January 2, 2013
Portuguese budget sent to court to assess its fairness
The Portuguese president has said that he will send this year's controversial budget to the Constitutional Court. Aníbal Cavaco Silva said the budget didn't treat citizens fairly, and hit some of them worse than others. The right-of-centre…
January 2, 2013
Grece Former Finance faces prosecution
Greece’s coalition government called on Monday for the indictment of former Finance Minister George Papaconstantinou for allegedly removing the names of three of his relatives from a list of Swiss bank account holders whose tax records were to be…
January 2, 2013
Hollande vows to revive French supertax
France's President Francois Hollande says he still plans to raise the top rate of income tax after his 75% plan was struck down on technical grounds. In a national address on New Year's Eve, he said the law would be redesigned, adding, "we will…
January 2, 2013
Singapore growth beats estimates as it avoids recession
Singapore's economy has averted a technical recession, as it reported better-than-expected growth data for the fourth quarter. The economy expanded 1.1% in the October to December period, from a year earlier, advance estimates showed. On a…
January 2, 2013
Merkel warns Germans of tough economic times ahead
Chancellor Angela Merkel has warned that the German economic climate in 2013 will be "even more difficult". In her new year message, she also cautioned that the eurozone debt crisis was far from over. However, she did say that reforms designed to…
December 23, 2012
US fiscal cliff: Boehner still hopes for deal
Republicans will keep working to avoid the so-called fiscal cliff of tax rises and spending cuts, House Speaker John Boehner has said. Earlier, right-leaning Republicans rejected a plan by Mr Boehner to raise taxes on higher earners. Mr Boehner said…
December 23, 2012
Digicel, Marriott break ground on Haiti hotel
Construction crews on Wednesday began to build what is touted as Haiti's first four-star branded hotel, a US$45 million project expected to help boost the country's economy. The resort will be owned by Unigestion Holding SA, a subsidiary of Digicel…
December 23, 2012
Steve Jobs’ high-tech yacht impounded over bill dispute
Venus, the minimalist high-tech yacht commissioned by the late Apple founder Steve Jobs, has become embroiled in a row over a disputed bill. French designer Philippe Starck claims Mr Jobs' heirs still owe him 3m euros of a 9m euro fee for the…
December 23, 2012
Bank reform plans should be tougher, Banking Commission says
Government plans to ring-fence the banks - protecting retail banking from the riskier investment side - "fall well short of what is required", a report has warned. The Banking Standards Commission wants the government to "electrify" the fence so…
December 23, 2012
Google Video executives’ Italian conviction overturned
An Italian court has overturned the conviction of three Google executives found guilty of breaking Italian law by allowing a video of a bullied teenager to be posted online. The clip was uploaded in 2006 and had featured a boy with autism. The…