New York Times to sell 16 regional newspapers

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Source: Reuters

New York Times announced it is going to sell 16 of its regional newspapers across the California and US Southeast to Halifax Media Holdings to reduce costs and concentrate on its most significant newspapers and their websites. The deal is valued at $143 million. Regional newspapers have been suffering from decline in national advertising and local retail, reflecting broader economic struggles. 

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Thu, 29 Dec 2011 09:34:07 GMT

China's SOEs' profits to achieve 900 billion yuan

China's SOEs' profits are expected to jump to about 900 billion yuan this year from 848.98 billion yuan in 2010. State enterprises saw stable growth in 2011 despite global economic challenges, said Huang Shuhe from Assets Supervision and Administration Commission. The companies enhanced innovation and corporate management this year that allowed them to raise profits by 3.6% on a yearly basis.

Thu, 29 Dec 2011 09:32:59 GMT

Gold falls on the higher USD appeal

Gold prices decreased as investors tend to increase the Dollar positions avoiding the yellow metal as they are worried about the spreading Euro Zone crisis. Gold futures for delivery in February traded at USD1,556.15 a troy ounce during the Asian morning traded, on the Comex division of the New York Mercantile Exchange, losing 0.51%.

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