June 11, 2012
Markets welcome Spanish banks rescue deal
Markets in Europe and Asia have risen in response to the bailout of Spain's banks that was agreed over the weekend. On Saturday, eurozone ministers agreed to lend Spain's banks up to 100bn euros ($125bn; £80bn). The FTSE 100 in London rose 1.0%, the…
June 11, 2012
Gordon Brown gives evidence of row with Sun
Ex-Prime Minister Gordon Brown says lessons cannot be learned about press standards unless there is honesty about how details of how his son's cystic fibrosis was published by the Sun. He said he and his wife Sarah were "presented with a fait…
June 11, 2012
US commerce secretary John Bryson in car crash probe
US authorities are investigating car collisions involving US Secretary of Commerce John Bryson, who was later found unconscious at the wheel. There were three collisions on Saturday near Los Angeles, California, after which Mr Bryson was treated for…
June 8, 2012
Spain downgraded as bailout estimates mount
Spain's credit rating has been downgraded as estimates on the size of the bailout it needs begin to mount up. Fitch cut its rating on Spanish government debt by three notches to "BBB", a sign it thinks Spain's ability to honour its debts has…
June 8, 2012
US Fed chairman Bernanke ‘ready to act’ on economy
The chairman of the US Federal Reserve Bank said he is monitoring risks to the economy and is prepared to take action. Ben Bernanke was giving testimony to the US Congress, something which has been closely watched by investors looking for signs…
June 8, 2012
Japan raises growth figure on stronger capital spending
Japan's economy performed better than had previously been estimated in the first three months of the year. The Cabinet Office revised upwards growth figures for the period from a preliminary 1.0% to 1.2%, compared with the previous three months.…
June 7, 2012
China cuts key interest rates to boost growth
China has cut its key interest rates for the first time since 2008, in an attempt to boost its slowing growth. The benchmark one-year loan rate was cut by a quarter of one percent to 6.31% while deposit rates were cut from 3.5% to 3.25%. The…
June 7, 2012
Spain bond auction: Borrowing costs edge up
There was strong demand for Spanish bonds at an auction on Thursday, which was seen as a key test of the country's ability to raise funds, but it had to pay a higher interest rate. The rate on the 10-year bonds was 6.044%, up from the 5.743% paid…
June 7, 2012
Digicel sues Govt for ‘misfeasance’
Digicel Bermuda is suing Government for substantial damages “for misfeasance in public office” as part of the protracted legal battle over its launch last year of international long distance. The Royal Gazette understands from a legal source…
June 7, 2012
Bermuda seeks Islamic finance business
“Open for Islamic business:” That’s the message Business Bermuda took to the World Islamic Banking Conference: Asia Summit in Singapore. “After a whirlwind of meetings, events, conferences, and media interviews in Shanghai, Beijing, Singapore,…