Breaking News

June 6, 2009 Saturday

Updated

Straits Times Headlines

N-Day events to mark 50 years of self-rule

Fewer people taking taxis

Special Olympics off to a start

Inside

No-fault regime's no magic bullet

View Points

Brown staves off challenge, for now

Mortgage boss charged with toxic loans fraud

Show-stopping spectacular

Licensing for temp markets hard to swallow for some

How to save space and costs? Go for spiral staircases

Rio Tinto rejects Chinese tie-up

Sichuan city bus goes up in flames; 25 dead

PAS opening door to non-Muslims

A bitter fight to the end for PAS No. 2 post

It's not just about dollars and cents

Do you know a recession hero?

China Net czar has high praise for Singapore's global vision

Breaking News

Report in 4 weeks

'Dead man walking'

26 dead in China landslide

H1N1 flu watch

Flu patient took MRT

Melbourne 'flu capital'

Brown rejigs cabinet **

Rio decision 'not political'

SYDNEY - AUSTRALIA'S government on Saturday raced to reassure China that miner Rio Tinto's decision to walk away from a US$19.5 billion (S$29 billion) investment by Beijing was not a political move.

Rio Tinto announced on Friday it was pulling out of the deal that had sparked political and shareholder opposition and would instead raise capital from existing shareholders and forge a joint venture with arch rival BHP Billiton.

US job losses slow

WASHINGTON - THE pace of US job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.

The Labour Department said on Friday that US employers cut 345,000 jobs in May, the fewest since September and far less than economists had forecast. They cut 504,000 jobs in April.

Chrysler can exit bankruptcy

NEW YORK - A US appeals court on Friday cleared the way for Chrysler to exit bankruptcy under an alliance with Italy's Fiat, dismissing a challenge from Indiana's state pension funds.

A three-judge panel from Second Circuit Court of Appeals upheld without comment a decision by a bankruptcy judge approving the US government-backed plan to create a new entity to buy the assets of the troubled number three automaker.

Online ad revenue down

WASHINGTON - ONLINE advertising revenue fell five percent in the United States in the first quarter, the first year-on-year decline in seven years, according to figures released on Friday.

The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers said Internet advertising revenue fell to US$5.5 billion (S$12.7 billion) in the first three months of the year.

Dow edges up on jobs data