Administrators for a Latvian lender that went bankrupt in 2011 are suing its former owner,Vladimir Antonov, in London over a loan to a member of the Russian parliament. Latvijas Krajbanka AS gave a $10 million loan to Denis Davitiashvili, a Liberal Democrat lawmaker at the time, in June 2008 that was contrary to the bank’s interests and was only made possible by his association with Antonov, according to a claim filed in London’s High Court of Justice in June and made public last week. The loan defaulted and the security was unenforceable or worthless, said the claim.
Updated 4 Years ago

The estimated economic losses from the earthquake in Napa Valley in northern California could top $1 billion- the “red alert” level, according to the United States Geological Survey (USGS). The 6.0 magnitude earthquake that struck the northern California coast Sunday morning left“extensive” and “widespread” damage, according to a report by the USGS. The results were automatically generated on Monday.
Updated 4 Years ago

Business confidence in Germany, which has led the EU economic revival over the last year, declined for a fourth month in August, which further clouded prospects of a broader recovery across the EU. Germany’s Ifo Business Climate Index in manufacturing, which looks at the confidence of the country’s 7,000 firms, fell to 106.3 in August from 108 in July.
Updated 4 Years ago

The news was reported by a paper run by the Ministry of Industry and Information Technology (MIIT). It follows a decision in May to ban the use of Windows 8 on many Chinese government computers.
Updated 4 Years ago

LG has announced plans to sell televisions that incorporate both 4K ultra-high definition resolutions and OLED panels. The firm said a curved 65in (165cm) set would go on sale in Europe, South Korea and North America in September.
Updated 4 Years ago

Microsoft's XBox Live, Blizzard's Battle.net, and Grinding Gear Games are among others to have reported being disrupted over the weekend. The attacks coincided with a bomb scare involving a flight carrying a Sony executive.
Updated 4 Years ago

The phone is only for sale on India's online shopping site, Snapdeal. The Intex Cloud FX runs on Mozilla's Firefox operating system and as such it will be the first low-cost device running that system available in Asia. India's emerging market is regarded as the world's fastest growing for low-cost smartphones.
Updated 4 Years ago

Earlier in the year, Google's YouTube had been reported to be in late-stage acquisition talks for a similar amount. Founded in 2011, Twitch - formerly known as Twitch.tv - allows users to watch other people play video games. As of July of this year, the service had over 55 million unique monthly viewers.
Updated 4 Years ago

The ceremonies have ended. The husband has already taken his wife home. And, whatever anybody says or feels, the process of increasing Nigeria’s population must have begun in the confine of the new couple’s home. However, the wedding of Katsina State Governor, Ibrahim Shehu Shema and Maryam Yar’Adua, who is a daughter of the late President Umaru Yar’Adua, penultimate Saturday at Usman Dan Fodio Mosque, continues to come up in national discourses. Pray, what is bad in a man marrying another wife when his religion permits as much as four so far he could take care of them? But, like the cliché goes, there is always another side to a coin. Shema already had wives before adding Maryam to his harem. Besides, there was no rumour of a romance between them before the sudden wedding.
Updated 4 Years ago

In 14 years of marriage and 18 years of acting, few things compare to the excitement of being a pathfinder. Even though famous Nollywood actress, Omoni Oboli, does not regard her having a foothold in The Presidency as a personal advantage, she would rather see it as a collective advancement for the industry she is so passionate about. With the recent screening of her directorial debut, ‘Being Mrs. Elliot’ in the Banquet Hall of The Presidential Villa in Abuja, Omoni scored an enviable feat for being able to have President Goodluck Jonathan and his top aides watch the movie. The idea of showing the movie at the State House was a random thought that became real. At the point they sent a letter to The Presidency, they were still doubtful that their request would be considered, but they went ahead, anyway. To their greatest surprise, the President approved the request.
Updated 4 Years ago