Business News Archive - May 02, 2009

Vienna has the highest all-round quality of life among the world's cities and Baghdad the lowest, a Canadian human resources consulting firm said Friday. Mercer, a subsidiary of Marsh & McLennon, ranked Singapore as having the best urban infrastructure. The company's annual Quality of Living Survey is aimed at helping international companies decide on overseas operations and assignments.

U.S. automaker Ford Motor Co. has taken over the No. 2 spot in U.S. vehicle sales market share, passing Toyota, figures show. While Detroit rivals General Motors Corp.

Citigroup's stress test shows it needs up to $10 billion in fresh capital, regulators contend, but the bank disputes the conclusions, financial sources say. Unnamed sources told Saturday's New York Times that a stress test performed on Citigroup by federal officials indicated the institution needs more capital, but bank officials are contending that recent measures plus future asset sales and stock conversions will be sufficient to satisfy the disputed amount. U.S.

Chrysler assembly plants in Canada have been shut down indefinitely because of the car company's U.S.

Russia will have high-speed passenger train service between St. Petersburg and Moscow by the end of the year, officials say. ITAR-TASS reported the train was expected to set a speed record by traveling nearly 171 miles per hour during test runs Saturday.

Word of the Day
  • The horn of a unicorn considered as a medical or pharmacological ingredient.
  • A winged horse with a single horn on its head; a winged unicorn.
The word 'alicorn' comes from Italian alicorno, already associated with unicorns and reinterpreted, popularized by Bearing an Hourglass (1984) and other fantasy novels by Piers Anthony.