msnbc.com: World business

May 18th, 2012 09:48:16 BST
European leaders add to rising fears of breakup


European officials are playing a dangerous game of chicken with Greece.European officials are playing a dangerous game of chicken with Greece.





May 18th, 2012 09:48:16 BST
Rising wealth in China fails to buy more happiness


Sometimes more money just buys more unhappiness. Take China, for example.
Everyone assumed that people would get happier as their wallets got fatter. But a new study shows that the opposite occurred, at least for those at the lower end of the income spectrum.Sometimes more money just buys more unhappiness. Take China, for example. Everyone assumed that people would get happier as their wallets got fatter. But a new study shows that the opposite occurred, at least for those at the lower end of the income spectrum.





May 18th, 2012 09:48:16 BST
World Bank on Greece: Spain, Italy could be next
Spain and Italy will be the next victims of the European financial crisis if Greece crashes out of the euro currency zone, the head of the World Bank has warned.



May 18th, 2012 09:48:16 BST
The world braces for messy impact from Greece

As Greece teeters on the edge of financial collapse, European officials have a new task before them: preventing the financial turmoil from spreading around the rest of the world.As Greece teeters on the edge of financial collapse, European officials have a new task before them: preventing the financial turmoil from spreading around the rest of the world.





May 18th, 2012 09:48:16 BST
'Say your prayers': Bid to form Greek government fails
Attempts to form a Greek government collapsed Tuesday, worsening fears that leftists opposed to the terms of an EU bailout could win power and deepen the eurozone crisis.


May 18th, 2012 09:48:16 BST
Ex-Murdoch editor charged in phone-hacking scandal
Rebekah Brooks, a close confidante of Rupert Murdoch, was charged on Tuesday with interfering with a police investigation into a phone hacking scandal that has rocked the tycoon's empire and sent shockwaves through the British political establishment.



May 18th, 2012 09:48:16 BST
Facebook co-founder renounces U.S. citizenship

Eduardo Saverin, one of four co-founders of Facebook, has renounced his U.S. citizenship. The move may reduce his tax bill following the initial public offering that values the social-network powerhouse at as much as $96 billion.Eduardo Saverin, one of four co-founders of Facebook, has renounced his U.S. citizenship. The move may reduce his tax bill following the initial public offering that values the social-network powerhouse at as much as $96 billion.





May 18th, 2012 09:48:16 BST
Greece abandons quest to form new government
Greek politicians abandoned their quest to form a government on Saturday, leaving the president with one final opportunity to avert new elections that could drive the debt-choked country out of the European single currency.



May 18th, 2012 09:48:16 BST
H&M apologizes for using too-tan model in ads

H&M made a splash with its new bathing suits, but not in the way the Swedish clothing retailer intended. It is in hot water with the Swedish Cancer Society over its latest ad campaign. H&M made a splash with its new bathing suits, but not in the way the Swedish clothing retailer intended. It is in hot water with the Swedish Cancer Society over its latest ad campaign.





May 18th, 2012 09:48:16 BST
Greek turmoil deepens Europe's debt crisis
The deepening political turmoil in Greece has begun reverberating throughout the global financial markets as Athens’ failure to form a government threatens to further undermine the battered European economy.


May 18th, 2012 09:48:16 BST
$5.7B loss means Sony must become an innovator again
After posting a record annual loss and its worst fiscal year ever, Sony offered investors a light at the end of the tunnel, predicting a profitable 2013.


May 18th, 2012 09:48:16 BST
Sony posts record annual loss of $5.7B
Sony Corp. racked up its fourth straight year of red ink as the once-glorious maker of the Walkman and PlayStation struggles toward a turnaround.



May 18th, 2012 09:48:16 BST
'Crab' chips, fruity Oreos? They're big overseas

The Oreo is now the top-selling cookie in China, though its flavors would be unfamiliar to most Americans.Russians prefer their Lay's potato chips dusted in caviar and crab flavors. The Chinese like their Oreos stuffed with mango and orange cream. And in Spain, Kellogg's All-Bran cereal is served floating in hot coffee instead of cold milk.





May 18th, 2012 09:48:16 BST
Cuba's little capitalists are ready to rumba

Customers are entertained as they dine inside the newly licensed restaurant "El Bedouino" in Havana, April 1, 2012. The restaurant is an example of how life is changing in Cuba since President Raul Castro launched a string of limited economic reforms.When Ojacy Curbello and her husband opened a restaurant at their home in Havana in late December, not a single customer showed up.





May 18th, 2012 09:48:16 BST
California pension fund sues Wal-Mart leaders
The second largest U.S. public pension fund said that allegations of bribery in Mexico and a cover up by top management at Wal-Mart raises the question of whether top leadership should remain in place.


May 18th, 2012 09:48:16 BST
Conrad Black leaves prison, nabbed by immigration

Convicted newspaper mogul Conrad Black when arrived at the federal building in Chicago for sentencing in his racketeering and fraud trial in this  Dec. 10, 2007 file photo. Disgraced former press baron Conrad Black was released from a Florida prison on Friday after ending his sentence but he was immediately taken into custody by U.S. immigration officials.






May 18th, 2012 09:48:16 BST
Banking crisis over, Iceland's economy thaws

Fishermen prepare their boat for the start of the fishing season in May, in the Icelandic village of Grindavik, whose fishing industry has boomed since the collapse of the country's financial system, April 19, 2012. REUTERS/Ingolfur JuliussonIn this small Icelandic village, sailors are making double their pre-crisis pay, haddock sales to places like Boston and Brussels are booming and unemployment is almost zero - signs of this island's surprisingly rapid rise from the ashes of banking ruin.





May 18th, 2012 09:48:16 BST
Nations where everyone has a job
Earlier this month, polling agency Gallup released its 2011 global unemployment statistics for 148 countries. Of the nations Gallup surveyed, nine had unemployment rates below 5 percent. The majority are in Asia, with the remainder in central or eastern Europe. 24/7 Wall St.



May 18th, 2012 09:48:16 BST
Grand plan to save Europe is unraveling

Europe's two-year-old strategy of austerity isn't working. And there is no Plan B. Overall unemployment hit a 15-year high of 10.9% in March. Europe's two-year-old strategy of austerity isn't working. And there is no Plan B. Overall unemployment hit a 15-year high of 10.9% in March.





May 18th, 2012 09:48:16 BST
S&P boosts Greece's rating out of default status
Out of the fire, but still in the frying pan. Standard & Poor's raised Greece's credit rating to CCC from SD, aka, selective default, Wednesday.


May 18th, 2012 09:48:16 BST
British report gives Murdoch foes in U.S. new ammo
A stinging report by a British House of Commons committee concluding that Rupert Murdoch is “not fit” to run a major international company provides powerful new ammunition for shareholders suing  News Corp. in the United States and for big institutional investors demanding changes in the media giant’s management, analysts say.



May 18th, 2012 09:48:16 BST
Murdoch not 'fit' to run firm, UK lawmakers say
Rupert Murdoch is not "a fit person" to run a major international corporation, a committee of British lawmakers said Monday.


May 18th, 2012 09:48:16 BST
Big US companies adding jobs ... overseas
Robust overseas job growth at American multinational companies indirectly benefits workers here in the United States, although the impact would be magnified if these big businesses reinvested more of their overseas profits into the domestic economy.


May 18th, 2012 09:48:16 BST
Spanish economy in crisis after downgrade

A trader walks under a chart at a bourse in Madrid April 27, 2012.Spain's sickly economy faces a "crisis of huge proportions", a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor's weighed in with a two-notch downgrade of the government's debt.





May 18th, 2012 09:48:16 BST
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May 18th, 2012 09:48:16 BST
Wal-Mart could face stiff penalties in bribery case

For years, Wal-Mart has been synonymous with low-cost shopping for middle- and low-income earners. But now it could  become the poster child for how big multinationals should not do business abroad.For years, Wal-Mart has been synonymous with low-cost shopping for middle- and low-income earners. But now it could  become the poster child for how big multinationals should not do business abroad.





May 18th, 2012 09:48:16 BST
Rupert Murdoch grilled at UK phone-hack inquiry

Rupert Murdoch was questioned at a public inquiry Wednesday, denying charges that he used his British newspapers to influence politicians for the benefit of his business.Rupert Murdoch was questioned at a public inquiry Wednesday, denying charges that he used his British newspapers to influence politicians for the benefit of his business.





May 18th, 2012 09:48:16 BST
Helen Keller sunglasses create a stir

A Chinese fashion firm, Xiamen Jinzhi, has named a line of its sunglasses Helen Keller.  This is no marketing mistake, or lost in translation.A Chinese fashion firm, Xiamen Jinzhi, has named a line of its sunglasses Helen Keller.  This is no marketing mistake, or lost in translation.





May 18th, 2012 09:48:16 BST
Since you're no longer working here ... oh, wait
Workers at investment firm Aviva Investors got a shock on Friday when the company accidentally sent an email with leaving instructions intended for one departing employee to the entire worldwide staff of 1,300 people.