April 23, 2012
China manufacturing on the mend, HSBC survey shows
China's manufacturing activity slowed less quickly in April than the previous month, a preliminary HSBC survey has showed. The HSBC Purchasing Manager's Index (PMI) rose to 49.1 from 48.3 in March easing concerns of a sharp slowdown in China's…
April 23, 2012
Hong Kong fines brokerage firm for inadequate diligence
Hong Kong's securities regulator has fined a brokerage firm and revoked its corporate finance licence as it seeks to implement tighter control over share sales. Mega Capital (Asia) has been fined HK$42m ($5.4m; £3.4m) for "inadequate and…
April 21, 2012
US charges British twins over $1.2m ‘stock robot’ fraud
Twin brothers from England face US civil charges for allegedly defrauding investors out of $1.2m (£745,000) through a bogus stock-picking robot. Alexander and Thomas Hunter, of Whitley Bay, North Tyneside, were aged 16 when, in 2007, they devised…
April 20, 2012
UK offers £10bn loan to the IMF
The IMF says it has received firm commitments of more than $430bn. The money is to help economies in trouble and includes just under £10bn ($15bn) from the UK in loans to the International Monetary Fund (IMF). It is part of a global effort to…
April 20, 2012
Disney film boss Rich Ross resigns after John Carter flop
The head of Disney film-making studio, Rich Ross, has resigned as chairman a month after the film John Carter became one of the company's biggest flops. He revealed his move by email: "I no longer believe that the chairman role is the right…
April 20, 2012
EU condemns Repsol state seizure
The European Parliament has passed a resolution condemning a nationalisation that has strained relations between Spain and Argentina. Argentina has nationalised YPF, wiping out the Spanish firm Repsol's controlling-stake in the oil firm. The…
April 20, 2012
McDonald’s profits boosted by store revamps
McDonald's profits rose 5% in the first quarter to $1.27bn, helped by a revamp of its restaurants. The company said profits had also been boosted by new menu items, including chicken McBites and McCafe drinks. Sales at US stores that have been open…
April 20, 2012
General Electric profits hit by one-off charges
US industrial conglomerate General Electric (GE) has reported a fall in first-quarter profits. The firm made $3.03bn (£1.88bn) in the three months to the end of March, down 10% on the £3.36bn made in the same period last year. This year's results…
April 18, 2012
VAT mixed with low -skill jobs and low wages is a stalled economy
September 1st, 2012 and Saint Lucia is scheduled to be shackled to the core by the economic witches of two political parties. One on the right and the other on the left, both trapped with incomplete reasoning, non – existent visions and ill –…
April 18, 2012
Citigroup investors reject bigger executive pay deal
Citigroup shareholders have voted against giving top executives a bigger pay deal in a rare show of investor discontent. The package, which had increased chief executive Vikram Pandit's pay to $15m (£9m), was backed by just 45% of shareholders.…