CIBC profit rises on markets-related income

TORONTO (Reuters) - Canadian Imperial Bank of Commerce  reported a 13 percent increase in quarterly earnings, driven by higher income from its wholesale banking and wealth management businesses.CIBC, Canada's fifth-largest bank, said on Thursday that it had earned C$852 million ($858.05 million), or C$2.02 a share, in the fourth quarter ended on October 31, compared with C$757 million, or C$1.79...

Read More..

Sudan rules out devaluation despite black market gap

KHARTOUM (Reuters) - Sudan  plans to close the gap between official and black market exchange rates through higher earnings from resources like gold and oil instead of devaluing the pound again, a vice-president said on Wednesday.Sudan has been in economic crisis since South Sudan seceded last year, taking with it three-quarters of the once unified nation's oil output. This had been Sudan's main...

Read More..

BlackBerry’s all-out price war in the UK

The Curve 9320 is the last of the BlackBerry phones using the old operating system, and it is the cornerstone of RIM’s attempt to salvage its Christmas season. The UK is Research In Motion’s (RIMM) most important market in Europe. The latest Kantar World Panel numbers for August-October period showed BlackBerry’s share of the UK market crashing from 19% to 8% in a year, but RIM is now executing the...

Read More..

Nokia Siemens to close services unit: sources

FRANKFURT/HELSINKI (Reuters) - Nokia Siemens Networks' (NSN) services unit faces closure as an essential contract with Deutsche Telekom will not be extended, two people familiar with the matter said on Tuesday. One person said the closure, effective en 2013 would be announced on Wednesday during a workers' meeting in Kassel. NSN Services, which generates under 100 million euros ($130.7 million)...

Read More..

Digital rights groups blast Dutch computer plan

AMSTERDAM (AP) — Digital rights groups have called on the Dutch justice minister to retract a proposal that would give the country's police the right to break into computers, including foreign citizens' computers, to combat cybercrime. Minister Ivo Opstelten says investigators have the right to install Internet taps with court permission, citing the need to fight online pedophiles. That sometimes...

Read More..

Nokia Siemens cerrará su división de servicios: fuentes

FRANCFORT/HELSINKI (Reuters) - La división de servicios de la empresa de redes Nokia Siemens Networks (NSN) enfrenta su cierre debido a la cancelación de un contrato esencial con la empresa de telecomunicaciones alemana Deutsche Telekom, dijeron el martes dos fuentes con conocimiento del tema. Una persona dijo que el cierre, que se hará efectivo en el 2013, se anunciará el miércoles durante una reunión...

Read More..

Data: New (physical) book chronicles the virtual

NEW YORK (AP) — We question. We research. We catalog. We quantify. We aggregate, calculate, communicate, analyze, extrapolate and conclude. And eventually, if we're fortunate and thoughtful, we understand. These are the contours of the society that has taken shape in the past generation with the rise of an unstoppable, invisible force that changes human lives in ways from the microscopic to the gargantuan:...

Read More..