RIM Puts New BlackBerry Launch on Hold as Sales Crumble

The pioneer of the mobile email, RIM is passing through a difficult period as it has postponed the make-or-break launch of its next-generation BlackBerry phones until next year. It shares slumped 14 percent at $7.86.

RIM Puts New Blackberry Launch

With sales crashing, Research in Motion Ltd (NASDAQ: RIMM) has put on hold the make-or-break launch of its next-generation BlackBerry phones until next year. The once-dominant technology company is passing through a difficult period with a steeper-than-expected quarterly operating loss and deep job cuts.

As a result, the shares of the company plunged 14 percent at $7.86 in after-hours Nasdaq trading, after it announced the delay in release of its revamped BlackBerry 10 devices to early 2013.

Blackberry Launches

 The release of the devices was considered to be the last best hope of fighting the competition from Apple’s iPhone and other phones that use Google Inc's  (NASDAQ: GOOG) Android software. Analysts and investors felt that their worst fears were confirmed by the delay in releasing these devices.

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Spice Girls To Auction Their Iconic Costumes

The members of British pop girl group, famous as Spice girls  are set to auction some of their iconic costumes as an aid of two children’s charities.

Victoria Beckhem, also called as posh spice among her group said that she is keeping some for her daughter which she can have  when she grows but rest she  wants to put for charity.

The ‘Wannabe’ hitmakers are hoping to sell these outfits in aid of’ Save the Children and Children in Need’ at a gala event later this year.

Fans will be able to pick up garments such as Emma Bunton’s babydoll dresses, Mel C’s tracksuits and Mel B’s leopard-print catsuits. However, Geri Halliwell’s iconic Union Jack dress will not be a part of the auction as it is currently displayed at Las Vegas’ Hard Rock Cafe. ( financeenquiry.com )

Geri shared that one item Victoria will happily want to part away with is  group’s infamous wedge trainers as she hates them and doesn’t want to wear them.

AMR Pilots to Vote for Ratification of Final Contract Offer

The final concessionary contract offer of the management of American Airlines will be put up for a membership ratification vote by the pilots union. It will thus avert at least for now, a possible ruling by a bankruptcy judge that would have allowed the management to abrogate the current contract and impose terms on the 10,000 pilots.

The pilots union of American Airlines agreed Wednesday to put the final concessionary contract offer of the management to a membership ratification vote. By doing so, it has averted at least for now, a possible ruling by a bankruptcy judge that would have allowed the management to abrogate the current contract and impose terms on the 10,000 pilots.

The company said in a statement that it was pleased by this decision since the agreement will meet the needs of its pilots along with ensuring the goals of its business plans. It reiterated its commitment to reach consensual agreements with all its unions.
 

The union said that its board had voted 9-7 to put the offer out for a vote after having rejected the deal last week.

The bankruptcy judge had earlier informed the company and the three big unions that he would delay his ruling on abrogating the present contracts so that the pilots are able to vote on the ratification, till Aug 8. The decision will give more time to AMR to try to come to terms with the other two unions in an effort to effectively make the savings that it needs to restructure successfully. 

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John Barrowman And Shobna Gulati Win Rear of the Year Title

TV star John Barrowman won the title of Rear of the Year while Shobna Gulati, who plays Corrie’s Sunita Alahan in Coronation Street won this year's female title.

 Well, we can say 'Bottoms-Up' to that. Scottish–American TV actor and musical star John Barrowman has won Rear of the Year title  in a public poll conducted by Wizard Jeans.

While Shobna Gulati, the British actress of Indian origin, best known for playing Sunita Alahan in the long-running soap opera Coronation Street, received the award in female category.

Barrowman, famous for his role as Captain Jack Harkness in 'Torchwood', and Gulati, also known for playing Anita in Victoria Wood's 'Dinnerladies', were deemed to have the best posterior in showbiz.

Both actors were thrilled to bits by the award and Gulati specially thanked her mother for her prized asset.

For more Details Visit Here:  John Barrowman And Shobna Gulati

Liberty Media Wins USD950M Lawsuit Against Vivendi

Liberty Media Corp won a $950 million jury verdict Monday against French media company Vivendi Universal S.A. in a lawsuit stemming from a 2002 sale of USA Networks.

 John C. Malone controlled American media conglomerate, Liberty Media Corporation (NASDAQ: LMCA), has won a 765 euros ( $950 million) US federal court jury  verdict against French multinational mass media and telecommunication company, Vivendi SA.

The verdict draws curtain on the dispute that has been going on since 2002 and relates to sale of USA Network by Liberty to Vivendi. Liberty, which then owned about 20 percent of USA Networks sold it to Vivendi for return of Vivendi shares. 

 Vivendi stocks collapsed soon after and Liberty had to endure heavy financial losses. The lawsuit filed by Liberty in 2003 alleged that Vivendi kept it in dark about its precarious financial conditions. Read More.......

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Facebook announced Monday that its chief operating officer Sheryl Sandberg has joined the company's eight-member board of directors.

The move may  tone down some  criticism about Facebook, which has often found itself in line of fire for stifling diversity.

Sandberg joined Facebook in 2008 and has been one of its most powerful executives. Prior to Facebook, Sandberg was Vice President of Global Online Sales and Operations at Google (NASDAQ: GOOG). She also was involved in launching Google's philanthropic arm Google.org. Read More........

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Elvis Presley Crypt Pulled Out From Auction

Auctioneers had to backtrack on the proposed sale of the tomb in which “King of Rock and Roll" Elvis Presley was first buried, following strong objections from fans as they want it to be kept as a shrine.

Julien's Auctions, the Los Angeles-based auction house, said it will refrain from selling the crypt (empty since 1977) unless Forest Hill Cemetery in Memphis, Tennessee “finds a plan that best suits the interests of the fans while respecting and preserving the memory of Elvis".

Presley was buried at the Forest Hill Cemetery beside  his mother after his death in 1977. Two months after the burial, his body was taken out and reburied at his Graceland home.

The sale was scheduled to take place on Sunday where the opening bid for the empty crypt was kept at $100,000 (£64,000). Read More .......

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Bed Bath (BBBY) Forecasts Lower Quarterly Profit over Rising Costs

After Bed Bath & Beyond forecast a weaker-than-expected profit for the current year as it has to hasten its spending to improve its e-commerce business, its shares plunged 11 percent.

 

 The shares of the US home goods chain, Bed Bath & Beyond Inc (NASDAQ: BBBY), plunged 11 percent after it forecast a weaker-than-expected profit for the current year as it has to hasten its spending to improve its e-commerce business, in order to meet the challenge of incentives for shoppers for buying home goods online being rolled out by Amazon.com (NASDAQ: AMZN). 

Amazon launched home furnishings website Casa.com in February, which is being viewed by some analysts as a potential competitive threat to Bed Bath. Already Bed Bath reported decline in gross margin in the recently concluded fiscal first quarter as well as the fourth quarter of last year, which indicates that Amazon is tearing through its home furnishings business. Moreover, due to the financial crunch, more customers are going in for cheaper products. Read More.......

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Angelina Jolie Donates USD1,00000 To Help Syrian Refugees On World Refugee Day

Actress Angelina Jolie raises a brood of six children with fiance Brad Pitt, but it seems that the 'The Tomb Rider' star maternal duties has not diluted her focus on pressing world issues. 

 

The Academy award winning actress, who is known to promote humanitarian causes and is a special envoy for the United Nations High Commissioner for Refugees (UNHCR), donated $100,000 on Wednesday to aid Syrian refugees. 20th of June is marked as World Refugee Day.  Read More.......

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Jobs Data, European Crisis Push Treasury Yields to Record Lows

The US Treasury 10-year and 30-year yields dropped to all-time lows as fewer jobs were added by the economy in May than the forecast of economists and because of escalating concerns about the continuing European sovereign-debt crisis that may spread.

The Labor Department’s report about the US employment being the least in a year led to the drop of US 10-year note yields below 1.5 percent for the first time, representing the biggest weekly drop in eight months. It seems more likely now that the Federal Reserve will initiate a stimulus to boost the economy as the Federal Reserve Chairman Ben S. Bernanke is preparing to testify before Congress on June 7 about the outlook for the US Economy.

Read more..............