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…
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…