Business

November 2, 2011

FBI investigating missing money at MF Global

The FBI and federal prosecutors are investigating how some $600 million of MF Global customers'…

November 2, 2011

Toyota and Honda report weaker than expected US sales

Japanese carmakers Toyota and Honda continue to struggle in the US as they report weaker-than-expected sales for October. Toyota's sales dropped 8% due to a shortage in supply of its Corolla cars, while Honda's numbers fell 0.5% from a year……

November 2, 2011

Bank of America cancels debit card fee

Bank of America has cancelled plans to charge consumers a $5 (£3) monthly fee for making debit card purchases, citing customer feedback. The bank announced it was abandoning its fee plan amid growing anger around the move and consumer calls to…

November 2, 2011

Argentina tightens dollar exchange controls

The Argentine government has imposed new restrictions on the purchase of US dollars, in an attempt to reduce capital flight and tax evasion. People wanting to exchange Argentine pesos for dollars must now explain where they got the money, and…

November 2, 2011

UK economic growth picks up to 0.5%

The UK economy grew by 0.5% in the third quarter of 2011, according to the Office for National Statistics (ONS). The growth in the July-to-September period compared with a 0.1% expansion in gross domestic product (GDP) in the previous quarter. But…

November 1, 2011

Peru, China enjoy stronger trade ties

Trade relations between Peru and China saw continuous strengthening in the past years, as…

November 1, 2011

Australia lowers rate to 4.5% in a bid to boost growth

The Reserve Bank of Australia (RBA) has cut interest rates in a bid to boost growth amid fears of a slowdown in the global economy. The central bank lowered its key rate to 4.5% from 4.75%, the first cut since April 2009. The move comes amid fears…

November 1, 2011

China manufacturing activity slows amid growth concerns

China has reported an unexpected drop in manufacturing activity raising fresh concerns about the impact of a global slowdown on its economy. China's Purchasing Managers Index (PMI) fell to 50.4 in October from 51.2 in the previous month, the…

November 1, 2011

Stock markets fall as eurozone debt fears persist

Bank shares and the euro fell on Monday as fears over the eurozone persisted. European stock markets slumped about 3%, as the value of the big banks retraced much of the gains they had made since a new rescue deal was agreed by eurozone leaders…

November 1, 2011

World economy on verge of new jobs recession

The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned. It will take at least five years for employment in advanced economies to return to…