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Posted: January 26th, 2012, 12:02am EST
Britain's debt mountain has risen to one trillion pounds (over $1.5 trillion) for the first time, The Sun reported Wednesday.
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Posted: January 25th, 2012, 3:50am EST
Yahoo Inc has posted 5 per cent drop in net income to USD 296 million in the October-December quarter of 2011 due to decline in advertising revenues.
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Posted: January 25th, 2012, 2:00am EST
There might be a moderate economic recession across Europe in the first half of 2012, a senior European Union (EU) official said.
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Posted: January 24th, 2012, 11:18pm EST
Japan reported its first annual trade deficit since 1980 as it imported expensive energy to offset shortfalls caused by the devastating tsunami and manufacturers shifted production overseas to avoid the damage inflicted by the strong yen.
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Posted: January 24th, 2012, 7:35pm EST
The International Labour Organisation said that German economic policy in the past two decades had harmed other European countries and contributed to the current eurozone debt crisis.
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Posted: January 24th, 2012, 10:48am EST
The IMF chopped its 2012 forecast for global growth to 3.3% from 4% just three months ago, saying the outlook had deteriorated in most regions.
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Posted: January 24th, 2012, 3:17am EST
The company said higher research and investment costs also reduced profit, as did delays in deliverying new high-speed trains to German rail operator Deutsche Bahn AG.
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Posted: January 24th, 2012, 1:56am EST
Industrial equipment maker Siemens AG says net profit fell 17% to £1.457 billion ($1.89 billion) as project delays held down profits and the uncertain global economy cut into order volume.
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Posted: January 23rd, 2012, 11:36pm EST
Japan's central bank said Tuesday it expects the economy to shrink slightly during the fiscal year ending in March instead of expanding as it forecast earlier because of the overseas slowdown.
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Posted: January 23rd, 2012, 10:07pm EST
The euro eased against major currencies in Asian trade on Tuesday as investors monitored events in Europe, dealers said.
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Posted: January 23rd, 2012, 10:03pm EST
Australia's consumer watchdog has launched court action against AirAsia Bhd alleging the budget airline's advertising of its fares for some routes out of Australia was misleading.
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Posted: January 23rd, 2012, 8:54pm EST
Boeing Co won a $693 million contract modification to build five more C-17 transport planes for the U.S. Air Force, the Pentagon said on Monday.
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Posted: January 23rd, 2012, 1:57am EST
The Australian arm of Japanese auto giant Toyota announced on Monday that it would sack 350 workers at its southern carmaking plant, citing "unprecedented" pressure on its operations.
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Posted: January 23rd, 2012, 12:13am EST
The world economy will lose momentum in 2012 but it will keep moving in the right direction, according to Reuters polls of around 600 economists who said crisis-hit Europe would drag on global growth.
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Posted: January 22nd, 2012, 11:28pm EST
Japanese high-tech giant Hitachi said Monday it will stop making televisions by the end of September as intense price competition hurts TV earnings at many electronics manufacturers worldwide.
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Posted: January 22nd, 2012, 11:03pm EST
Taiwan technology giant Foxconn has apologised over comments by chief Terry Gou allegedly comparing workers to animals, a report said Monday.
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Posted: January 22nd, 2012, 10:05pm EST
Oil prices were lower in Asian trade on Monday amid renewed concerns over Europe's ability to deal with its towering debt crisis, analysts said.
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Posted: January 22nd, 2012, 10:02pm EST
Asian stocks posted muted gains Monday in trade thinned by Chinese New Year holidays as talks on a debt agreement for Greece dragged on.
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Posted: January 22nd, 2012, 6:29pm EST
Growing greenback
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Posted: January 22nd, 2012, 11:58am EST
The greenback, thought to be on life support and mostly surviving on safe-haven flows, hit bottom three years ago and is now in a long-term recovery.
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Posted: January 21st, 2012, 12:21pm EST
China will again top the economic growth charts this year but India's economy will not be far behind, expanding 7 per cent in the 2012 fiscal year.
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Posted: January 20th, 2012, 12:33pm EST
Eastman Kodak Co. has obtained a bankruptcy judge's approval to borrow an initial $650 million from Citigroup Inc. to keep operations running while it peddles a trove of digital-imaging patents.
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Posted: January 20th, 2012, 5:23am EST
Software major Microsoft Corp has reported a negligible decline in net income to USD 6.62 billion for the October-December quarter of 2011, even though demand for software and services remained high.
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Posted: January 19th, 2012, 7:17pm EST
Eastman Kodak, the photography icon that invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for one of America’s best-known companies.
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Posted: January 19th, 2012, 4:19pm EST
Microsoft reported a $6.62 billion net profit on Thursday for the second quarter of its fiscal year and quarterly revenue of $20.89 billion.
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Posted: January 19th, 2012, 1:29pm EST
General Motors sold just over 9 million cars and trucks worldwide last year to reclaim the title of the world's top-selling automaker.
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Posted: January 19th, 2012, 3:25am EST
An Indian is among seven persons charged by US authorities of running a "criminal club" which made USD 62 million in illegal profits by trading in the shares of computer company Dell.
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Posted: January 18th, 2012, 10:45pm EST
Asian stock markets rose as investors grew more comfortable with risk assets after strong US housing figures helped Wall Street to its highest close since July.
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Posted: January 18th, 2012, 10:12am EST
The International Monetary Fund is estimating it needs to raise up to $600 billion in new resources to lend to countries struggling with the fallout from the growing euro zone debt crisis, IMF sources said.
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Posted: January 18th, 2012, 5:03am EST
Heavyweights may disagree with the idea of airlines charging "fat tax", but a survey says a significant number of air travellers agree that obese people should pay more to fly.
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Posted: January 18th, 2012, 3:27am EST
Oil advanced above $101 a barrel Wednesday in Asia, buoyed by positive economic data from the world's top two crude consumers, China and the US.
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Posted: January 18th, 2012, 2:34am EST
Swedish Automobile (Swan), owner of ailing Swedish car-maker Saab, on Wednesday said several board members had quit because of disagreements over funding.
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Posted: January 17th, 2012, 8:45am EST
A Chinese company that produced a doll of Apple co-founder Steve Jobs is reportedly pulling the figure from markets following pressure from Apple lawyers, a media report said here.
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Posted: January 17th, 2012, 8:30am EST
China's economy expanded at its weakest pace in 2-1/2 years in the latest quarter, with the sagging real estate and export sectors heralding a sharper slowdown in coming months and fresh pro-growth measures from the government.
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Posted: January 17th, 2012, 6:48am EST
Trading in the country's stock market was suspended today until further order following fears of a negative impact after a government decision about investments by public servants in the stock exchange sparked off confusion.
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Posted: January 17th, 2012, 5:05am EST
Airbus took in a record number of orders for new commercial aircraft last year as strong demand for its revamped single-aisle plane helped it best fierce U.S. rival Boeing Co. in the race for orders for the fourth year running.
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Posted: January 17th, 2012, 3:43am EST
China said on Tuesday that its economy expanded by 9.2 per cent last year, slowing from 2010, as global turbulence and efforts to tame high inflation put the brakes on growth.
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Posted: January 16th, 2012, 7:42pm EST
Moody's on Monday confirmed France's triple-A credit rating but said it was still reviewing whether it would maintain its "stable" outlook for the debt-laden country. The announcement came three days after rival agency Standard and Poor's downgraded France's top rating by one notch, dealing a severe blow to President Nicolas Sarkozy's reelection prospects.
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Posted: January 16th, 2012, 7:40pm EST
TALKING TOUGH
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Posted: January 16th, 2012, 8:37am EST
Around 90 percent of Britain's top companies have no women bosses, according to a parliament report.
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Posted: January 16th, 2012, 1:04am EST
Oil prices rose in Asian trade on Monday as worries over supply disruptions in Nigeria outweighed concerns over the mass debt downgrade of eurozone nations, analysts said.
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Posted: January 16th, 2012, 12:42am EST
Oil prices edged up near $99 a barrel in Asia on Monday amid concerns that tensions in the Middle East would hurt crude supply but gains are tempered by jitters over Europe's ratings downgrade.
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Posted: January 15th, 2012, 9:32am EST
he loss of France's much-prized triple-A credit rating three months from elections that will likely hinge on the handling of the economy is a bitter blow for French President.
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Posted: January 15th, 2012, 9:23am EST
Europe is the biggest threat to the global economy, JP Morgan's chief executive Jamie Dimon told German newspaper Die Welt in its Sunday edition.
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Posted: January 14th, 2012, 12:30pm EST
Saudi Arabia has struck $8.22 billion deal with a Spanish consortium to build a high-speed railway on the Muslim pilgrim route between Mecca and Medina, the state news agency reported on Saturday.
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Posted: January 14th, 2012, 6:42am EST
Rating agency Standard and Poor's (S&P) has lowered the sovereign ratings of nine eurozone countries, including France and Italy, a move that reignited concerns over the fiscal sustainability of the region.
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Posted: January 14th, 2012, 6:10am EST
European leaders on Saturday called "incomprehensible" Standard and Poor's credit rating downgrades of nine debt-laden EU countries.
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Posted: January 14th, 2012, 12:38am EST
The cuts deal a heavy blow to the currency union's ability to fight off a worsening debt crisis. In total, S&P cut its ratings on nine eurozone countries.
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Posted: January 13th, 2012, 6:38pm EST
Germany will keep its AAA rating at Standard & Poor's as France and Austria face downgrades on concern about Europe's ongoing sovereign debt crisis, according to government officials and people familiar with the matter. France will lose its top rating for the first time, said Agence France-Presse , citing an unidentified government official.
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Posted: January 13th, 2012, 6:34pm EST
Germany's DVB Bank has said it may repossess two Airbus A320 aircraft from troubled Kingfisher Airlines if the carrier failed to meet its commitment to the lender in due time. Cash-strapped Kingfisher , controlled by flamboyant liquor baron Vijay Mallya, is having trouble making interest payments and paying salaries.
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Posted: January 13th, 2012, 3:06pm EST
Apple has agreed to throw open its doors to labor monitors after a spate of suicides at the firm's Chinese plants, a rights group said on Friday.
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Posted: January 13th, 2012, 11:40am EST
US stocks fell in early trade on Friday as an EU government source said France would lose its top credit rating in an S&P downgrade.
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Posted: January 13th, 2012, 8:52am EST
Drug maker Novartis will cut 1,960 jobs in the United States this year in anticipation of lower sales for two of its hypertension drugs, the Swiss company said Friday.
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Posted: January 13th, 2012, 8:23am EST
China's foreign reserves showed a rare decline in the final quarter of 2011 but still were by far the world's biggest at nearly $3.2 trillion.
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Posted: January 12th, 2012, 12:35pm EST
The Royal Bank of Scotland (RBS) has said it is planning to cut 3,500 jobs across the globe, with most of them to happen this year, a media report said.
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Posted: January 12th, 2012, 12:28pm EST
An asset price bubble pops, hitting bank balance sheets and tax revenues. As growth weakens and the economy flirts with deflation, the real burden of servicing debt increases.
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Posted: January 12th, 2012, 2:15am EST
State-rescued Royal Bank of Scotland on Thursday announced about 3,500 more job cuts over the next three years as the group shrinks its investment banking activities.
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Posted: January 11th, 2012, 12:04pm EST
Ford says it's recalling nearly half a million minivans and SUVs because of a pair of mechanical issues.
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Posted: January 11th, 2012, 8:29am EST
The European Union's executive arm launched a drive on Wednesday to encourage more people to shop online, hoping to double e-commerce and the Internet's contribution to the economy by 2015.
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Posted: January 11th, 2012, 8:11am EST
Germany's economy slipped into reverse in the last quarter of 2011 in spite of showing strong overall growth for the year of 3 percent, the country's Federal Statistics Office said Wednesday.
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Posted: January 11th, 2012, 12:43am EST
US stocks climbed to a five-month high on Tuesday, led by materials stocks after an upbeat forecast by aluminum company Alcoa and strong gains in bank shares.
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Posted: January 10th, 2012, 10:25pm EST
Asian shares were mostly higher Wednesday, tracking gains on Wall Street where US stocks closed at their highest level since July amid positive corporate earnings and consumer spending data.
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Posted: January 10th, 2012, 2:17pm EST
Tim Cook could well end up being the highest paid CEO in America in 2011, after Apple granted him a million restricted stock units last August for taking the reins shortly before co-founder Steve Jobs died.
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Posted: January 9th, 2012, 10:25pm EST
Oil prices rose in Asian trade on Tuesday with buoyant US consumer data and heightened worries over Iran's nuclear programme providing support, analysts said.
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Posted: January 9th, 2012, 7:32pm EST
The leaders of France and Germany vowed Monday to speed up various measures to ease the eurozone crisis, as the euro flirted with new lows on the market amid signs of heightened banking tensions.
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Posted: January 9th, 2012, 11:28am EST
The Hyundai Elantra edged out the Ford Focus and Volkwagen Passat on Monday to win the 2012 North American Car of the Year award.
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Posted: January 9th, 2012, 10:41am EST
Europe's debt crisis is more dangerous than the 2008 global financial crisis, billionaire investor George Soros said.
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Posted: January 9th, 2012, 8:44am EST
The euro zone will most likely hold together but still has to take decisive action to resolve its debt crisis, British prime minister David Cameron said on Monday.
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Posted: January 9th, 2012, 8:23am EST
The Munich-based company said that worldwide sales of BMW, MINI and Rolls-Royce cars rose 14.2 percent to 1.67 million last year as it sold more X3 sport untility vehicles, 5 Series models and MINIs.
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Posted: January 9th, 2012, 1:55am EST
Europe may avoid a recession this year and there were reasons to be more upbeat about prospects for the region, the newspaper quoted International Monetary Fund's Managing Director Christine Lagarde as saying.
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Posted: January 8th, 2012, 10:33pm EST
Italian Prime Minister Mario Monti rejected talk of a euro crisis and said Rome was open to the idea of a tax on financial transactions championed by France -- but only if the measure was part of an EU-wide effort.
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Posted: January 6th, 2012, 5:17pm EST
As the US economy recovers and adds more jobs, Americans are paying the price at the gas pump.
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Posted: January 6th, 2012, 9:21am EST
A burst of hiring in December pushed the US unemployment rate to its lowest level in nearly three years, giving the economy a boost at the end of 2011.
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Posted: January 5th, 2012, 10:25pm EST
Asian markets fell and the euro continued its struggles as fresh concerns over Spain and Italy rattled investors despite another strong batch of jobs data from the United States.
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Posted: January 5th, 2012, 3:59pm EST
PepsiCo Inc is considering cutting about 4,000 jobs and reducing pension contributions in order to boost its earnings, the New York Post said, citing sources close to the situation.
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Posted: January 5th, 2012, 2:10am EST
European countries have taken their boldest step so far in the increasingly tense standoff with Iran over its nuclear program, agreeing in principle to impose an embargo on Iranian oil, French and European diplomats said on Wednesday.
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Posted: January 5th, 2012, 12:38am EST
The latest figures, down from a trade surplus of $183 billion in 2010, came as key Western markets struggle to emerge from the global economic downturn.
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Posted: January 4th, 2012, 10:44pm EST
Asian stock markets were mixed early on Thursday, following flat trading on Wall Street as renewed worries over Europe’s banking system and a strong yen weighed on investor sentiment.
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Posted: January 4th, 2012, 4:55pm EST
US stocks closed nearly flat Wednesday on positive economic data as crude settled higher on a European Union preliminary agreement to ban imports of Iranian oil.
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Posted: January 4th, 2012, 11:55am EST
The Boeing Co. has told its employees that it plans to close its massive defense plant in Wichita before the end of 2013 in a bid to cut costs in a tight market for defense spending.
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Posted: January 4th, 2012, 8:30am EST
Euro zone inflation eased from last year's peaks of 3.0 percent in December, the first sign of a fall in price growth this year that analysts expect will create room for more interest rate cuts to help the weakening economy.
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Posted: January 4th, 2012, 1:25am EST
Asia's fuel oil time spreads extended gains across the entire 12-month forward curve on Wednesday, with the first five months' contracts strengthening by nearly a dollar or more, as tight supplies spelt a bullish start to the new year.
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Posted: January 3rd, 2012, 9:09pm EST
US crude oil edged up above $103 a barrel on Wednesday, adding to sharp gains the previous session, on support from strong US economic data and rising tensions between Iran and the West.
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Posted: January 3rd, 2012, 6:32am EST
Three things could push the country's GDP growth to a ten-year low: falling house prices, a slump in property investment, and slowing exports.
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Posted: January 2nd, 2012, 7:15pm EST
The Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds with an investible amount of $700 billion, is keen to invest in India’s infrastructure sector and wants to build a strategic partnership with New Delhi.
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Posted: January 2nd, 2012, 6:21pm EST
US crude oil rose more than a dollar on Tuesday on worries that escalating tensions between Iran and the West could lead to a disruption in oil supplies.
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Posted: January 2nd, 2012, 2:02am EST
The whisky industry in Scotland has not been affected by the economic downturn because of developing overseas markets, especially in India, China and Brazil, a report said.
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Posted: January 1st, 2012, 12:10pm EST
Virgin Money completed its acquisition of bailed out British lender Northern Rock on Sunday, despite calls for the sale to be delayed while the national auditor investigates whether the deal is good value for money.
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Posted: January 1st, 2012, 12:07pm EST
An international arbitration panel has awarded U.S. oil giant Exxon Mobil Corp (XOM.N) $908 million in compensation for Venezuela's 2007 nationalization of assets, less than 10 percent of what it sought in a dispute that pitted a top global oil company against one of the world's largest oil exporters.
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Posted: January 1st, 2012, 9:35am EST
Six renowned economists suggest six different ways how to deal with the prevailing tough financial conditions in 2012.
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Posted: January 1st, 2012, 8:49am EST
The euro could become world's leading currency in the next decade if eurozone leaders succeed in tightening fiscal integration, Christian Noyer said.
