May 29, 2012
Greek banks receive 18bn euros from bailout fund
Four Greek banks have received 18bn euros (£14.4bn, $22.6bn) as part of the nation's most recent bailout. The funds will be divided between National Bank, Alpha, Eurobank and Piraeus Bank. The money has been released by the European Financial…
May 27, 2012
Apple boss Tim Cook rejects $75m payout
Apple's boss Tim Cook has turned down a payout worth about $75m (£48m). The technology giant will pay a quarterly dividend of $2.65 per share from July, the first time Apple has declared a dividend since 1995. But a regulatory filing with the…
May 27, 2012
Spain’s loss-making Bankia vows transparency
The head of Spain's fourth-largest bank, Bankia, has promised more transparency, a day after announcing huge losses and asking for a bailout. Jose Ignacio Goirigolzarri told a news conference a full restructuring plan would be finalised by the end…
May 27, 2012
Lloyd’s ‘has plans for euro collapse’
The insurance market Lloyd's of London is preparing contingency plans for the possibility of the euro collapsing, its chief executive has said. With Greece facing new elections in June and anti-bailout feelings high, there are fears Athens may be…
May 24, 2012
Euro Zone Assessing Possible Greek Exit
Sixteen nations in the euro currency union have started to assess what financial complications might occur if debt-ridden Greece leaves the monetary compact. Even as they voice the hope that Greece stays in the eurozone, European leaders have in…
May 24, 2012
Chinese manufacturing activity ‘contracts in May’
China's manufacturing activity contracted in May, a survey has shown, indicating that the rate of growth in the economy is continuing to slow. The HSBC Purchasing Manager's Index (PMI) fell to 48.7 from 49.3 in April. The data comes amid fears…
May 24, 2012
Hewlett-Packard to cut 27,000 jobs by the end of 2014
Hewlett-Packard, the world's largest maker of personal computers, is to cut 27,000 jobs by end of 2014. The company said the cuts - about 8% of its workforce - will reduce costs by up to $3.5bn (£2.2bn) a year. HP said in a statement that the money…
May 24, 2012
Google did not breach Oracle patents, a court has found
Google did not infringe patents owned by software developer Oracle, a jury in a California court found on Wednesday. The Silicon Valley giants had fought over whether Google used Oracle's Java programming language in its Android mobile operating…
May 24, 2012
Facebook and banks behind flotation face lawsuit
Facebook, its founder Mark Zuckerberg and the banks leading its flotation are being sued by disgruntled shareholders. A writ, filed in a Manhattan court, alleges that Facebook's revised growth figures were not disclosed to all investors. US…
May 23, 2012
US ‘risks recession’ if tax rises and spending cuts hit
The US could fall off a "fiscal cliff" if tax rises and spending cuts due to take effect at the end of 2012 are not avoided, auditors have said. The US economy could go in to recession, shrinking at a rate of 1.3% in the first half of 2013, the…