February 19, 2012
Positive economic data spark rally on Wall Street
A latest bunch of positive economic data sparked a rally on Wall Street on Thursday, pushing major indexes to fresh multi-year closing highs. The Dow Jones industrial average gained 123.13 points, or 0.96 percent, to 12,904.08, only about 100…
February 19, 2012
Canadian stocks rally on positive U.S. data
The Canadian stock market was higher on Thursday as positive U.S. economic data helped traders balance doubts as to whether Greece will get the bailout money needed to head off bankruptcy and the possibility of downgrades involving some of the…
February 19, 2012
US Congress backs payroll tax cut
The US Congress has voted in favour of extending a payroll tax cut until the end of 2012, ending months of debate. The bill now moves on to President Barack Obama, who has promised to sign it into law. The deal would extend a payroll tax cut the…
February 19, 2012
Fake US bonds worth trillions seized
Italian prosecutors say they have broken up an organised crime ring that was hiding trillions of dollars of fake US bonds. Worth $6 trillion, the bonds were found in three metal boxes in a warehouse in the Swiss city of Zurich. Italian authorities…
February 17, 2012
Asian shares up on recovery hopes amid positive US data
Asian markets have risen on hopes of a recovery in the US after the world's biggest economy reported better-than-expected jobs data. Japan's Nikkei 225 index rose 1.9%, South Korea's Kopsi gained 1.5% and Hong Kong's Hang Seng index added 1%. On…
February 17, 2012
General Motors unveils record profits for 2011
US carmaker General Motors made record profits in 2011 but unveiled huge losses in its European operations. The firm made a profit of $7.6bn (£4.85bn) over the year, up 62% from 2010. However, it lost $700m in Europe, which includes its UK Vauxhall…
February 17, 2012
Patents: Apple wins over Motorola in ‘slide-to-unlock’ ruling
Apple has won a patent dispute against Motorola Mobility regarding a "slide-to-unlock" feature on smartphones. The judgement marks Apple's first patent victory over Motorola in any part of the world. Patent consultant Florian Mueller said the ruling…
February 17, 2012
Stanford saw Antigua as “Crown Jewel”, jury hears
The former Sir R. Allen Stanford, the man US federal prosecutors accuse of a $7 billion investor scam through certificates of deposit in an offshore bank, saw his adopted country of Antigua and Barbuda as a “crown jewel.” The disclosure came from…
February 15, 2012
UK inflation rate drops amid ratings downgrade threat
Britain's inflation rate fell to 3.6 per cent in the year to January from 4.2 per cent the previous month, official figures showed Tuesday. The news comes a day after ratings agency Moody's cut its outlook on the nation's AAA credit rating from…
February 15, 2012
LIME Jamaica low on cash
Early reports of a telecoms agreement on inter-connection rates were doused last night after Minister Phillip Paulwell clarified that the parties had only agreed a framework on which an eventual deal could emerge. LIME Jamaica's Garry Sinclair…