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Reader’s Digest plans prearranged U.S. bankruptcy

Reader’s Digest Association Inc, whose namesake magazine has been a staple of dentists’ offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent. The media company, known worldwide for its family magazine filled with general-interest and inspirational stories, ... Read More »

France and Germany officially out of Recession

The European countries France and Germany have declared that their economy has grown by 0.3%  taking into account from April to June, which makes them the first to exit recession. Experts on the other hand said that they had expected this growth from the European nations and is not surprise that they exit the recession. French Finance and Economy Minister ... Read More »

Yahoo and Microsoft sign Search deal

Yahoo and Microsoft have announced a long-rumoured internet search deal that will help the two companies take on chief rival Google. Microsoft’s Bing search engine will power the Yahoo website and Yahoo will in turn become the advertising sales team for Microsoft’s online offering. Yahoo has been struggling to make profits in recent years. But last year it rebuffed several ... Read More »

£100m boost for UK government lab

The UK research institute at the centre of the foot-and-mouth disease outbreak two years ago has been given £100m to build new laboratories. The head of the Institute for Animal Health (IAH) at Pirbright in Surrey, said that the state-of-the-art facilities are as safe as they can be. Research at the new laboratory will focus on controlling the spread of ... Read More »

Ford Posts $2 Billion Profit!

The recession hit automobile giant Ford is back on track. It has managed to post $2 Billion quaterly net profit. Ford Motors managed this purly from restructuring. Ford also said it was on track to at least break even in 2011. This made the investors happy! It shot Ford shares up more than 9%. Ford also posted an operating loss ... Read More »