Business

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.

November 8, 2011

Greek Politicians Try to Reach Agreement on Interim Government

European finance ministers are awaiting the formation of a new government in Greece before deciding whether to hand the country another segment of its bailout money. The ministers met late Monday in Brussels to consider the $11 billion Greek…

November 8, 2011

Buffett goes on $20 billion stock buying spree

In the worst quarter for U.S. stocks since the financial crisis, investor Warren Buffett went on a stock buying spree. A filing late Friday from Buffett's Berkshire Hathaway (BRKA, Fortune 500) shows it bought $20 billion in stocks in the three…

November 8, 2011

Panama wants TT’s LPG

PRIME MINISTER Kamla Persad-Bissessar disclosed that the Panamanian government is interested in purchasing liquefied petroleum gas (LPG) from Trinidad and Tobago. The Prime Minister made this disclosure at a news conference at Piarco…

November 7, 2011

Europe: The worst-case scenarios

Worries about Greece's future are front and center yet again, as Greek Prime Minister…

November 7, 2011

G20 rejects extra help for debt-strapped Europe – Italy agrees to IMF scrutiny

At one of the most disarrayed G20 summits ever, Italy agreed Friday to submit to rare scrutiny by the International Monetary Fund to boost confidence that it will carry through necessary fiscal reforms, the latest step in Europe's struggle to…