January 27, 2013
Wall Street shares top recent records on investor confidence
Wall Street has continued to break recent records on the back of stronger economic data and better profits news from corporate America. The Dow Jones and S&P 500 indexes of major US companies closed at their highest since late 2007. US homes…
January 27, 2013
Pentagon laying off 46,000 staff
The US defence department says it has begun laying off most of its 46,000 temporary employees, as automatic defence budget cuts loom in March. Deputy Defence Secretary Ashton Carter said the Pentagon was acting "because we're running out of time" to…
January 24, 2013
Japan Moves to Stimulate Its Stalled Economy
Japan's central bank is embarking on an American-like plan to stimulate the country's stalled economy by pumping more money into it. The Bank of Japan, under pressure from the new government of Prime Minister Shinzo Abe, agreed Tuesday to double…
January 20, 2013
Morgan Stanley swings back to profit
US bank Morgan Stanley has said it swung back to profit in the fourth quarter of 2012, a turnaround it described as a "pivot point". It reported a net profit of $481m (£302m) in the last three months of the year, compared to a loss of $275m in the…
January 20, 2013
China growth shows signs of pick-up from 13-year low
China's economy, the world's second largest, is showing signs of a rebound that could help it emerge from its worst economic period in 13 years. According to the latest government figures, growth picked up to 7.9% in the final three months of 2012,…
January 20, 2013
Algeria oil industry: ‘Dark cloud’ over production
The situation with oil workers taken hostage in Algeria puts a "dark cloud" over the country's production, an international energy body has said. Several hostages have been killed. The International Energy Agency said that "political risk writ…
January 20, 2013
‘Wrong’ maple leaf on Canadian banknotes
Canada's new plastic banknotes feature Norway maple leaves, instead of the Canadian sugar maple leaf, according to botanists. They argue the leaf shown features more sections and has a more pointed outline than the Canadian version. The maple leaf…
January 15, 2013
Fitch warns of risk to UK’s AAA credit rating
The UK continues to risk losing its top AAA credit rating if it does not reduce its debt, a senior figure at Fitch Ratings has told the BBC. David Riley reiterated that Fitch was unhappy that the chancellor said in the Autumn Statement that the…
January 15, 2013
T&T economy has improved
Central Bank Governor Jwala Rambarran remained mum yesterday about whether Government’s declining approval ratings could affect economic confidence, but he was heartened to see a positive public perception that the local economy has improved.…
January 15, 2013
Germany’s economic growth slows sharply in 2012
The German economy grew by 0.7% in 2012, a sharp slowdown on the previous year, preliminary figures show. The figure was well below the 3% growth seen in 2011 and suggests the economy contracted in the fourth quarter. "In 2012, the German economy…