April 3, 2013
Cyprus bailout: Finance Minister Michalis Sarris quits
Cypriot Finance Minister Michalis Sarris has resigned as a judicial panel prepares to investigate the role that he and others played in a financial crisis that pushed the eurozone member to the brink of bankruptcy. Sarris submitted his resignation…
April 3, 2013
Eurozone unemployment rate at record high
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April 3, 2013
US factory orders rise thanks to aircraft sales
New orders at US factories rose in February from January mainly due to a jump in demand for commercial aircraft. Orders for aircraft nearly doubled, and orders for motor vehicles and parts also increased by 1.4%. The Commerce Department said…
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…