Business

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…

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…