October 16, 2012
Softbank to take control of Sprint Nextel for $20bn
Japanese mobile phone company Softbank is to buy 70% of US carrier Sprint Nextel for $20.1bn (£12.5bn). The deal will be the biggest overseas acquisition by a Japanese firm. The takeover of the number three mobile carrier in the US will make…
October 16, 2012
Greek Austerity Talks Remain Stalemated
Greece says negotiations with its international lenders over the country's latest austerity plan are unlikely to be concluded before this week's European Union summit. Finance Minister Yannis Stournaras said Monday Greek officials are still talking…
October 16, 2012
IMF Leaders Seek ‘Quick, Effective’ Action on Growth
Global finance ministers have called for quick and effective action to safeguard faltering economic growth and rebuild shaken confidence. The ministers warned Saturday at the annual meeting of the International Monetary Fund in Tokyo that global…
September 5, 2012
Longer working week suggested for Greece
Greece's international lenders have suggested measures including increasing the maximum working week to six days. It is one of several unofficial proposals to liberalise the labour market and increase government revenue, contained in a paper seen by…
September 5, 2012
Lufthansa cancels flights as crew stage third strike
Lufthansa has cancelled hundreds of flights on Friday as cabin staff stage another one-day strike at Germany's three busiest airports. The strike was called by the UFO union late Wednesday for Frankfurt, Munich and Berlin airports. Lufthansa has…
September 5, 2012
Deepwater Horizon: BP accused of gross negligence
The US Justice Department has accused BP of "gross negligence and wilful misconduct" over the Deepwater Horizon disaster, claims which BP denies. The allegations came in papers filed in the federal court in New Orleans. The Deepwater Horizon rig had…
September 5, 2012
Facebook: Mark Zuckerberg not to sell shares for a year
Mark Zuckerberg has said that he will not sell any of his shares in Facebook for at least one year in a bid to shore up investor confidence. His pledge came as Facebook shares hit an all-time low of $17.55 on Tuesday. There have been fears that as…
September 5, 2012
World Economic Forum, U.S Slipping
The World Economic Forum says the United States, with the world's largest economy, is slipping in its global competitiveness because its political leaders have failed to deal with the country's rising debt and continued deficit spending. On…
June 11, 2012
IMF puts Jamaica’s debt at 140% of GDP
The International Monetary Fund (IMF) says Jamaica's debt is 140 per cent of gross domestic product (GDP), 10 percentage points worse than the figure used by the Government, and has warned that it could climb to a Greek-like 150 per cent, or higher,…
June 11, 2012
Chavez: Venezuela concerned about lower oil prices
Venezuelan President Hugo Chavez says his government is concerned some fellow OPEC member countries are violating their quotas by producing too much oil. Chavez says Venezuelan Oil Minister Rafael Ramirez will bring up those concerns at next week's…