Business

November 24, 2011

Feds shut down dozens of online mortgage relief scams

The federal government is cracking down on scammers who target struggling homeowners looking to lower their monthly mortgage payments. Hundreds of con artists have been taking advantage of victims through online advertisements on search engines…

November 23, 2011

Merck & Co agrees $1bn Vioxx settlement in US

US drugs firm Merck & Co has agreed to pay almost $1bn (£640m) to settle criminal and civil…

November 23, 2011

IMF broadens lending power

The International Monetary Fund approved a number of changes to streamline its emergency lending process and deal with the European debt crisis. The goal: allow the IMF to provide cash in tough times, especially to otherwise healthy countries…

November 23, 2011

Stocks slip on worries over growth and Europe

Stocks ended in the red Tuesday, amid worries about U.S. economic growth. But losses were trimmed after the International Monetary Fund unveiled an enhanced lending program to help countries struggling with short-term liquidity problems from…

November 23, 2011

Fed orders stress tests for America’s biggest banks

The Federal Reserve wants to know: could America's largest banks endure another shock like the one in 2008? After the markets closed on Tuesday, the central bank ordered the top 31 U.S. banks, with assets of $50 billion or more, to participate in…

November 22, 2011

US growth revised down for third quarter

The US economy grew at a slower pace than previously estimated in the three months to the…

November 22, 2011

Egyptian stock exchange suspended after 5% dip

Trading on Egypt's stock exchange was automatically suspended on Tuesday after the main EGX 100 index fell 5%. It followed a 4% fall on Monday, and came as Egypt's ruling military council began talks with protesters following violent clashes in…

November 21, 2011

Japan’s exports decline for first time in three months

Japan's exports have fallen for the first time in three months, reinforcing worries that the strong yen and global debt crisis are affecting the economy. Shipments dropped 3.7% in October from a year earlier, said the Ministry of Finance.

November 21, 2011

Toyota resumes Japan output after Thai flood disruption

Toyota Motor said it had restored vehicle output in Japan to "near-normal levels" on Monday, after severe flooding in Thailand disrupted supply chains. Partial production at three Toyota factories in Thailand itself has also resumed. Last month…

November 21, 2011

Northern Rock: Osborne to reveal EU deal over 2013 sale

Northern Rock had to be sold by 2013 under a deal signed by the former Labour government, Chancellor George Osborne is to reveal on Monday. The bank, which was nationalised in 2008 following its near-collapse during the global credit crunch, was…