March 20, 2012
China raises fuel prices for second time in a month
China has raised the price of petrol by about 6% and diesel about 7% for the second time in 2012, as it struggles with the rising cost of crude oil. Global oil prices have been high because of tensions with key supplier Iran. The move is aimed at…
March 20, 2012
Apple to pay dividend and buy back shares
Apple has said it will use its cash to start paying a dividend to shareholders and to buy back some of its shares. The technology giant said it would pay a quarterly dividend of $2.65 per share from July. It will buy back up to $10bn (£6.3bn) of its…
March 20, 2012
Australia passes controversial mining tax into law
The Australian Senate has pushed through into law a 30% tax on iron ore and coal mining companies. The tax will raise A$10.6bn ($11.2bn, £7bn) over three years from major companies including BHP Billiton, Rio Tinto and Xtrata. Strong demand for raw…
March 20, 2012
Deutsche to challenge EU over NYSE Euronext ruling
Deutsche Boerse is to legally challenge the European Commission's decision to block its planned merger with stock exchange rival NYSE Euronext. The two companies called off their merger last month after Brussels objected to the deal on competition…
March 20, 2012
Mets owners settle Bernard Madoff lawsuit
The owners of the New York Mets baseball team have agreed to pay $162m (£102m) to settle a lawsuit which accused them of being "wilfully blind" to Bernard Madoff's Ponzi fraud. The civil case against Mets' owners Fred Wilpon and Saul Katz was…
March 19, 2012
Lagarde says China must reform economy and yuan
International Monetary Fund (IMF) head Christine Lagarde has said that China must stop its economy being too dependent on exports and investment. She also said the yuan could become a global reserve currency if China implemented market-oriented…
March 19, 2012
Brazil to charge Chevron executives over fresh oil leak
Brazilian prosecutors say they will bring criminal charges against 17 executives from the US oil company Chevron and drilling contractor Transocean after a new leak of crude. The executives have been barred from leaving the country until the…
March 19, 2012
China home prices continue to slide for fifth month
Property prices in most Chinese cities have fallen for a fifth consecutive month, underpinning government success in curbing speculation in the market. In February, new home prices in 45 out of 70 cities fell compared to the previous month, the…
March 19, 2012
Greece’s Pasok party elects Evangelos Venizelos leader
Greece's Finance Minister Evangelos Venizelos has claimed victory in the Pasok party's leadership election. The 55-year-old ran unopposed in the contest to take over the centre-left party from George Papandreou, who resigned as prime minister in…
March 19, 2012
Red Bull creator and Thai tycoon Chaleo Yoovidhya dead
The creator of the energy drink Red Bull, Chaleo Yoovidhya, has died. Mr Chaleo rose from humble origins to become one of Thailand's richest men, with a wealth estimated at $5bn (£3.2bn) last year. His pharmaceutical company produced a tonic drink…