Business

November 30, 2011

EU plans new consumer watchdog for disputes

Shoppers who get into disputes with European traders should find it easier to get an out-of-court settlement in future, under new EU proposals. The European Commission proposes an EU-wide online platform for consumers to "solve contractual…

November 29, 2011

American Airlines files for Ch. 11 protection

American Airlines' parent company is seeking Chapter 11 bankruptcy protection as it seeks…

November 29, 2011

US and EU consider bilateral trade talks

US and EU leaders have said at the conclusion of a White House summit that they could launch bilateral trade talks to boost jobs and growth. They announced a joint working group to explore how to enhance the "untapped potential" of transatlantic…

November 29, 2011

Citigroup’s $285 million SEC settlement rejected

A judge rejected a proposed $285 million mortgage securities fraud settlement between Citigroup and the Securities and Exchange Commission on Monday, saying the deal was "neither fair, nor reasonable, nor adequate, nor in the public interest."…

November 29, 2011

Europe scrambles to save euro

European leaders raced yesterday to save the euro from impending collapse, as momentum gained for a radical proposal in which countries that use the common currency would cede control of a big chunk of their budgets to a central authority. In the…

November 29, 2011

China ‘keen’ to invest in West’s infrastructure

China’s sovereign wealth fund wants to invest in improving neglected US and European roads and other infrastructure to spur global growth, the fund’s chairman said in comments published yesterday. The announcement reflects a shift in strategy for…

November 29, 2011

Japan households reduce spending as unemployment rises

Japanese household spending fell while the unemployment rate rose in October, raising concerns about the country's economic recovery. Household spending fell by 0.4% from a year ago, while the jobless rate rose to 4.5% from 4.1% in the previous…

November 29, 2011

Stocks rally on robust Black Friday sales

U.S. stocks posted sharp gains Monday, following reports of strong Black Friday weekend sales and amid optimism that European leaders may be working toward a solution to the continent's debt crisis. The Dow Jones industrial average (INDU) soared…

November 27, 2011

Cyber Monday outlook: big deals, record sales

Analysts are expecting an abundance of deals to bring in record online sales this…

November 27, 2011

Oil near US$97 a barrel

Oil rose yesterday in post-holiday, low-volume trading, but was down slightly for the week. The benchmark for crude oil in the US rose 60 cents to settle at US$96.77. It dropped US$1.84 on Wednesday, before markets in the US were closed for the…