Business

December 21, 2011

Prosecutors raid the HQ of Olympus in earnings probe

Japanese prosecutors have raided the headquarters of camera and medical equipment maker Olympus as part of an ongoing investigation. Olympus is being probed over its accounting practices and the admission that it hid losses. The issue came to…

December 21, 2011

Cuban banks begin offering loans to private businesses

Banks in Cuba have begun offering loans to individual citizens, in the latest free-market reform in the communist-run island. The loans are aimed at the growing number of small businesses and the self-employed, as well as farmers and people…

December 21, 2011

Japanese exports fall on strong yen and euro troubles

Japanese exports have fallen again as demand for the country's goods continues to suffer. Overseas shipments fell 4.5% in November from a year earlier, Ministry of Finance data showed. The strength of the Japanese yen as well as the ongoing European…

December 20, 2011

Britain boycotts IMF eurozone rescue scheme

European countries have agreed to provide 150bn euros (£125bn; $194bn) to the International Monetary…

December 20, 2011

Solving debt crisis tops Denmark’s EU presidency agenda: Minister

Solving Europe's debt crisis will take the center stage in Denmark's upcoming EU presidency, the country's Minister for Europe said here Monday. "The crisis will heavily affect our agenda and we will do our best to secure what we can do to do…

December 20, 2011

Iran signs deal with Russia to develop oil field

Iran has signed a deal reportedly worth up to one billion U.S. dollars with Russia's Tatneft to develop an oil field, a rare example of new foreign investment in a country under tight economic sanctions. For a country under tight economic…

December 20, 2011

AT&T ends $39bn bid for T-Mobile USA

US telecoms giant AT&T has said it will not pursue its $39bn bid to buy T-Mobile USA after running into fierce government objections. AT&T said the actions of the government to block the deal do not change the problems faced by the mobile phone…

December 19, 2011

British govt backs plan to restructure banks

The British government will restructure the country's banks by…

December 19, 2011

Bahamas to get US$50m to improve air transportation

The Bahamas is to receive a US$50 million loan to improve its air transportation system in a programme expected to increase flights within the island chain and modernise its airports. The Inter-American Development Bank says its loan also will be…

December 19, 2011

China’s house prices fall amid curbs

House prices in most Chinese cities have fallen as government policies aimed at cooling the property market start to take effect. New home prices in 49 out of 70 Chinese cities dropped in November from the previous month, the National Bureau of…