Business

November 27, 2011

Hungary’s debt downgraded by Moody’s to junk status

Moody's has cut its rating of Hungarian government debt to junk status. The ratings agency blamed Hungary's high levels of debt and weak prospects for growth, as well as uncertainty about whether the government can achieve its goals for the…

November 27, 2011

Scotiabank gives $1.2m to Salvation Army Kettle Appeal

The Salvation Army's 2011 Christmas Kettle Appeal has received a $1.2 million jump-start towards its $12-million target from an associated partner, Bank of Nova Scotia (Scotiabank). Michael Shaw, district vice-president for Scotiabank's northern…

November 27, 2011

Black Friday sales hit record, says report

Preliminary reports for Black Friday indicate that retailers may have seen their strongest sales ever during the all-important kick-off to the holiday shopping season. Retail sales on Black Friday climbed 6.6% this year to an estimated $11.4…

November 25, 2011

France and Germany plan changes to EU treaties

Germany's Angela Merkel and France's Nicolas Sarkozy are to propose modifications to EU…

November 25, 2011

AT&T and T-Mobile USA withdraw merger application

US telecoms giant AT&T and Deutsche Telekom have cast doubt over the $39bn (£25bn) sale of T-Mobile USA by withdrawing their merger application to the industry regulator. AT&T also said it would include a $4bn charge in its fourth-quarter…

November 25, 2011

Barbados steps up business competitiveness with free Wi-Fi

The vision of Barbados as a 24-hour work hub has moved closer to reality as the Barbados Entrepreneurship Foundation (BEF) reports that almost 60 per cent of the island is now wireless fidelity (Wi-Fi) accessible. This was the position achieved…

November 25, 2011

N&M CEO warns business sector: T&T in for ‘a storm’

Gervase Warner president and group chief executive officer of Neal and Massy Holdings Ltd is warning all businessmen to get their act together as the country is in for more troubled times. Describing the troubling time ahead as “a storm,” Warner…

November 25, 2011

Digicel’s 4G network goes live

DIGICEL’S 4G network officially went live on Wednesday night and by December 7 its customers will be able to access the Internet at faster speeds. The full range of benefits of the HSPA+ (4G) were revealed at the official launch of DIGICEL’s 4G…

November 24, 2011

Nokia Siemens to cut 17,000 jobs, 23% of its workforce

The struggling telecoms equipment maker Nokia Siemens Networks is cutting 17,000 jobs, 23% of…

November 24, 2011

Suzuki starts arbitration procedure against Volkswagen

Suzuki Motors has initiated arbitration proceedings against Volkswagen in a bid to buy back its shares from the German carmaker. Volkswagen bought a 9.9% stake in Suzuki in 2009, but relations between the two have since deteriorated. Suzuki ended…