January 17, 2012
China GDP Grows at Slowest Rate Since 2009
China's economy grew at its slowest pace in two-and-a-half years during the final quarter of 2011, as Beijing fought chronically high inflation and faced weakened demand for its exports. The growth of China's gross domestic product in the fourth…
January 16, 2012
Costa Concordia sinking could cost Carnival $95m
The sinking of the Costa Concordia could cost parent firm Carnival up to $95m (£62m; 75m euro), the firm has said in a statement. Carnival shares fell 18% in early trading after it said it expected the loss of earnings from the capsizing to be…
January 16, 2012
European stocks shrug off downgrade
European stocks had a subdued reaction Monday to Standard & Poor's downgrade of nine euro-zone governments. European stocks wavered between gains and losses in morning trading. Britain's FTSE 100 (UKX) slid 0.2%, the DAX (DAX) in Germany edged…
January 16, 2012
Digicel lashes out at LIME
THE COUNTRY'S two cellular service providers have been engaging in a verbal tussle following revelations last week that former Prime Minister Andrew Holness reversed a precondition of the Digicel-Claro merger. "We believe that Mr Holness'…
January 16, 2012
Employers fear work permits change could bring job losses
A new work permits policy floated by the Economy Minister makes little economic sense and could lead to job losses say employers. Patrice Minors, Economy, Trade and Industry Minister, announced on Wednesday that the Government is looking at…
January 16, 2012
States look to hike tax on millionaires
As the "tax the rich" debate rages in Washington D.C., some states are turning to their wealthiest residents to bring in much-needed revenue. The governors of the two largest Democratic states want rich folks to help close budget gaps. And…
January 15, 2012
French PM downplays rating decision
French PM Francois Fillon has defended his government's economic policies following the decision by ratings agency Standard and Poor's to downgrade the credit rating of France. He said the government would push ahead with reforms and debt…
January 15, 2012
China angry at US sanctions on oil firm Zhuhai Zhenrong
China has criticised sanctions imposed by the US on a Chinese firm for selling refined petroleum products to Iran. China's foreign ministry said imposing unilateral sanctions on Zhuhai Zhenrong based on US law was "unreasonable". The US said on…
January 15, 2012
Record imports widen US trade deficit
The US trade deficit widened in November for the first time in five months. Official figures from the Commerce Department showed that the overall deficit grew 10.4% to $47.8bn. Imports rose 1.3% to a record $225.6bn (£147.3bn), boosted by demand for…
January 15, 2012
Fight for Claro customers
Telecommunication firms Digicel and LIME both moved on Friday to lure Claro customers in limbo as word spread about Digicel's plan to shut down the Claro network which it acquired last year. Digicel stated in a press release that it had advised…