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…
November 20, 2011
EU settles for 2% budget increase
The European Union has been forced to accept a 2% rise in its budget next year - much less than the increase it wanted of around 5%. Several EU governments, including the UK, had argued the demands by the European Parliament and Commission were…
November 20, 2011
ECB’s Draghi urges swift action on bailout fund
The new governor of the European Central Bank (ECB), Mario Draghi, has called for "urgent action" to implement the new eurozone bailout fund. His comments come as the Italian parliament gave its approval to the new government led by economist…
November 20, 2011
Budget wars: Cut, cut and cut some more
On election night in 2010, Republicans were united by one mission: Cutting government spending now. "I'm here to tell you tonight that our new majority is prepared to do things differently," then Minority Leader John Boehner told an election night…
November 20, 2011
Oil price ends below US$98
Oil prices dropped below US$98 per barrel to the end a volatile week that mixed jitters about Europe’s debt with the prospect of tighter oil supplies and improving economic conditions in the US. The price of oil ended the week lower than it…
November 20, 2011
Clico commission resumes hearings next January
As sole Clico commissioner Sir Anthony Colman endeavours to maintain the timeline he set himself for the conclusion of his commission, he announced yesterday that he was scheduling four evidential hearings in 2012. The commission, which ended its…
November 18, 2011
Greek budget will ‘cut deficit’ by 2012
The new Greek government has submitted its plans for next year's budget, promising to almost halve the deficit. Finance Minister Evangelos Venizelos predicted the deficit would fall from 9% of GDP this year to 5.4% in 2012 due to a write-off of debt…
November 18, 2011
Boeing sets record with $22 billion order
Emirates Airlines' position as the biggest all-time orderer of Boeing jets lasted all of four days. Boeing announced Thursday that Indonesia's Lion Air has set a record with a nearly $22 billion order of jets. The U.S. company had previously counted…