June 6, 2012
G7 crisis talks as Spain says borrowing lines closing off
Finance chiefs of the G7 group of industrial nations have held emergency talks about the eurozone debt crisis. They come amid fresh worries about the eurozone's economy, underlined in data showing that private sector activity, including in…
June 6, 2012
Clico policyholders may sue PM—Ramesh
Senior Counsel Ramesh Lawrence Maharaj says the United Policyholders Group will consider suing Prime Minister Kamla Persad-Bissessar and members of Cabinet if they fail to withdraw the June 30 deadline for acceptance of Government’s Clico…
June 6, 2012
DIGICEL GROUP LIMITED announces strong financial results US$1.1 billion EBITDA for the year ended 31 march 2012
Digicel Group Ltd, the best value mobile operator, today announced a strong set of financial results for the year ended 31 March 2012. With subscribers up 27% to 12.8 million and revenues for Digicel Group Limited (which comprises 30 markets in…
June 3, 2012
Weak US job figures for May hit markets
Stock markets have fallen following worse-than-expected US job figures. The Dow Jones closed down 275 points, or 2.2%, while in Frankfurt the Dax was down 3.4%, in Paris the Cac 40 fell 2.2% and London's FTSE 100 lost 1.1%. The US economy added…
June 3, 2012
Barbados Senator says adjustment will aid economy
SENATOR Andre Worrell has lauded the adjustment made and acknowledged the benefits accrued to the economy from the increase of the Value Added Tax in Barbados, during challenging economic times. He added his contribution to the debate on…
June 3, 2012
Eurozone unemployment rate sticks at 11%
Unemployment in the eurozone was 11% in April, unchanged from March, but still the highest since records began in 1995. Spain had the highest rate in the eurozone at 24.3%, while Austria had the lowest at 3.9%, according to the official figures…
June 3, 2012
BP plans to sell stake in TNK-BP
BP has announced that it is going to try to sell its stake in the TNK-BP Russian oil joint venture. In a short statement, the oil company said it had received “unsolicited indications of interest” in acquiring its shares. BP has informed the…
June 3, 2012
Spain’s manufacturing sector sees contraction worsen
The rate of contraction in Spain's manufacturing sector was worse than that of Greece in May, according to a business survey. Markit's eurozone manufacturing purchasing managers' index for the whole eurozone dropped to 45.1 from 45.9 in April. Any…
June 1, 2012
Spain denies ‘senseless’ IMF bailout rumours
Spain's economy minister has dismissed talk of it seeking a bailout from the International Monetary Fund (IMF) as "senseless". And the IMF denied that Spain had asked to discuss rescue loans. The IMF has contributed to bailouts of all the other…
June 1, 2012
US economic growth slower than thought in first quarter
The US economy grew at an annualised 1.9% in the first three months of 2012, less than the 2.2% first thought. The slower growth rate - which was in line with forecasts - followed a modest downward revision in consumer spending. A rise in the growth…