January 10, 2012
Gov’t accused of ‘enslaving’ CLICO policyholders
Former attorney general Ramesh Lawrence Maharaj has accused the coalition People's Partnership government of seeking to "enslave" policyholders even as the High Court is being asked to enforce their right to full compensation on the Executive…
January 10, 2012
French industrial output rises more than expected
French industrial output rose by a greater-than-expected 1.1% in November, lifted by production of electronic equipment and refinery output. Manufacturing output increased by 1.3%, said national statistics office Insee. Year-on-year, manufacturing…
January 10, 2012
Key tax deductions left hanging
It may be a new year, but when Congress returns from its winter break it will be all old business that lawmakers failed to finish before Christmas. The fight over a temporary extension of the payroll tax cut and long-term federal unemployment…
January 10, 2012
Swiss National Bank chairman Philipp Hildebrand resigns
The chairman of the Swiss National Bank (SNB), Philipp Hildebrand, has resigned with immediate effect. It follows revelations his wife Kashya bought $504,000 (£323,024) in August, three weeks before the central bank intervened to cap the Swiss…
January 9, 2012
New loans beat forecast, as authorities ease credit
China's lending and money supply grew at a faster pace than expected as the country relaxed its credit restrictions. New loans worth 640.5bn yuan ($101bn; £65.6bn) were issued in December, up from 562.2bn yuan in November. Last month, the central…
January 9, 2012
Rolls-Royce car sales hit new record
Rolls-Royce Motor Cars has reported a 31% rise in sales during 2011 to 3,538 cars. The growth rate was weaker than that seen last year, when sales rose 150%. The year's sales nevertheless marked a fresh record for the BMW luxury marque.…
January 9, 2012
Hong Kong Airlines places $3.8bn Airbus A380 order
Hong Kong Airlines (HKA) has placed an order for 10 Airbus A380 aircraft worth about $3.8bn (£2.5bn) at list prices. The contract will be a relief for the European planemaker, as the order risked being derailed by a dispute between the European…
January 9, 2012
Japan Airlines plans to relist shares in Tokyo
Japan Airlines (JAL) is planning to relist its shares on the Tokyo Stock Exchange as the next step in its recovery from bankruptcy. The company may sell between 500bn yen ($6.5bn, £4.2bn) and 1tn yen of shares, reports have claimed. Should the…
January 9, 2012
Third ratings agency gives Hungary a junk credit rating
Fitch has become the third ratings agency to cut Hungary's credit rating to junk status. The agency blamed "unorthodox policies" for its decision to cut the country's rating from BBB- to BB+. Hungary's centre-right government has been accused of…
January 8, 2012
US economy creates 200,000 jobs in December
The US economy created 200,000 jobs in December, marking the sixth month in a row of gains, official figures show. The rise was much more than expected. Analysts had forecast an increase of about 150,000 jobs. The unemployment rate dropped to 8.5%,…