June 9, 2013
Barack Obama defends US surveillance tactics
President Barack Obama has defended newly revealed US government phone and internet surveillance programmes, saying they are closely overseen by Congress and the courts. Mr Obama said his administration had struck "the right balance" between…
June 9, 2013
Google says the government has ‘no access’ to servers
Google has issued a strong denial that it allows the US government to access its servers. The internet giant said the government has no access, "not directly, or via a back door, or a so-called drop box". The Guardian claims the UK's eavesdropping…
June 9, 2013
US economy adds 175,000 jobs in May
US employment rose by slightly more than economists had predicted during May. The latest US non-farm payrolls show that 175,000 jobs were created last month. But the unemployment rate increased slightly to 7.6%. Shares had mostly fallen in the…
June 9, 2013
UBS under formal investigation in France over tax evasion
French authorities are formally investigating UBS for allegedly helping wealthy clients open undeclared bank accounts in Switzerland. The Swiss bank is suspected of "complicity in illegal sales practices", an official at the Paris prosecutor's…
June 9, 2013
German central bank cuts growth forecasts for 2013 and 2014
Germany's central bank has cut its growth forecast for the country, but says the outlook for the economy has "become brighter". The Bundesbank expects the economy to grow by 0.3% this year, down from an earlier forecast of 0.4%. In 2014, it expects…
May 29, 2013
Europe Hands 6 Nations a Deficit Reprieve
Europe is giving six of its financially struggling countries, including the major economies in France and Spain, more time to control the deficit spending of their governments.Austerity - calling for cuts in spending and increased taxes - has been…
May 29, 2013
China’s growth forecast cut by IMF
The International Monetary Fund (IMF) has cuts its economic growth forecast for China, with weakness in the global economy set to hit exports. The IMF said it now expected the world's second largest economy to grow by "around 7.75%" this year, and…
May 29, 2013
Jaguar Land Rover roars ahead to record £1.67bn profit
Profits at Jaguar Land Rover have roared to an all-time high. Pre-tax annual profits at the Coventry-based vehicle maker rose 11% to £1.67bn and helped temper a 36% fall in profits at the company's parent group, Tata Motors. Total world sales at…
May 22, 2013
Apple’s Tim Cook defends tax strategy in Senate
The technology giant Apple has been defending itself against accusations that it's avoided paying tax on tens of billions of dollars in profits. Chief executive Tim Cook told a US Senate committee Apple paid all the taxes it owed, complying with…
May 22, 2013
British inflation eases by more than expected
Official figures show that consumer price inflation in Britain eased in April, largely on the back of lower fuel prices and airfares. The Office for National Statistics said Tuesday that the annual rate fell to 2.4 per cent in April from 2.8 per…