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…
January 15, 2013
Apple suppliers’ shares fall on report of cut in orders
Shares of Sharp and other suppliers of iPhone parts to Apple have fallen after reports of a cut in orders for the iPhone 5. Apple has reduced orders by about 50% for its latest model, according to the Nikkei newspaper in Japan. Sharp, which makes…
January 15, 2013
Platinum Producer to Cut 14,000 Jobs in South Africa
Mining giant Anglo American Platinum has announced plans to close four mine shafts in South Africa and cut up to 14,000 jobs. The vast majority of the job cuts would be in the city of Rustenburg, where at least 46 people were killed in mine-related…
January 14, 2013
Volkswagen sales hit record high in 2012
Volkswagen says its group sales hit a record high last year despite slowing sales in Western Europe. The German carmaker sold 9.07 million cars last year, up 11% from 2011. Sales in North America and Asia-Pacific rose 26.2% and 23.3% respectively,…