December 8, 2011
European Central Bank cuts interest rates back to 1%
The European Central Bank has cut interest rates back to their historic low of 1%, as expected by markets. The quarter-point cut comes as crisis and recession threaten the eurozone. The decision comes just ahead of a "do-or-die" Brussels summit of…
December 8, 2011
Corzine: ‘I don’t know where the money is’
Jon Corzine, the former chief executive officer of the bankrupt broker MF Global, apologized for his firm's failure Thursday and told a House committee that he doesn't know where the missing money went. "I simply do not know where the money is, or…
December 8, 2011
LIAT passengers still stranded
Passengers using LIAT flight service were left stranded for a second day as pilots called in sick again. As of Tuesday, pilots have been calling in sick as they protest the dismissal of one of their colleagues on Monday. In a release issued…
December 8, 2011
Women CEOs Say Debt Uncertainty and Regulation Hurt Job Growth
Women business leaders meeting with Republican lawmakers said tax burdens, duplicative government rules, an unskilled workforce and congressional deadlock on the deficit are hurting job creation and the economy. “Like everyone else, we need…
December 8, 2011
Caribbean blasts UK for increased travel tax
THE CARIBBEAN has strongly criticised the United Kingdom government, accusing it of showing complete disregard for the region's future economic prosperity and the role of tourism in its development. In a press release on Tuesday, both the…
December 8, 2011
Oil back above $101 despite US supply growth
Oil is back above $101 per barrel after earlier losing ground when a government report showed an unexpected increase in supplies. Weakening demand for gasolene and other petroleum products was the cause. Benchmark West Texas Interme-diate on…
December 7, 2011
Eurozone crisis: New EU treaty ‘may not be needed’
Tougher rules to tackle the eurozone debt crisis can be achieved without changing EU treaties, European Council President Herman Van Rompuy says. In a leaked report for a crucial EU summit beginning on Thursday, he offers a fast-track "fiscal…
December 7, 2011
India confirms suspension of retail reform
India's parliament has resumed after the government confirmed that it was suspending a plan to open up the retail market to global supermarkets. The decision has been suspended "till a consensus is developed through consultation among various…
December 7, 2011
Citigroup to cut 4,500 jobs worldwide
US banking giant, Citigroup, has said it is to cut 4,500 jobs around the world in an effort to reduce its costs. The group has put aside $400m (£250m) to pay for the cuts, according to its chief executive Vikram Pandit. The money will be written…
December 6, 2011
Germany’s Schaeuble welcomes eurozone downgrade threat
German Finance Minister Wolfgang Schaeuble has said Standard &…