November 10, 2011
Italy debt worries keep European markets on edge
European markets remained jittery on Thursday after Italy's record high cost of borrowing renewed fears over the eurozone debt crisis. After opening lower, markets in Germany and France rebounded to show slight gains in early morning trade, but…
November 10, 2011
Amnesty Intl. Urges Shell to Clean Up Nigeria Oil Spill
Amnesty International released a report Thursday saying Shell Oil should commit $1 billion to start cleaning up two spills in southeastern Nigeria that have impacted the livelihoods of thousands of farmers and fishermen. Amnesty says British…
November 10, 2011
Japan to Announce Decision on Joining Pacific Trade Pact
Japanese Prime Minister Yoshihiko Noda abruptly postponed a news conference Thursday at which he had been expected to announce that his government will join negotiations on a trans-Pacific free trade pact. Japanese news reports say the prime…
November 10, 2011
Anglo American sells stake in Chile mining operations
Mining giant Anglo American says it has sold a 24.5% stake in its operations in southern Chile to Japan's Mitsubishi for $5.39bn (£3.38bn). But the deal could hit trouble after Chile's state copper miner Codelco said it would exercise an option…
November 10, 2011
Jefferson County in Alabama faces bankruptcy
Leaders of the largest county in the US state of Alabama have voted to file for a $4.1bn (£2.6bn) bankruptcy, the costliest US municipal failure ever. Jefferson County has been struggling to avoid bankruptcy since 2008, but recent talks on a deal…
November 9, 2011
Credit Suisse to hand over US account tax details
Swiss bank Credit Suisse has sent letters to some US clients, saying their account details may be given to the Internal Revenue Service. It is unclear how many US clients have been notified, but it covers accounts open from 2002 to the end of last…
November 9, 2011
Record fine of $92.8m for insider trader Raj Rajaratnam
The jailed insider trader, Raj Rajaratnam, has been handed a record fine by the SEC in a civil case. A judge ordered the former founder of Galleon Group, a hedge fund, to pay $92.8m (£57.6m; 67m euro) in penalties. This comes on top of the $63.8m…
November 9, 2011
Canada delays balancing its budget
Canada's finance minister says he will not be able to balance the country's budget by 2014-15 as promised. Jim Flaherty blamed the European debt crisis for damaging Canada's outlook. The government set the date for achieving a budget surplus during…
November 9, 2011
China’s inflation rate eases for third straight month
China's inflation rate has slowed for a third straight month in October, as the government continues to try to cool economic growth. Consumer prices rose 5.5% in October compared with the same month a year earlier, the National Bureau of…
November 8, 2011
Italy borrowing rates hit record
The Italian government's borrowing cost has risen as fears grow over political uncertainty in Rome. 