November 4, 2012
Apple paid only 2% corporation tax outside US
Apple paid less that 2% corporation tax on its profits outside the US, its filing with US regulators has shown. Apple paid $713m (£445m) in the year to 29 September on foreign pre-tax profits of $36.8bn (£23.0bn), a rate of 1.9%. It is the latest…
November 4, 2012
US economy adds 171,000 new jobs
The US economy added 171,000 new jobs in October, which was much more than had been expected. But the official figures from the Labor Department showed that the unemployment rate still rose to 7.9%, having fallen to 7.8% in September, as more…
November 4, 2012
TNT’s John Jeremie criticises PNM’s Clico bailout plan
SINCE at least November 2009, former PNM Attorney General John Jeremie was aware of flaws in two agreements signed by his own PNM administration with CL Financial governing the State’s 2009 bailout. In particular, Jeremie, who assumed the post of…
November 4, 2012
Chevron concludes sale of fuels marketing and aviation businesses in Caribbean
Chevron has concluded the sale of its fuels marketing and aviation businesses in Jamaica, Dominican Republic and St Maarten to Gulfstream Petroleum, a wholly owned affiliate of GB Group. GB Group is one of the leading private industrial groups in…
October 30, 2012
US markets to remain closed on today amid Hurricane Sandy
Hurricane Sandy has continued to disrupt business in the US East Coast, including forcing US stock markets to close again on Tuesday. Sandy has flooded subway and road tunnels in much of Lower Manhattan. Beyond New York City, public transport has…
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…