June 7, 2012
LIME & Digicel Could Face Legal Action In Fees Battle
Caribbean Cellular Telephone (CCT) has not ruled out the possibility of seeking legal action against regional carriers, LIME and Digicel to recover what the company termed as "massive loss" due to anti-competitive behaviour. Jose Luis Fernandez,…
June 6, 2012
Australia’s economy expands more than expected
Australia's economy expanded more-than-expected in the first three months of the year allaying fears of a global slowdown hurting its growth. Growth was 1.3% during the period from the previous three months. Analysts had projected a 0.5%…
June 6, 2012
EU unveils plan to protect taxpayers from failing banks
The European Commission on Wednesday will unveil new proposals designed to stop taxpayers' money being used to bail out failed banks. They aim to ensure losses are borne by bank shareholders and creditors and minimise costs for taxpayers. It wants…
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…