latest world business news

Employment probably shifted into a higher rate in January to post a fourth straight month of gains , offering more evidence of a broadening economic recovery in United States of America (USA), though the jobless rate likely rose. The government is expected to report on Friday that nonfarm payrolls grew 145,000 , according to a Reuters survey, after adding 103,000 in December. But severe snow storms that slammed large parts of the nation could result in a much lower figure. All of the anticipated job gains are expected to have been generated by the private sector and would add to other data suggesting that the manufacturing-driven recovery is now spreading to other sectors of the economy. The Labor Department will release its closely watched employment report at 8:30 a.m. ET. " All the signals are pointing to a much improved labor market compared with last year and a strong payrolls report would be a nice confirmation that things are certainly headed in the right directi

The whistle blowing and anti-secrecy website WikiLeaks has been nominated for the 2011 Nobel Peace Prize, the Norwegian politician behind the proposal said on Wednesday, a day after the deadline for nominations expired. The Norwegian Nobel Committee accepts nominations for what many consider as the world's top accolade until February 1, although the five panel members have until the end of the month to make their own proposals. Norwegian parliamentarian Snorre Valen said WikiLeaks was "one of the most important contributors to freedom of speech and transparency" in the 21st century. "By disclosing information about corruption, human rights abuses and war crimes, WikiLeaks is a natural contender for the Nobel Peace Prize," Valen said. Members of all national parliaments, professors of law or political science and previous winners are among those allowed to make nominations. The committee declined to comment on the WikiLeaks proposal or any other nominations.

Yemeni President Ali Abdullah Saleh has said he will not seek to extend his presidency when his current term expires in 2013. Mr Saleh, who has been in power for three decades, also pledged that he would not pass on power to his son. He spoke to parliament ahead of a rally in the capital on Thursday which, echoing protests in Tunisia and Egypt, has been dubbed a "day of rage". Mr Saleh came to power as president of North Yemen in 1978. When the country was united with South Yemen in 1990 he became president of the new republic. Speaking during an emergency session of the country's parliament and the consultative council on Wednesday, Mr Saleh laid out his plans to move aside. "No extension, no inheritance, no resetting the clock," he said. "I present these concessions in the interests of the country. The interests of the country come before our personal interests." He also called on the opposition to "freeze all planned protests, rallies

Clashes have erupted in the Egyptian capital between supporters of President Hosni Mubarak and demonstrators calling on him to step down immediately. Rival groups of protesters are fighting pitched battles in and around Cairo's Tahrir Square. Many people have been wounded and shots have been heard. Earlier, the army urged people to return home after nine days of anti-government demonstrations. Mr Mubarak has pledged he will not stand for re-election in September. On Tuesday, hundreds of thousands had protested across the country against Mr Mubarak, the culmination of more than a week of demonstrations that have left about 300 people dead according to UN estimates.

A thick stench fills the air, there is no proper sewage system in the South African township of Themba Khoza - heavy floods have destroyed all the make-shift drains and bacteria infected water is flowing through the tiny pathways between the shacks. Eight of the country's nine provinces have been declared disaster areas after floods killed more than 120 people. Residents of the informal settlement north of Johannesburg are bracing themselves for more floods. The settlement is home to more than 2,000 people - many of the houses here are built near a river, the Kaalfontein. The river burst its banks last week, flooding many shacks in the process. Tharafosa Molapo, 92, is hard at work, trying to build a sand barrier around his home. The old man is frail but he says he needs to do this to prevent further damage to the home he shares with his wife. "We cannot sleep when it is rains, because we need to remove the water from our houses," he says. "I have been up f

Most of its residents left, the school closed, the city government was disbanded and starting this week nearly every commercial building in Picher, Oklahoma, will be demolished. But the owner of the last-remaining open business in Picher, which has been vacated over the years because of lead contamination, is not ready to go. "It's not time for me to leave yet," said Gary Linderman, owner of Old Miner's Pharmacy in what is left of central Picher, located in the northeast corner of the state. "I have an obligation to people. We are all creatures of habit and closing might throw them off." In addition to providing prescriptions, the pharmacy is the only place left in town to buy snack food, beverages, over-the-counter medicine and other necessities. Linderman declined a buyout from the federal government, which declared Picher a hazardous waste site in 1981 and has bought out about 900 homeowners and businesses. Crews demolished a funeral home, restaurant

Egypt riot hits the world's political and social thinking specially. Whether the controlled democracy will continue in the Middle East and Africa in the future. The riot began on January 25, 2011 which is the massive blow against the regime of President Hosni Mubarak in his 30 years of ruling of the country Egypt.