FRANKFURT/BRUSSELS (Reuters) – Magna will cut about 10,500 Opel jobs in Europe, the bulk in Germany, as it acts to return the carmaker to profit and pay back 4.5 billion euros ($6.55 billion) in state aid, its co-chief executive said. The Canadian auto parts supplier aims to sign a deal with former Opel parent General Motors within two weeks to buy a 55 percent stake together with Russian partner Sberbank, Siegfried Wolf said on Monday. “By 2015 we want to pay back the government-guaranteed loans. Opel will be profitable before that, however,” Wolf told a news conference. Around 4,000…

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The global financial crisis might have created an upheaval in the local stock markets, but domestic insurance companies gained a whopping Rs 40,942 crore in the bourses during the one-year period between August 21, 2008 and August 21 this year. During the period, the market capitalisation of bank stocks held by insurance companies increased 103.2% to Rs 43,097 crore on August 21, 2009, from Rs 21,212 crore recorded in the year-ago period. Life Insurance Corporation (LIC) had the highest holding of 81.2% among the 17 insurance companies. It was followed by ICICI (ICICIBANK.NS : 824.6 0) Prudential Life Insurance Co…

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NEW YORK: A federal judge on Monday rejected Bank of America Corp’s and the US Securities and Exchange Commission’s $33 million settlement over Top 20 Global Financial Brands 200919 Indian banks/financial institutions in Top 500 Global Financial Brands 2009 Merrill Lynch & Co bonuses as a contrivance that deprives shareholders of the truth. In rejecting the settlement for a third time, saying it “cannot remotely be called fair,” US District Judge Jed Rakoff ordered the SEC and the largest US bank to prepare for a trial by next February 1. He said he had a “distinct impression” that the…

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NEW YORK (Reuters) – General investment theory holds that investors should diversify, buying one asset class on expectations of profit as they avoid others on fears of a loss for any given set of economic circumstances. But with gold at 18-month highs, U.S. stocks rising off recessionary lows and a rally in U.S. bonds sending yields on some debt to the lowest since July, the investment climate is anything but typical. The worst global economic contraction in decades prompted low interest rates around the world and central banks, including the U.S. Federal Reserve, to take the extraordinary precaution of…

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While simple display advertisements may not be the best form of ads, more interactive versions have emerged over the years that attempt to provide a more engaging experience for the consumer. Spongecell is the latest company to try to increase the level of engagement by providing display ads which include the ability to become a fan of the advertiser’s Facebook Page.

The result is that brand advertisers can obtain a residual benefit from running these new forms of advertisements. Over the past month I’ve been discussing the best strategies for building out a company’s Facebook Page and why it’s so…

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The Linux4nano project has been working to port the Linux kernel onto the iPod Nano along with other iPods in general. Although the iPodLinux project has had luck with some older iPods, newer models protect firmware updates with encryption. One of the ways they plan on running code on the device is through a vulnerability in the notes program; it causes the processor to jump to a specific instruction and execute arbitrary code. To take advantage of this, they first need to figure out where their injected code ends up in the memory. Currently, they are testing every memory…

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Tagged.com claimed to be third largest Social networking with over 80 million registered members, but New York Attorney General Andrew Cuomo says most of them were acquired through fraudulent activities. Cuomo intends to sue the company for deceptive marketing and invasions of privacy.
Tagged.com illegally tried to get new members by tricking visitors into providing their personal address books, which the company used to send more invitations. Tagged disguised these e-mail messages to make it appear as though a friend was inviting them to view personal photos.

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Literature is the soul of the wit. The best source of literaturecan be now found in blogs. The growing trend of blogmania isslowly sweeping the netizens. Every person aspires to have ablog as a platform to publish his thoughts and be heard and read.General surveys undertaken on blogs and bloggers shows a risingtrend in blogging. A parallel platform for literary endeavor,the blogs are overthrowing the traditional journalistic norms.Publishing of news and views no longer remains the privilege ofan elite minority. Anybody and everybody is free to get in touchand explore the writer within himself. The anamorphic nature ofthe human soul…

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