August 2, 2011
Spain PM postpones holiday as debt fears hit record
Spain's Prime Minister Jose Luis Zapatero has been forced to postpone his holiday as investors continue to flee his country's debt. Mr Zapatero had been due to leave for south-west Spain. But on Tuesday, the yield on Spanish bonds reached 4.04…
August 2, 2011
US to avoid default as Senate backs debt ceiling rise
The US Senate has passed a deal struck between Republicans, Democrats and President Barack Obama to increase the US debt ceiling and avert a default. The bill passed the Senate by 74 votes to 26. Mr Obama is due to speak shortly and then sign the…
August 2, 2011
Fall in US consumer spending fuels economic worries
US consumers cut their spending in June for the first time in almost two years, according to new data. They also saw their incomes grow at the smallest pace for nine months, fuelling further concerns about economic growth. The US Department of…
August 2, 2011
Barclays profits fall by a third
Barclays has reported pre-tax profits of £2.6bn for the first six months of the year, down 33% from last year. The bank also said it aimed to cut at least 1,400 more jobs in 2011, having cut 1,400 posts already this year. The fall in half-year…
August 2, 2011
IMF details risks to UK economic growth
The International Monetary Fund says there are still "significant" risks to inflation, growth and unemployment in the UK. In its latest assessment of the UK, the IMF said growth would be 1.5% this year - less than the government expects. It backed…
August 2, 2011
Ambassador: US Not Against Mugabe’s Party
The U.S. ambassador to Zimbabwe says the United States is not against the party of President Robert Mugabe, which it has accused of human rights abuses. In a speech on U.S.-Zimbabwean relations, Ambassador Charles Ray said “the U.S. does not favor…
August 2, 2011
Kidnapped Bangladeshi Workers Freed in Afghanistan
Officials say five Bangladeshi workers kidnapped in Afghanistan late last year have been freed. Bangladeshi Foreign Minister Dipu Moni told reporters in Dhaka that the hostages were released early Tuesday following negotiations between their captors…
August 2, 2011
Bus Collision Kills 16 in Bangladesh
Bangladeshi police say a head-on collision between two passenger buses has killed at least 16 people and injured more than 50 others. Police say the two buses were traveling on a major highway just outside the capital of Dhaka when they collided…
August 2, 2011
Suicide Bombers Kill 4 in Northern Afghanistan
Afghan officials say a suicide bomb attack has killed at least four people and wounded 10 others in northern Afghanistan. Officials say a suicide bomber detonated a car bomb just before dawn Tuesday outside a compound that houses two separate…