March 20, 2013
Asia currencies gain as Cyprus bailout fears hurt euro
Asian currencies have continued to strengthen as uncertainty over the developments in Cyprus hurt the euro. On Tuesday, Cyprus rejected a controversial levy on bank deposits, proposed by the EU and IMF as part of their bailout package for the…
March 18, 2013
China new home prices rise in February
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March 18, 2013
Asian markets fall amid fears over Cyprus bailout deal
Asian markets have dipped after Cyprus bailout plans triggered fears of an escalation of the eurozone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10bn euros ($13bn; £8.6bn). The plan is yet to be…
March 18, 2013
BP appeal over ‘absurd’ Gulf oil spill payouts
Oil giant BP is taking legal action in the US to limit payouts by a fund set up to compensate those affected by the 2010 oil spill in the Gulf of Mexico. BP said some of the claims being paid by the scheme's administrator were "fictitious" and…
March 18, 2013
Caribbean tourism to keep its piece of the pie
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March 18, 2013
SAC Capital fund pays $614m over insider trading
A major hedge fund has agreed to pay a record $614m (£406m) to US regulators to settle charges of insider trading. SAC Capital, run by Steve Cohen, did not admit or deny the charges. A unit of the business was accused of profiting from secret…
February 22, 2013
Eurozone downturn and deficits to persist, Commission says
The eurozone recession will persist into 2013, the European Commission has conceded in its latest forecast. Governments face an uphill battle to rein in their overspending, with Spain, France and Portugal all failing to cut their deficits to agreed…
February 22, 2013
Air France-KLM losses widen as fuel costs rise
Air France-KLM, the Franco-Dutch airline, says it made a big loss in 2012, blaming sharply rising fuel costs and trouble with its cargo business. Net losses increased 47% to 1.19bn euros (£1bn; $1.57bn), after a 471m-euro restructuring charge and a…
February 22, 2013
Competition Commission raps Big Four accountants
Britain's four biggest accountancy firms have been heavily criticised by the Competition Commission. The regulator has accused PWC, Ernst & Young, Deloitte and KPMG of being too dominant and not always meeting a shareholder's needs. The four…
February 22, 2013
AIG reports $4bn loss from sale of leasing business
American International Group (AIG) has reported a huge loss from the sale of its aircraft leasing business ILFC. The insurer reported a net loss of $4bn (£2.6bn) for the last three months of 2012, due to the $4.4bn loss from the ILFC sale. It had…