Business

October 19, 2011

Moody’s cuts Spain’s debt rating

Moody's has downgraded the rating of Spain's government bonds. The ratings agency cut Spain two notches, two days after Standard & Poor's took the same decision. Moody's said it had cut the rating because there had been no credible resolution to the…

October 19, 2011

Turkey Taps Arab World For Tourist Dollars

Hard economic times in Europe is hitting the tourist industry in Turkey. But the country is enjoying a rather surprising dividend in the growing popularity of its prime Minister Recep Tayyip Erdogan across the Middle East. It is proving an…

October 19, 2011

Britain, Canada Freeze Assets Over Alleged Iranian Plot

Britain and Canada have joined the United States and frozen the assets of five men in connection with the alleged Iranian plot to kill the Saudi ambassador to the United States. U.S. authorities froze the assets of the five one week ago. Canada…

October 14, 2011

G20 ministers meeting to discuss eurozone debt crisis

Finance ministers from the G20 group of nations are meeting in Paris to continue efforts to find a…

October 14, 2011

S&P downgrades Spain on weak growth outlook

Standard & Poor's (S&P) has cut Spain's long-term credit rating by one notch, from AA to AA-, because of weak growth and high levels of private sector debt. The ratings agency added that the country's high unemployment would remain a drag on the…

October 13, 2011

Google profits and revenue surge in the third quarter

Internet giant Google has reported a large rise in profits in the three months to…

October 13, 2011

JP Morgan profits fall due to eurozone crisis

Profits at JP Morgan Chase have fallen 4% as the continuing debt crisis in the eurozone hit its investment banking arm. The US bank made a net profit of $4.3bn (£2.7bn) in the three months to the end of September, compared with $4.4bn a year…

October 13, 2011

US trade deficit narrows to smallest in four months

The US trade deficit with the rest of the world narrowed in August to the smallest gap in four months, official figures have shown. The trade gap narrowed to $45.61bn (£29.1bn), from a revised $45.63bn in July, the Commerce Department said.…

October 13, 2011

Blackberry says services ‘fully restored’

Blackberry's founder Mike Lazaridis has said services are "fully restored" following a three-day global blackout. Millions of customers worldwide had their messaging and email service disrupted with many turning to Twitter to express their anger.…

October 13, 2011

US Congress votes through South Korea trade deal

US lawmakers have approved a long-delayed free trade agreement with South Korea, calling it the…