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/ 20 November 2007

Citigroup may have to write off $15bn

United States banking titan Citigroup may have to write off -billion in soured investments including mortgage losses in coming months, a report by Goldman Sachs predicted on Monday. Citigroup, the US’s second-largest bank by market worth, is already reeling from its exposure to the US housing downturn and tighter credit markets.

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/ 20 November 2007

Amazon launches own e-book reader

Amazon.com is hoping to invigorate a nascent market for electronic books by introducing its own e-book reader with free wireless connectivity. Monday’s long-anticipated announcement comes as e-books remain a sliver of overall book sales, partly because they lack the comfort and intimacy of bound paper.

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/ 20 November 2007

California sues 20 firms over toxic toys

California on Monday launched a lawsuit against 20 companies, accusing them of manufacturing or selling toys with illegal quantities of lead, a statement said. California attorney general Jerry Brown said the firms — including Mattel and Toys ”R” Us — are being sued for knowingly exposing children to potentially dangerous lead levels.

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/ 20 November 2007

Amnesty granted to almost 400 Zambian convicts

Zambian President Levy Mwanawasa has granted amnesty to almost 400 convicts in a bid to decongest his country’s disease-infested prisons, an official announced on Tuesday. Mwanawasa amnestied 14 prisoners who were on life sentences and 379 others who were serving various jail terms, a prisons official, Daniel Chiwela, said.