April 15, 2012
Standard & Poor’s reaffirms UK’s AAA credit rating
Ratings agency Standard & Poor's has reaffirmed its AAA credit rating for the UK, saying it believes the economy is "wealthy, open and diversified". S&P also confirmed a stable outlook, as it expects the government to implement the bulk of its…
April 15, 2012
Shares hit by worries over Spain
Stock markets have fallen in the US and Europe, led by bank shares, as worries over Spain re-emerged. The FTSE 100 dropped 1%, while Spain's Ibex fell 3.6% and the Dow Jones in New York closed down 1%. Markets have been spooked by the rising…
April 15, 2012
Bank bonus clampdown threatened by European Commission
Europe's Internal Markets Commissioner, Michel Barnier, has said that "tougher action" is needed to curb bank bonuses. He said that he was "seriously worried" by the proportion of pay awarded as bonuses in some countries, and said it encouraged…
April 11, 2012
World stock markets slip on growth fears
Stocks have fallen on fears over the health of the global economy, after last week's weak US jobs data and persistent fears over the eurozone. The US Dow Jones index fell 1.7%, its worst day so far this year. Earlier, France's Cac 40 fell 3.1%,…
April 11, 2012
Japan stocks fall for seventh day amid global sell off
Japanese stocks have fallen for the seventh straight session as fresh fears over health of the global economy sparked a global sell-off. The Nikkei 225 index fell 1% leading the drop in Asian stocks, while Hong Kong's Hang Seng index shed 1.3%.…
April 11, 2012
Obama pushes ‘Buffett rule’ tax rise plan
US President Barack Obama has renewed calls for a new tax on wealthy Americans as he seeks to define his position for the upcoming election. Mr Obama called for the rich to pay a "fair share", ahead of a vote in the US Senate on the so-called…
April 11, 2012
Apple’s market value hits $600bn
Technology giant Apple has surpassed $600bn (£379bn) in value for the first time, affirming its position as the most valuable US firm in the world. Apple shares reached a high of $644 on Tuesday, having only just crossed the $500 threshold back in…
April 11, 2012
Alcoa quarterly profits decline on aluminum prices
US aluminium giant Alcoa has said that its net profits fell from a year ago as the company kicked off US earnings season. It made a net income in the first quarter of $94m (£59m), compared with $308m in the same period last year. This was partly due…
April 8, 2012
US adds 120,000 jobs in March, lower than predicted
The US economy added 120,000 jobs during March, lower than estimates suggested, while the unemployment rate fell slightly to 8.2%. Analysts had predicted a fourth straight month with job growth of more than 200,000. President Barack Obama's…
April 8, 2012
CFTC sues RBC over alleged Caribbean operations
The United States Commodity Futures Trading Commission (CFTC) has filed a legal suit against Canada’s biggest bank by assets, accusing it of carrying out hundreds of millions of dollars of “wash trades” in the Caribbean, among other offices, in…