December 28, 2011
Unemployment set to rise in 2012, suggests CIPD
UK unemployment is set to keep rising to 2.85m in 2012 and peak in 2013, says a report by the Chartered Institute of Personnel and Development (CIPD). The think tank, which specialises in employment, warns the private sector will fail to offset…
December 28, 2011
US house prices fall in October despite low rates
US home prices have fallen further in October despite record low mortgage interest rates, according to new data. The Standard & Poor's Case-Shiller index of 10 major metropolitan areas fell 1.1% from a month earlier and its 20-city index fell 1.2%.…
December 28, 2011
Brazil to be world’s fifth-largest economy in less than 4 years
Brazil will overtake France to become the world's fifth-largest economy in less than four years, the country's Finance Minister Guido Mantega said Tuesday. "The International Monetary Fund says Brazil will be the world's fifth-largest economy by…
December 25, 2011
Payroll tax deal passes Congress in rare win for Obama
The US Congress has approved a short-term renewal of a payroll tax cut, a day after House…
December 25, 2011
Brazil fines Chevron $5.4m for oil spill
Brazil has fined US oil giant Chevron $5.4m (£3.5m) for breach of its environmental licence when it tackled an oil spill in November. Brazil's Ibama environmental agency said Chevron lacked the necessary equipment and was slow to respond. Ibama…
December 25, 2011
Portugal in US$3.5b utility stake sale to China
Portugal is selling the state’s 21.35 per cent stake in national utility Energias de Portugal to China Three Gorges Corporation for euro 2.7 billion (US$3.5 billion), officials said Thursday. Three Gorges Corporation beat rival bids from German…
December 25, 2011
Tortuga Rum Companies unite
The shareholders of Tortuga CRC Jamaica Ltd, Tortuga Rum Company Ltd of the Cayman Islands, Tortuga Imports Inc, of Miami, Florida, and Tortuga Barbados/Baker’s Choice have consolidated their regional interests into a new international food group…
December 23, 2011
Payroll tax cut: Obama urges Republican compromise
US President Barack Obama and House leaders remain deadlocked over a deal to extend a payroll tax cut due to expire at the end of the year. In a statement, Mr Obama blamed lack of progress on a Republican "faction". He also told House Speaker John…
December 23, 2011
Allen Stanford ruled fit for trial over ‘Ponzi scheme’
A US federal judge has ruled Texan financier Allen Stanford is mentally fit to stand trial for allegedly operating a $7bn (£4.5bn) Ponzi scheme. Mr Stanford, 61, is accused of one of the biggest white-collar fraud cases since Bernard Madoff. The…
December 23, 2011
Wal-Mart recalls baby formula after infant dies
Wal-Mart has removed a powdered infant formula from more than 3,000 shops across the US after a newborn baby who consumed it died from a rare infection. Tests are under way to see if there is a link between the formula and the death of the infant…