August 2, 2011
Fall in US consumer spending fuels economic worries
US consumers cut their spending in June for the first time in almost two years, according to new data. They also saw their incomes grow at the smallest pace for nine months, fuelling further concerns about economic growth. The US Department of…
August 2, 2011
Barclays profits fall by a third
Barclays has reported pre-tax profits of £2.6bn for the first six months of the year, down 33% from last year. The bank also said it aimed to cut at least 1,400 more jobs in 2011, having cut 1,400 posts already this year. The fall in half-year…
August 2, 2011
IMF details risks to UK economic growth
The International Monetary Fund says there are still "significant" risks to inflation, growth and unemployment in the UK. In its latest assessment of the UK, the IMF said growth would be 1.5% this year - less than the government expects. It backed…
July 29, 2011
Italy pays higher interest rate on latest bond sale
Italy has had to pay much more to borrow than a month ago as investors continue to worry…
July 29, 2011
Nintendo shares plunge 20% after company reports a loss
Shares in Nintendo have plunged on the Tokyo stock exchange a day after the company said it made a loss in the first quarter. Its shares fell by 20% in early trading as investors reacted to the worse-than-expected earnings report. On Thursday,…
July 29, 2011
Vodafone shareholders to get £2bn Verizon dividend
Vodafone shareholders will finally receive a return on the company's investment in Verizon Wireless after the US telecoms firm approved the payment of a $10bn (£6.1bn) dividend. Vodafone owns a 45% stake in Verizon, and so will receive $4.5bn,…
July 29, 2011
Unemployment claims drop below 400,000
Finally, some better news about the job market: the number of first-time filers for unemployment benefits fell below 400,000 for the first time since early April. There were 398,000 initial unemployment claims filed in the week ended July 23, the…
July 29, 2011
Exxon profits up on higher oil prices
US oil giant Exxon Mobil has reported a rise in quarterly profits on the back of higher oil prices. The company said that net profit rose to $10.7bn (£6.6bn) for the three months to June, up 41% from the same period last year. The profit was its…
July 17, 2011
Volkswagen sells record 4m vehicles over six months
Volkswagen has sold more than 4 million vehicles during the first half of the year, a record for Europe's largest carmaker. Deliveries increased by 14% on the same period last year, led by strong growth in Asian markets. Volkswagen, headquartered in…
July 15, 2011
EU bank stress test results due
The European Banking Authority (EBA) is set to publish the results of stress tests of 90 banks across Europe later. The tests are designed as a financial healthcheck and aim to ensure banks have sufficient capital to withstand difficult economic…