesting issues in social networking, from privacy to how it’s being used as a newsgathering tool. The discussion is also going out live on the Internet - at one stage Zuckerberg reveals almost 6,000 questions have been filed by Facebook users within minutes.
Williams, in his jeans and hooded top, seems to be tweeting between questions, while Hoffman comes out with one of the most provocative statements when he calls privacy an “old person’s” issue that young people aren’t interested in.
Tell that to the huge number of bloggers that complained when Facebook altered their privacy settings recently. Interestingly, Zuckerberg isn’t keen to discuss privacy as she hides behind her laptop.
Don Tapscott, a veteran tech writer, chimed in about Facebook profiles being open to scrutiny by potential employers. “Someone could miss out on that job due to content in their Facebook account that doesn’t necessarily represent their true character.”
An interesting point. Are you worried about where your personal information is going? Let us know below.
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CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.