June 1, 2012
British Chambers of Commerce cuts growth forecast
The British Chambers of Commerce (BCC) has slashed its forecast for economic growth this year, from 0.6% to 0.1%. But the group, which represents more than 100,000 businesses, raised its forecast for 2013 from 1.8% to 1.9%. The data, in the BCC's…
May 31, 2012
Eurozone: ECB says no countries ready to join
The European Central Bank (ECB) has said that none of the eight countries that are supposed to join the euro are ready yet. The verdict comes amid growing fears over the future of the currency itself amid the worst crisis it has faced. It said…
May 31, 2012
Facebook shares dip below $29 to new low
Facebook shares have dipped below $29 for the first time since their flotation to a new low. The shares were launched at $38 less than two weeks ago during its high-profile flotation, which valued the firm at $104bn (£66bn). Since then, Facebook's…
May 31, 2012
European Commission suggests bank bailouts
The European Commission has proposed that money set aside for helping governments should be used to bail out ailing banks directly. The commission also pushed for more integration through a euro-wide "banking union" and a single deposit…
May 31, 2012
Premier League club wages climb to new highs
The proportion of income that Premier League clubs spend on wages hit a new high in the 2010-11 season, says a Deloitte report into football finance. Clubs in England's top football league paid some 70% of their income on salaries for the first…
May 31, 2012
Graff delays $1bn Hong Kong listing as market declines
Graff Diamonds has delayed its $1bn (£646m) share sale in Hong Kong citing adverse market conditions. The firm was in the process of meeting investors and was expected to end its share offer later this week. It was set to be the biggest in Asia…
May 29, 2012
China and Japan to start direct yen-yuan trade in June
China will allow direct trading of the yuan and the Japanese yen, in a move aimed at promoting trade between Asia's two biggest economies. This means the two countries will not be using the US dollar as an intermediary. China, which sometimes has…
May 29, 2012
Spain funding situation ‘very difficult’, PM Rajoy says
Spain's prime minister has said it is "very difficult" for the country to get funds. He was speaking amid growing fears about the Spanish banking sector, after Bankia asked the government for 19bn euros ($24bn, £15bn). The premium investors…
May 29, 2012
Canada to force striking rail workers back to work
The Canadian government has introduced legislation to force striking workers at Canadian Pacific Railway to go back to work. Almost 5,000 staff took action at midnight last Wednesday, bringing traffic to a halt on 24,000 km (14,900 miles) of track.…
May 29, 2012
China looks to boost private-sector investment in banks
China has opened up its banking system to private-sector investors, the latest move by Beijing aimed at underpinning economic growth. Over the weekend, China said that private investors would have the same rights as state firms when trying to…