April 3, 2013
UK to avoid triple dip recession, says BCC
The UK is set to avoid falling back into recession, according to the British Chambers of Commerce (BCC). The BCC believes a strong performance by Britain's service industries during the first three months of the year has kept the economy growing.…
April 3, 2013
Dow Jones and S&P climb to new highs
New York's Dow Jones and S&P 500 share indexes have set new all-time highs. The rallies mean the stock markets are returning to levels not seen since before the global financial crisis. The Dow rose 89 points, to close at 14,662, after an…
March 31, 2013
Bank of Cyprus big depositors could lose up to 60%
Bank of Cyprus depositors with more than 100,000 euros (£84,300; $128,200) could lose up to 60% of their savings as part of an EU-IMF bailout restructuring move, officials say. The central bank says 37.5% of holdings over 100,000 euros will…
March 31, 2013
US economy ekes out 0.4% growth in fourth quarter
The US economy grew at a faster than expected 0.4% in the fourth quarter of 2012, the Department of Commerce has said. The annualised figure was better than an earlier estimate of 0.1% growth, reflecting increased investments in plant and…
March 31, 2013
S&P 500 index reaches record high
The S&P 500 index closed on Thursday night at a record high of 1,569, up 6 points or 0.4%. The last time it broke into new territory was on 9 October 2007 when it closed at 1,565. The Dow Jones index was also up 0.4%, with a rise of 52…
March 31, 2013
IMF ‘has confidence’ in Christine Lagarde
The International Monetary Fund (IMF) has said it continues to have "confidence" in its managing director Christine Lagarde. An IMF spokesman said the fund's board backed Ms Lagarde despite a French inquiry into alleged abuses of power. The…
March 31, 2013
Blackberry reports 1m Z10 sales
Mobile phone maker Blackberry says it has sold one million of its new Z10 smartphones. In better than expected results the company said it made profits of $98m (£65m) in the quarter, after posting a big loss for the same period last year. The…
March 22, 2013
China needs ‘renewed reform momentum’, says OECD survey
China needs a "renewed reform momentum" to sustain long term growth, the Organisation for Economic Co-operation and Development (OECD) has said. It said the financial sector, urbanization, state ownership and innovation were key areas for reforms.…
March 22, 2013
Cyprus MPs due to vote on new plan to secure bailout
MPs in Cyprus are due to begin voting on a series of bills that aim to raise the funds the country needs to secure an international bailout. The country is in a race against time after the European Central Bank gave Cyprus until Monday to find the…
March 22, 2013
US home sales rise fuels recovery hopes
Signs of recovery in the US economy have been underlined with news that home sales are running at a three-year high and that a confidence index rose. Sales of existing homes in February were at their highest annual rate since November 2009,…