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United Arab Emirates spends $1 billion on satellite system

ABU DHABI, United Arab Emirates (AP) — An official in the United Arab Emirates says the Gulf federation has reached a deal valued at just over $1 …

United Arab Emirates

Stocks open fractionally lower

Stocks closed mixed Monday as the Dow retreated from a record high but the Nasdaq managed to extend its winning streak to a ninth straight day. The S&P 500 was basically flat as oil prices fell back below $50 a barrel.<p>The Dow Jones industrial average fell 23.60 points, or 0.1%, to 18,116.84 a day …

HSBC boss hid bonuses in Swiss account

The boss of Britain's biggest bank has admitted to hiding past bonuses in a Swiss bank account.<p>HSBC (HSBC) said CEO Stuart Gulliver opened the account in 1998, when he was based in Hong Kong. His bonuses were paid into the HSBC Suisse account -- held in the name of a company registered in Panama …

The 'smart money' is investing in oil now

Like shoppers on Black Friday, Wall Street titans have a keen smell for deep discounts. At the moment, they're sniffing in oil fields.<p>Many parts of the U.S. stock market look expensive these days, but prices have fallen dramatically in the energy sector from over $100 a barrel in the summer to …

Investing

Marissa Mayer’s year-long shopping spree at Yahoo

For all the talk about her maternity leave and her views on telecommuting policies, Marissa Mayer's time as the CEO of Yahoo Inc. is now being defined by something else entirely – an acquisition frenzy.<p>This month marks Ms. Mayer's one-year anniversary as the latest head of Yahoo, a former …

Are low oil prices here to stay?

<b>Predicting the oil price is a bit of a mug's game.</b><p>There are simply too many variables involved to make any kind of meaningful, definitive forecast.<p>What we do know is that, despite a recent upturn, the price of oil has slumped almost 50% since last summer following the longest-running decline for 20 …