May 14, 2012
China, S Korea and Japan to begin free trade talks
The leaders of China, Japan and South Korea, three of Asia's biggest economies, have agreed to begin talks this year for a free-trade agreement. The three leaders also signed a trilateral investment agreement, at a summit in Beijing on Sunday.…
May 14, 2012
JPMorgan boss Jamie Dimon admits failures
The chief executive of JPMorgan Chase, Jamie Dimon, says he was "dead wrong" in April to dismiss concerns over the bank's trading practices. At the time he played down concerns over bets the bank made on the markets. On Thursday JPMorgan said it…
May 14, 2012
German Finance Minister Wolfgang Schaeuble eyes EU role
German Finance Minister Wolfgang Schaeuble has indicated interest in becoming chairman of the eurozone finance ministers' regular meetings. It is a key position that involves coordinating policy among the 17 countries that use the euro. Known as…
May 14, 2012
China allows banks to lend more in bid to boost economy
China has cut the amount of funds banks have to hold in a reserve, in a bid to boost its economy. It is the third time the central bank has made such a move in six months. It follows recent economic data suggesting that the Chinese economy is…
May 11, 2012
JPMorgan Reveals $2 Billion Trading Loss
The chief executive of JPMorgan Chase — America's largest bank — revealed Thursday that the bank recently lost $2 billion in the same complex, risky trades that helped bring on the 2008 financial crisis. Jamie Dimon called the bank's actions an…
May 11, 2012
World markets recover from stumble over Europe elections
Stock markets recovered around the world following an early stumble caused by election results in France and Greece that appeared to jeopardise Europe’s plans for fighting its debt crisis. Greek voters over the weekend punished mainstream…
May 11, 2012
US oil prices lower, further declines expected
Brent crude continued its descent, falling by 18 cents per barrel to US$113.02 yesterday. But benchmark US oil rose slightly, adding 42 cents to US$97.23. Analysts say oil prices should keep falling this summer if supplies grow as expected. OPEC…
May 8, 2012
Court document says Olint gave JLP US$5m and PJ denies getting US$1m from OLINT
The Jamaica Labour Party (JLP) has admitted that Olint’s David Smith was one of its contributors for the 2007 election campaign. But the JLP says it will be investigating the claim made here in the Turks and Caicos Supreme Court document that…
May 8, 2012
Google breached Oracle’s Java copyright, US jury finds
A US jury has found that internet giant Google breached copyright in a case brought by Oracle over its Java programming language. But the jurors were unable to agree on whether Google's actions constituted "fair use" under copyright law. Oracle…
May 8, 2012
Shares recover as election fears prove short-lived
European shares finished higher as investor concerns about government austerity plans following weekend election results proved short-lived. Pro-bailout parties in Greece performed poorly, while Francois Hollande won the French presidency,…