Update 1: Global Crossing Plummets on Restructure
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Global Crossing Ltd. shares plummeted Monday after the once-bankrupt telecommunications company announced it will cut about 600 jobs and scale down operations to free enough cash to stay fiscally afloat.
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India and countries across the Middle East experienced slow Internet connections and disruption to international calls to the United States and Europe yesterday after two submarine cable systems in the Mediterranean Sea were cut.
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Shares of Global Crossing Ltd.  GLBCE.O fell as much as 25 percent on Monday on concerns it  could face a second bankruptcy after it said it is cutting 600  jobs as it negotiates with lenders for much-needed financing.
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Well, at least that one's out of the way. Happened pretty quick, too. Turns out the Americans can't play singles very well, either.
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The currency matching system of news and  information provider Reuters Group Plc  suffered a  temporary outage on Monday, forcing some traders to switch to  alternative venues or trade over the phone.
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According to the new UNCTAD report entitled &quot;World Investment Report 2004: shift toward services&quot; it turns out that 2003 was the third year in a row when a drop in global flows of FDI was recorded.
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In a new wave of global outsourcing, personal chores are moving offshore, and this is leading to some daunting challenges, both economic and cultural.
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Disappointments abound across business lines. Apparently, it is time for a change.
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BusinessWeek Online - Many people fear that the availability of cheap global labor in our increasingly integrated world economy -- or "globalization," -- is prompting companies to relocate production abroad. Yet a recent study by the European Commission (EC) suggests that high labor costs aren't so much the problem as the European Union's failure to cope with increased international competition and an accelerated speed of technological change.
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Telecommunications network vendor Global Crossing cut its workforce by 600 workers, or about 15% of its global employees, as it continues to right itself about a year after emerging from bankruptcy.
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&gt;lines 0,0,1000,993,1000 Computer Associates International announced a restructuring plan Wednesday that would reduce its global work force by 800 people, saving the software maker $70 million annually once the plan is implemented.
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Microsoft quest to have Open XML approved by the ISO as a global technology standard seems to have recovered from a setback it suffered last week.
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Forward to the (distributed) revolution Comment As the Web 2.0 bandwagon continues its rapidly accelerating path downhill towards the inevitable crash we find ourselves at another turning point in the development of the networked world.â¦
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Safend, an international provider of endpoint i
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Analysis Fragmentation and US indifference
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Something odd happened on the way to global recovery. The shoppers are not turning out the way they normally do when things start to look up.