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…
February 9, 2012
Greece bailout: Coalition fails to agree cuts
Greek PM Lucas Papademos has failed to secure the support of his coalition for a raft of new…
February 9, 2012
European central banks to blast cash into economy
With Europe sliding toward recession, the region’s two main central banks are preparing to redouble their emergency measures aimed at softening the downturn and blunting the effects of the government debt crisis. Analysts expect the U.K.’s…
February 9, 2012
Apple seeks change to ‘essential’ patent licence rules
Apple has asked for more clarity over how patents deemed crucial to industry standards should be handled. The firm wrote a letter to the European Telecommunications Standards Institute (ETSI) in November, which has now been reported by the Wall…
February 9, 2012
Nokia to carry out 4,000 job cuts
Finnish mobile phone maker Nokia announced the details of 4,000 job losses on Wednesday at plants in Hungary, Mexico and Finland. The company said the plants would remain open and refocus on customising phones whilst the actual assembly would…
February 9, 2012
Cuba and Dominican Republic strengthen commercial bonds
New business opportunities to boost a greater commercial flow between Cuba and the Dominican Republic were analyzed on Monday in Havana by a group of entrepreneurs from the two nations. Attending the meeting, organized by the Cuban Chamber of…
February 8, 2012
BHP Billiton profits fall on lower iron ore prices
Falling commodity prices have pushed down profits at the world's biggest mining company, BHP Billiton. The Anglo-Australian company reported a 5.5% annual drop in first-half net profit to $9.9bn (£6.2bn). It also warned of a volatile outlook due to…
February 8, 2012
Greek leaders postpone meeting as euro exit discussed
Pressure is rising on Greece's national unity government to agree tough reforms demanded by the country's lenders. Greek party leaders once more postponed plans to meet on Tuesday and approve terms of a new bailout. This comes as the European…