February 11, 2013
Venezuela devalues currency by 32% against the dollar
Venezuela has cut the value of its currency against the US dollar by 32%, in an effort to boost its economy. The widely expected measure ramps up the official exchange rate of the bolivar from 4.3 to 6.3 per US dollar. It was announced after…
February 11, 2013
EU leaders agree 3% budget cut deal in Brussels
EU leaders have reached an agreement on the budget for 2014-20 after lengthy talks in Brussels. European Council President Herman Van Rompuy announced the deal and said in a statement it was "worth working for". The new budget ceiling amounts to…
February 11, 2013
Boeing warns customers of 787 Dreamliner delays
Boeing has warned customers awaiting delivery of new 787 Dreamliners to expect delays, amid a continuing investigation into their safety. Deliveries of the planes in the near future have either been delayed or are at risk of postponement, the…
February 4, 2013
Obama Calls for Balanced Approach on the Economy
U.S. President Barack Obama has called on lawmakers to work together on a balanced approach to reduce the deficit and promote economic growth.The president said in his weekly address Saturday it is "critical to cut spending." He said, however, "we…
February 3, 2013
Pound sees biggest one-day fall against euro since 2010
The pound has continued to weaken against the euro, seeing its biggest one-day fall in almost three years, on continuing signs that the worst may be over for the eurozone economy. At one point on Friday, sterling fell 1.8% against the single…
February 3, 2013
Barclays bank chief Antony Jenkins to waive bonus
The chief executive of Barclays bank, Antony Jenkins, is to waive his bonus for last year. He said it would be wrong for him to receive a bonus, given what had been a "difficult" year for Barclays. It is thought Mr Jenkins was in line to receive…
February 3, 2013
Eurozone manufacturing ‘on course’ for return to growth
The contraction of manufacturing across the eurozone slowed in January amid signs that the worst may be over, according to a survey. The Markit Purchasing Managers' Index rose to 47.9, from 46.1 in December. The index has been below the 50 mark that…
January 29, 2013
Greek finance minister eyes 2014 recovery for economy
Greece's finance minister believes that the worst is over for his country. "There is definitely a glimmer of hope; light at the end of the tunnel," Yannis Stournaras said. As reforms were rushed through and a massive austerity package passed late…
January 29, 2013
Google expands North Korea map coverage
Google has published mapping information on North Korea, a country that has so far been mostly blank on the popular website Google Maps. The data was compiled on Google's Map Maker tool which allows ordinary people to contribute information mainly…
January 29, 2013
Yahoo sees rise in quarterly revenues under new boss
Yahoo has reported fourth quarter revenues of $1.35bn (£860m) in the fourth quarter, up nearly 2% on the same time a year before. A one-off accounting charge meant fourth-quarter net income was $272.3m, down by 8% compared to $295.6m in the same…