Business

December 15, 2011

Eurozone faces winter recession, Ernst & Young says

The eurozone is facing a "bleak" winter, according to audit firm Ernst & Young. A "mild" recession…

December 15, 2011

UK’s unemployment at highest level in 17 years

Austerity measures, prolonged economic weakness and a eurozone crisis have taken their toll on Britain’s work force, with figures published yesterday showing that unemployment has reached a 17-year high. Britain’s government has staked its…

December 15, 2011

Bank of Japan says businesses are pessimistic

Japanese manufacturers' sentiment has turned pessimistic due to a strong yen and Europe's debt crisis, the latest Tankan survey has found. In its quarterly survey, the Bank of Japan said large manufacturers' sentiment in the three months to…

December 15, 2011

Bernanke worries Europe’s woes will spill into U.S.

Federal Reserve Board Chairman Ben Bernanke told Republican senators on Capitol Hill on Wednesday that he's concerned about European sovereign debt problems spilling over to the U.S. economy, according to senators. The Senate Republican caucus…

December 15, 2011

China to tax US-made car imports in trade dispute

China will levy duties on some cars made in the US in the latest escalation of trade disputes between the two largest economies. China's commerce ministry said in a statement that vehicles were being dumped on the Chinese market, causing damage to…

December 15, 2011

Hong Kong stock market debuts struggle in weak market

Shares in two of Hong Kong's biggest stock market flotations this year have fallen in their first day of trading. Shares in jeweller Chow Tai Fook fell as low as HK$13.66 in morning trade, down 9% from an offer price of $15. New China Life, an…

December 14, 2011

Iraq PM Nouri al-Maliki calls for US investment

Iraqi Prime Minister Nouri al-Maliki, has called on US business leaders to invest in his…

December 14, 2011

Olympus submits earnings to try and avoid delisting

Japan's scandal-hit camera maker Olympus has filed revised earnings reports to try and avoid being delisted by the Tokyo Stock Exchange. The firm filed reports going back five years, three hours before a deadline passed which would have seen it…

December 14, 2011

Euro drops below $1.31 for first time since January

The euro has dropped to an 11-month low against the dollar as concerns continue over the future of the eurozone. The euro fell below $1.31 for the first time since January. Against the pound, one euro bought 84.20 pence. Last week, 26 of the 27…

December 14, 2011

US Federal Reserve continues ‘Operation Twist’ stimulus

The US Federal Reserve has left interest rates unchanged and said that it will continue with its bond-buying stimulus programme. However, one member of the Fed's rate-setting dissented and wanted more stimulus to the economy. The Fed said it…