Business

Zimbabwean president Robert Mugabe and opposition leader Morgan Tsvangirai today signed a power sharing deal in the county's capital, Harare. Speaking to crowds of people celebrating the deal, Tsvangirai said that "this unity government will let businesses flourish so our people can work and provide for their families with pride." He also said that "I've signed this agreement because I believe it represents the best opportunity for us to build a peaceful and prosperous democratic Zimbabwe." Mugabe also spoke after the deal. "Let us be allies,

At least five bombs exploded in crowded markets and streets in the heart of India's capital New Delhi on Saturday killing 30 while injuring more than 100 people. The blasts at Ghaffar market in Karol Bagh, at Connaught Place and Greater Kailash took place in a quick succession. In an e-mail sent to a local television news channel, a group claiming to be the Indian Mujahideen, appeared to take responsibility for the explosions. "In the name of Allah, the Indian Mujahideen has struck back again. Do whatever you want. Stop us if you can," the e

American airline, Alaska Airlines have announced that they plan to cut 1000 jobs. They also plan to reduce their flight departures by 15%. The job losses will account for about 10% of their work force and affects pilots, cabin crew, technicians and service staff. The cuts are due to start on November 9 of this year and then lead into 2009. Bill Ayer, chairman and CEO of Alaska Air Group said, "The one-two punch of record oil prices and a softening economy, on top of increased competition, has burdened Alaska Air Group with a $50 million loss o

Lehman Brothers, a major American investment firm, is spending the weekend trying to find an investor that would save the firm from complete collapse. The company has lost 80 percent of its stock value since Monday, when it announced that it had not secured a deal with the Korea Development Bank, which was widely expected to occur. On Wednesday, Lehman published their biggest loss in the 158 years of their existence. According to the Financial Times, Bank of America is trying to create a joint takeover bid with JC Flowers and the China Invest

A series of clashes in the West Bank have left several injured, following an arsonist's targeting of the Israeli settlement of Yitzhar. An unknown Palestinian man began setting fire to several buildings in the village, when a 9-year old child saw him and started shouting. The man stabbed the child, causing only light injury, but sparking retribution from hundreds of Israeli villagers who attacked the Palestinian village of Assira Kubilyeh, smashing windows, shooting erractically and overturning a vehicle. The child was taken to an Israeli ho

The Bristol Organic Food Festival, which is Europe's largest festival for organic food, launched today in Bristol. Wikinews reported from the event. The event was opened at 11:00 local time (10:00 UTC) by Patrick Holden, director of the Soil Association, who said that the festival was " the benchmark for what I hope will be the future development of festivals all over the country." The event includes a large farmers market, music, and a variety of different features run by 212 organic food and drink related organisations from the region. Ot

The Dow Jones Industrial Average, a stock market index used to gauge the performance of American stock exchanges, fell 344.65 at the close of trading Thursday. The exact reason for the drop is unknown, with different news agencies pointing to different causes. The New York Times cites a rise in unemployment numbers released Thursday by the U.S. Department of Labor and a fall in retail sales released by several large corporations. According to the Associated Press, the number of people claiming weekly unemployment benefits rose 15,000 last wee

Illinois Governor Rod Blagojevich’s office announced layoffs of up to 450 state employees and the closure of 25 historic sites and state parks. Fourteen state historic sites are scheduled to be closed October 1. Eleven state parks are slated for closure November 1. A spokesperson for the governor stated that the office had no choice but to make the budget cuts because of a faltering economy and an unbalanced state budget. Included in the cuts were the Illinois Department of Natural Resources (IDNR), which operates the state parks, the Departm

After dropping 1.9% in July, house prices in the United Kingdom are now falling at the fastest rate since 1990, according to Nationwide Building Society. The average price of a home has dropped by £20,000 down to £164,654, losing 10.5% of its value in 2008. Property values fell by 1.9% in the past month, and 1.5% in July. In another study, it was revealed that house prices have been steadily falling since October last year. Nationwide's chief economist, Fionnuala Earley said that activities in the housing market had recently been "very subdue

According to a new study released by the World Bank, more people than thought are considered to be poor in the developing world but the percentage of people in extreme poverty have decreased. The study finds that as of 2005, there are 1.4 billion people who are living for less than US$1.25 per day. This is down from 1.9 billion in 1981, which equals half of the population in the developing world. However, the new numbers have vastly increased from previous estimates. According to last estimate based on data from 1994, it was believed that there

Former American National Basketball Association (NBA) basketball star Kevin Duckworth has died at age 44. The former Portland Trail Blazers center died on Monday of an apparent heart attack in his hotel room at Gleneden Beach, Oregon. He was in town for part of a free childrens basketball clinic being run by the Trail Blazers. His death was confirmed by the Lincoln County Sheriff's Office. Duckworth commenced his career with the San Antonio Spurs when he was selected in the second round of the 1986 NBA Draft. He was traded after one season for

AGB International, a company based in Capalaba, near Brisbane, Queensland, Australia, has recalled 13 brands of garlic bread after learning that the bread turns blue when heated. AGB International is unsure why the bread turns blue but thinks that the problem is isolated and may be caused by a batch of garlic which the company no longer uses. AGB supplies garlic bread to the pizza chains Pizza Hut and Domino's Pizza, and major supermarket chains including Woolworths, Coles and Franklins. Consumers who last week bought garlic bread of the br