April 16, 2012
Virgin Atlantic to appeal against BMI sale to BA
Virgin Atlantic is to appeal against the European Commission's decision to allow the owner of British Airways to buy the airline BMI. IAG, which also owns Spain's Iberia, has been given the go-ahead to buy its smaller rival from Lufthansa for…
April 15, 2012
Colombia’s Jose Antonio Ocampo exits World Bank race
Colombia's Jose Antonio Ocampo has pulled out of the race to be the next president of the World Bank. "It is clear that this is not based on the merits of the candidates but is a political exercise," he said. His comments referred to the likelihood…
April 15, 2012
Goldman Sachs fined $22m over flaws at weekly ‘huddles’
Goldman Sachs has been fined $22m (£13.8m) by US regulators to settle charges that some "top clients" may have been tipped off about stocks. The Securities and Exchange Commission (SEC) said that the bank lacked policies to prevent leaks from…
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…