Alibaba may face challenges in buying Yahoo

Source: China.org.cn

Alibaba Group Holdings Ltd. may face difficulties in acquiring Yahoo Inc. after it hired a new CEO. Yahoo appointed Scott Thomson; the move indicates Yahoo's unwillingness to sell its assets in the nearest future, said Xie Wen. Thompson's prime objective is to focus on the core business, innovation and revenue growth.

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Fri, 06 Jan 2012 08:56:33 GMT

Oil declines in Asian session

Crude oil fell during the electronic trade, but remained above $101 a barrel as investors anticipate US employment report due today. On the New York Mercantile Exchange, crude oil futures for delivery in February declined by 24 cents to $101.57 a barrel at the Asian trade. The drop follows a 1.4% decline after data on the last week's increase in the US inventories issued

Fri, 06 Jan 2012 08:55:23 GMT

Accountants auditing JP Morgan fined £1.4m

PricewaterhouseCoopers was fined £1.4m by the AADB for audit of the JP Morgan bank. JP Morgan was fined £33.3m in 2010 as the company failed to protect money of the clients by adding them to its own. The PwC was fined for not spotting this practice conducted by the bank between 2002 and 2008.

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