Business

October 26, 2011

Boeing’s Dreamliner set for maiden commercial flight

After three years of delays, Boeing's Dreamliner jet is set for its maiden commercial voyage. The…

October 26, 2011

Amazon profits dive after heavy Kindle investment

Profits at the online retailer Amazon have dropped 73% after the company invested heavily in the Kindle tablet computer. The company, the world's largest online internet retailer, said third quarter net income was $63m (£40m, 45m euros). During the…

October 26, 2011

Indiana Town’s Economy Benefits from Canadian Oil Boom

The town of Whiting, Indiana, is home to the largest inland oil refinery in the United States.  The energy company BP operates the Whiting Refinery, which originally was built by the Standard Oil Company in 1889.  Now with heavier crude oil piped…

October 26, 2011

US Stocks Decline

U.S. stocks declined in Tuesday's midday trading. The Dow Jones Industrial Average dropped nine-tenths of one percent, the S&P 500 fell 1.1 percent, while the NASDAQ slid 1.2 percent. European stock markets were down by the close of Tuesday's…

October 26, 2011

Europe Scrambling to Complete Debt-Relief Plan

European leaders are scrambling to finalize a plan aimed at resolving the continent's government debt contagion, ahead of a Wednesday summit in Brussels. The outline of a package of reforms is emerging, but details have yet to be set, and a…

October 23, 2011

EU leaders urge action from Italy to reduce debts

European leaders have demanded that Italy make a major effort to reduce its 1.9tn euro (£1.6tn)…

October 23, 2011

BP wins approval to resume drilling in Gulf of Mexico

BP has won approval to resume drilling in the Gulf of Mexico, 18 months after a well blowout killed 11 workers and caused an environmental disaster. Regulators approved plans for drilling to depths of up to 6,000ft about 200 miles off the coast of…

October 23, 2011

Private Banks May Have to Forgive Half of Greek Debt

International lenders say private banks lending money to Greece may have to forgive the debt-ridden country more than a half of what it owes them. The latest review by European Union and International Monetary Fund experts shows that a Greek bond…

October 23, 2011

Obama Signs Korea, Colombia, Panama Trade Deals

U.S. President Barack Obama has signed into law trade agreements with South Korea, Colombia and Panama. Supporters say the deals will boost U.S. exports by billions of dollars and preserve or create hundreds of thousand of jobs in the United…

October 20, 2011

Sony postpones product launches due to Thailand floods

Japanese electronics maker Sony has postponed launches of various products after…