Business

November 3, 2011

TD Bank adds $9 savings account fee, hikes others

As other banks recoil from the customer wrath they faced after attempting to introduce debit card fees, TD Bank is rolling out a brand new fee and hiking others. Starting in December, TD Bank (TD) savings account customers who exceed six…

November 3, 2011

US Federal Reserve slashes US growth forecasts

The US Federal Reserve has slashed its forecast for US growth and upped its expectation for unemployment next year. Despite this, the Fed voted to keep interest rates on hold and maintain its bond-buying programmes. The decision was entirely what…

November 3, 2011

Italian Cabinet Fails to Reach Consensus On Financial reforms

Italy's cabinet has held an emergency meeting on ways to accelerate budget reforms and avert a major financial crisis. Italy's prime Minister Silvio Berlusconi is expected to face intense pressure from G20 leaders to produce a set of concrete…

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…