February 28, 2012
Greece bailout: German MPs give strong backing
German MPs have voted by 496 to 90 to back the second EU/IMF bailout for Greece. Chancellor Angela Merkel had urged them to back the deal, while conceding there was "no 100% guarantee" it would work. Several MPs in her party opposed the deal but it…
February 28, 2012
Payroll tax cut? ‘In your dreams’, says Premier
Premier Paula Cox told businesses in Bermuda to ‘keep dreaming’ about getting a payroll tax reduction today at the Chamber of Commerce’s Budget breakfast panel discussion hosted by PwC. “In your dreams”, she lightheartedly said to a chuckling…
February 28, 2012
Prosecutor says hard drives erased in Stanford case
A prosecutor has told jurors at Texas tycoon R. Allen Stanford's fraud trial that computer hard drives belonging to the outside auditor for Stanford's Caribbean bank apparently were erased after the auditor died. The prosecutor's comment came…
February 21, 2012
European shares edge lower after Greece bailout agreed
Europe's financial markets have given a muted reaction to the announcement of a second bailout deal for Greece. The euro was little changed from Monday's closing price, while leading European stock markets edged lower in morning trading. London's…
February 21, 2012
Wal-Mart fourth-quarter profits rise 5.4%
The world's biggest retailer, Wal-Mart, has reported healthy quarterly profits after a strong holiday season in its home market. For the three months to 31 January, Wal-Mart turned in a net income of $5.2bn (£3.3bn), up 3.4% compared with the same…
February 21, 2012
Oil price hits eight-month high
The price of oil has reached its highest level since June last year due to rising tensions over Iran's nuclear programme. Benchmark US light crude rose 1.7% to $105.01 a barrel and brent crude futures rose $1.14 to $120.72 a barrel. On Sunday, the…
February 21, 2012
Manchester United boosts revenues and cuts its debt
Manchester United says its revenues for the last six months of 2011 increased to £175m, as it released its latest financial figures. It is an increase of £18.5m on the Old Trafford club's revenues for the same period last year. The Premier League…
February 21, 2012
Kingfisher Airlines pledges to ‘restore flights soon’
India's loss-making Kingfisher Airlines has told the aviation authorities that it hopes to restore flight schedules in the next five to seven days. On Tuesday, the company's top officials met aviation regulators to discuss plans to end the…
February 19, 2012
China cuts banks’ reserve requirements
China’s central bank cut the amount of cash that commercial lenders must hold as reserves yesterday for the second time in nearly three months, the latest step to shore up the slowing economy. The People’s Bank of China (PBOC) is on the course…
February 19, 2012
UK and France sign nuclear energy agreement
The UK has signed a deal with France to strengthen co-operation in the development of civil nuclear energy. The government said it reiterated the UK's commitment to nuclear energy "as part of a diversified energy mix". The coalition said the…