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,…
March 22, 2013
YouTube reaches one billion monthly users
YouTube, the video sharing site owned by Google, has announced it has passed one billion regular users. Announcing the milestone on its blog, the site said a recent growth in smartphones had helped boost the numbers visiting the site every month.…
March 22, 2013
Hedge funds storm back into form
With crisis in Cyprus, gloom in the UK's Budget and growing fears of a correction in the US Treasury market, you could be forgiven for thinking markets were as turbulent as ever. For some, though, the sun is shining: 2013 has seen some of the…