February 29, 2012
Digicel, FTC challenge continues
Lawyers will continue submissions in the Supreme Court tomorrow in an action brought by telecoms provider Digicel Jamaica challenging the jurisdiction of the Fair Trading Commission (FTC) in its legal attempt to roll back the Digicel-Claro deal.……
February 28, 2012
G20 finance ministers ask eurozone to boost rescue fund
Eurozone countries need to put more money in their rescue fund before G20 nations can step in to help them, the G20 finance ministers have said. They said such a move was "essential" to their decision to provide more resources to the…
February 28, 2012
China reforms needed to sustain growth, says World Bank
China needs to embrace fundamental free-market reforms if its economy is to continue to grow at the "impressive" pace of the past three decades, the World Bank has said. The country had reached a "turning point" and needed to reform a growth…
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…