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…
March 16, 2012
India uses budget speech to sound upbeat economic note
India's Finance Minister Pranab Mukherjee has unveiled the country's annual budget, saying that the economy is turning around. He added that India would look to reduce subsidies, accelerate reforms and state asset sales and boost infrastructure…
March 16, 2012
Fiat plants in Italy shut over fuel strike
Italian carmaker Fiat has shut down five of its plants in its home country as it struggles to cope with an ongoing transport strike. Lorry drivers have been protesting over taxes on petrol passed in the austerity budget of Prime Minister Mario…
March 16, 2012
Air Berlin losses widen in 2011
Germany's second largest airline, Air Berlin, has reported worse-than-expected losses for 2011 as it continues its efforts to downsize. The budget carrier reported a net loss of 271.8m euros ($322m; £205m) for the year to 31 December 2011. It…
March 16, 2012
Europe Looking to Boost Its Bailout Fund
The 17-nation euro currency bloc appears ready to boost the size of the continent's bailout fund to handle future financial emergencies of its debt-ridden countries. A new $656 billion rescue fund is set to take effect in July. But financial…
March 13, 2012
US, EU and Japan challenge China on rare earths at WTO
The US, Japan and the European Union have filed a case against China at the World Trade Organization, challenging its restrictions on rare earth exports. US President Barack Obama announced the filing at the White House, accusing China of breaking…
March 13, 2012
Yahoo sues Facebook over 10 disputed patents in the US
Yahoo has filed an intellectual property lawsuit against Facebook. Yahoo claims the social network has infringed 10 of its patents including systems and methods for advertising on the web. Facebook denies the allegation. The move comes ahead of…
March 13, 2012
Hungary aid frozen by EU over budget deficit
The European Union has decided to suspend 495m euros ($655m; £417m) of funds due next year to Hungary, because of the country's budget deficit. This is the first case of the EU taking action over the budget deficit of any of its members. But the…