November 7, 2011
Most of US unemployed no longer receive benefits
The jobs crisis has left so many people out of work for so long that most of America’s unemployed are no longer receiving unemployment benefits. Early last year, 75 per cent were receiving checks. The figure is now 48 per cent—a shift that points…
November 7, 2011
BP’s US$7b Argentine sale collapses
BP’s US$7 billion deal to sell its stake in South America’s Pan American Energy has collapsed because of legal issues, the would-be Chinese and Argentine buyers said on Sunday. China's biggest offshore oil producer CNOOC Ltd and Argentina’s…
November 7, 2011
LIME bleeds $1.3 billion in 2Quarter
TELECOMMUNCIATIONS provider LIME Jamaica reported a net loss of $1.3 billion over the second quarter ending September 30, 2011, but found a silver lining in a 11 per cent increase in mobile revenues and a three per cent growth in its postpaid…
November 4, 2011
China pledges more help to other developing countries
Chinese President Hu Jintao said Thursday that his country will provide more help to other developing countries.
He made the pledge at a Group of 20 (G20) summit in this French seaside resort.
China would provide new loans to help developing c
November 4, 2011
Tepco to get $11bn government aid after plan approval
Tokyo Electric Power Company (Tepco) is set to receive 900bn yen ($11.5bn; £7bn) in bailout funds after the government approved its business plan. The funds are a part of the government's bailout plan for Tepco, which is expected to make a loss of…
November 4, 2011
AIG posts $4.1 billion loss
American International Group is back in the red. Way in the red. The bailed out insurer posted a net loss of $4.1 billion on Thursday, a loss per share of $2.16 for the third quarter. While analysts hadn't expected the company to post a profit,…
November 4, 2011
Republic Bank earns $1.1B in profit
Republic Bank has recorded an annual profit of $1.1 billion for the financial year ended September 30, 2011. That’s a 12.8 percent increase over last year of profit attributable to shareholders from the bank’s holdings here in Trinidad and…
November 4, 2011
Stocks in Europe spike as Greek referendum scrapped
Stocks rose sharply yesterday as the Greek prime minister bowed to massive political pressure to scrap a referendum on a European bailout plan. A surprise rate cut from the European Central Bank also helped boost sentiment following days of…
November 3, 2011
G20 leaders to meet amid Greek fears
The G20 leaders are due to meet in France amid concerns the eurozone's debt crisis may be…
November 3, 2011
China refuses to commit to EFSF amid Greek concerns
China has said it cannot commit to investing in the European Financial Stability Fund (EFSF) until the situation with Greece has been clarified. European leaders hoped that China would buy EFSF bonds, injecting capital in the region's financial…