October 30, 2012
Japan boosts stimulus measures to spur growth
The Bank of Japan has boosted its key stimulus measure amid concerns that Japan's economic recovery may be running out of steam. It has extended its asset purchase programme, under which it buys bonds to keep long-term borrowing costs down, by 11…
October 30, 2012
Apple’s Scott Forstall and John Browett to leave firm
Apple has announced a major shake-up of its management, with two senior executives to leave the company. The announcement follows embarrassing problems with its new mapping software and disappointing quarterly results. Scott Forstall, head of its…
October 30, 2012
BP profits fall but dividend is raised 12.5%
Oil giant BP has reported a fall in profits for the past three months. Replacement cost profit, which strips out the effect of oil price movements, was $4.69bn (£3bn), down from $5.27bn for the quarter last year. However, chief executive Bob Dudley…
October 30, 2012
Swiss Bank UBS Announces Job Cuts
Swiss bank UBS has announced it is cutting 10,000 jobs worldwide as it tries to cut costs and slims down its investment banking activities. The jobs will go over the next three years, and amount to 16% of its current workforce of 64,000, the bank…
October 28, 2012
Sacked platinum miners reinstated
The world's biggest platinum producer, Anglo American Platinum (Amplats), has agreed to reinstate the 12,000 South African miners sacked for taking part in an unofficial strike. It had agreed to take back the miners if they returned to work by…
October 28, 2012
Samsung posts record profits on Galaxy phone sales
Samsung Electronics has reported record profits in the three months to September, led by strong sales of its Galaxy range of smartphones. Net profit was 6.5t won ($5.9b; £3.7b), up 91 per cent from a year earlier. The South Korean phonemaker was…
October 27, 2012
Paul Ceglia charged with trying to defraud Facebook
A New York businessman has been charged with trying to defraud Facebook by claiming he was owed a 50% share of the social media company, prosecutors say. Paul Ceglia is accused of fabricating and destroying evidence in a lawsuit asking for…
October 27, 2012
Nintendo’s Wii U games console will be sold at a loss
Nintendo has confirmed that it will lose money on every sale of its Wii U console at launch. The Japanese firm's president revealed the news after the firm cut its profit forecast. "We had to book a loss on the hardware, which is currently in…
October 27, 2012
Spain jobless rate hits new high in third quarter
About a quarter of working-age people in recession-hit Spain are unemployed, new figures have shown. The unemployment rate rose to 25% in the third quarter, from 24.6% in the previous three months, Spain's National Statistic Institute said. Among…
October 27, 2012
Jamaican QC expected in T&T tomorrow to take Clico brief
Jamaican lawyer Vincent Nelson, QC, will arrive in T&T tomorrow. Nelson is the newly-appointed lead counsel in the Ministry of Finance’s legal team at the Clico/HCU Commission of Enquiry. Along with Jagdeo Singh and Roger Kawalsingh, he replaced…