February 2, 2012
Facebook unveils $5bn stock market flotation plans
The world's largest social networking site, Facebook, has announced plans for a stock market flotation. Facebook said it would seek to raise $5bn (£3.16bn, 3.8bn euros), about half the amount many analysts expected. But the initial public offering…
February 2, 2012
Sony reports further losses as Thai floods hit sales
Japanese electronics giant Sony has reported another quarterly loss after sales were hit by lower production following the floods in Thailand. The company reported a net loss of 159bn yen ($2.1bn; £1.3bn) for the final three months of 2011,…
February 2, 2012
Caribbean Export launches regional business competition at UK-Caribbean Forum in Grenada
Two regional companies, SMAKS the West Indian Tea Company and David Weekes and Associates are the first winners of the Caribbean Export Development Agency’s Break Point. The regional business competition, which utilizes the Caribbean…
February 2, 2012
Deutsche Bank chief Ackermann fears ‘social time bomb’
The chief executive of Deutsche Bank has warned of a "social time bomb" from wealth and income inequality. Josef Ackermann, who also heads the Institute of International Finance which represents the world's banks, told the BBC that bankers had a…
February 2, 2012
India court cancels 122 telecom licences
India's Supreme Court has cancelled 122 telecommunications licences awarded to companies in 2008. The licences were issued by former minister A Raja, who is accused of mis-selling bandwidth in what has been called India's biggest corruption…
January 31, 2012
UK and Czechs refuse to join fiscal compact
Twenty-five of the EU's 27 member states have agreed to join a fiscal treaty to enforce budget discipline. The Czech Republic and the UK refused to sign up. UK Prime Minister David Cameron said his government would act if the treaty threatened UK…
January 31, 2012
Honda sees sharp drop in profit
Japan's third biggest carmaker, Honda, has announced a 41% drop in quarterly profit, as it continues to feel the impact of Japan's March disasters, the floods in Thailand, and the high yen. Net profit for the third quarter fell to 47.6bn yen…
January 31, 2012
Japanese auto parts firms to pay US anti-trust fine
Japan's Yazaki Corporation and Denso Corporation have agreed to plead guilty and pay fines for fixing prices of parts supplied to US manufacturers. Yazaki will pay $470m (£300m), the second-largest antitrust fine in US history, while Denso has…
January 31, 2012
Cameron urges RBS to show ‘restraint’ over more bonuses
Prime Minister David Cameron has urged RBS to show "restraint" in the award of other bonuses for senior executives. Although RBS chief executive Stephen Hester has waived his award of £963,000 in shares, senior colleagues are also in line for…
January 31, 2012
France cuts 2012 growth forecast
France has cut its growth forecast for this year to 0.5% from 1%, Prime Minister Francois Fillon has announced. The revision was made to "take into account the deterioration of the economic situation", he said. It comes as European leaders meet in…