July 5, 2012
Bank of England pumps £50bn more into economy
The Bank of England has announced it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) programme to try and boost demand. QE is the Bank's scheme which aims to boost the economy by buying…
July 5, 2012
Volkswagen agrees to buy rest of Porsche for $5.6bn
Volkswagen says it has agreed a deal to buy the remaining 50.1% stake in Porsche it doesn't already own by the start of next month. VW will pay 4.46bn euros ($5.6bn; £3.6bn) plus one VW common share to acquire the stake. The two firms had agreed in…
July 5, 2012
GKN agrees to buy Volvo’s aero engines division
Engineering group GKN has agreed to buy the aero engine business of Swedish truck-maker Volvo for £633m ($986m). GKN's chief executive, Nigel Stein, said the deal was, "a highly attractive acquisition... creating a market leader in aero engine…
July 5, 2012
HTC defeats Apple in swipe-to-unlock patent dispute
HTC is claiming victory in a patent dispute with Apple after a ruling by the High Court in London. The judge ruled that HTC had not infringed four technologies that Apple had claimed as its own. He said Apple's slide-to-unlock feature was an…
July 3, 2012
Barclays boss Bob Diamond resigns amid Libor scandal
Barclays chief executive Bob Diamond has resigned with immediate effect. The move comes less than a week after the bank was fined for trying to manipulate inter-bank lending rates, sparking a government inquiry and calls for criminal……
July 3, 2012
Spain’s jobless level falls by 100,000 in June
The number of people looking for work in Spain fell almost 100,000 in June, a record for the month, to 4.62 million. The Labour Ministry said the number of people filing for unemployment benefits fell by 98,853, or 2.1%, compared with the previous…
July 3, 2012
Microsoft in $6.2bn writedown of Aquantive
Microsoft has written down the value of an online advertising firm it bought five years ago by $6.2bn (£4bn). Microsoft bought Aquantive for $6.3bn in cash in an attempt to catch rival Google in the race to increase revenues from search-related…
July 3, 2012
Europe’s Airbus to Open US Plant
The world's largest aircraft manufacturer, Europe-based Airbus, says it is planning to build its first U.S. manufacturing plant. Airbus said Monday it intends to open an assembly plant in the southern U.S. city of Mobile, Alabama. The company said…
July 3, 2012
Eurozone Jobless Rate Hits Record as Manufacturing Contracts
Twin reports are showing new economic weakness in the 17-nation euro currency bloc, with the jobless rate reaching a record level and manufacturing activity unchanged at a three-year low. The European Union said Monday the eurozone's unemployment…
July 2, 2012
Apple ‘settles China iPad trademark dispute for $60m’
Apple has agreed to pay $60m (£38m) to Chinese firm Proview to settle a dispute involving rights to the "iPad" name, a court in China has said. Proview had claimed that it owned the rights to the iPad name in the Chinese market after registering…