January 11, 2013
US trade deficit widens as imports increase
The US trade deficit widened unexpectedly in November, after a rise in the import of consumer goods. Figures from the Commerce Department showed that the gap widened by 16% to $48.7bn (£30.1bn). The markets were expecting the deficit to shrink. The…
January 11, 2013
Dreamliner plane review ordered by US regulators
US regulators have ordered a review of the 787 Dreamliner plane after a series of incidents put a question mark over the safety of Boeing's flagship plane. The review by the Federal Aviation Administration will look at the design and manufacture of…
January 8, 2013
Eurozone unemployment reaches new high
The unemployment rate across the eurozone hit a new all-time high of 11.8% in November, official figures have shown. This is a slight rise on 11.7% for the 17-nation region in October. The rate for the European Union as a whole in November was…
January 8, 2013
Iranian oil revenues ‘drop 45%’ because of sanctions
Iranian oil revenues have fallen around 45% in the last nine months because of Western sanctions, a leading Iranian politician says. Gholam Reza Kateb, an MP on the national planning and budget committee, said the country's economy as a whole was in…
January 8, 2013
Banks to pay $8.5b for foreclosure abuse
Ten major banks agreed yesterday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. The banks, which include JPMorgan Chase, Bank of America and Wells…
January 8, 2013
Dominican Republic poor region upbeat on major gold find
San Juan de la Maguana province (west) took the biggest step in the country’s mining development after gold and copper was discovered in its depressed territory, which will create new jobs in the corridor called Las Tres Palmas, that links the…
January 8, 2013
HTC profits slump 90% on strong competition
Taiwanese mobile phone maker HTC has reported a slump in profits as it continues to suffer at the hands of rivals Apple and Samsung. Unaudited net profit in the fourth quarter was T$1bn ($34m; £21m), down more than 90% on the T$11bn the firm made a…
January 4, 2013
Transocean agrees to pay $1.4bn oil spill fine
Transocean, which owned the Deepwater Horizon oil rig, has agreed to a settlement with the US government. The Swiss-based company will pay $400m (£248m) in criminal penalties and a $1bn civil fine after pleading guilty to violating the Clean Water…
January 4, 2013
US Congress: John Boehner re-elected as House speaker
The US Congress has begun its new term, with House Speaker John Boehner re-elected amid the prospect of more budget battles with the White House. The 113th Congress began two days after the 112th passed an 11th-hour law to avoid the so-called…
January 4, 2013
Google makes concessions to avoid legal action in US
The Federal Trade Commission (FTC) has decided not to take legal action against Google at the end of a 19-month investigation into the search giant. It found Google had not biased its search results to favour its products. Google has agreed to give…