October 12, 2011
Australia parliament passes divisive carbon tax
Australia's lower house of parliament has narrowly passed a bill for a controversial carbon tax. The legislation would force about 500 of the biggest polluters to pay for each tonne of carbon dioxide they emit. The tax is central to the government's…
October 12, 2011
US Senate passes bill to pressure China on yuan
The US Senate has voted through a bill that aims to aims to put pressure on China to increase the value of its currency, the yuan. Some lawmakers argue that the Chinese yuan has been kept artificially undervalued, giving the country an unfair…
August 4, 2011
Japan government and central bank intervene to cut yen
The Japanese government and central bank have intervened to weaken the yen and protect economic growth. In the morning, Japan moved into the currency markets, cutting the value of the yen against the US dollar. The Bank of Japan announced further…
August 4, 2011
Italy ‘to default’ but Spain may ‘just’ escape
Debt-laden Italy is likely to default, but Spain might just avoid it, according to the British think tank, the Centre for Economics and Business Research. With the countries weighed down by debt, the think tank modelled "good" and "bad" economic…
August 4, 2011
European stock markets continue to slide
European shares have fallen sharply as fears grow about eurozone debt levels and the health of the global economy. The main share indexes in London and Frankfurt were both down 2.3%, while the Cac 40 in Paris dropped by 1.9%. US stocks initially…
August 4, 2011
FAA shutdown: Obama urges Congress to settle latest row
President Barack Obama has again urged Congress to end a funding row that has partially shut down the body which oversees US air safety. He said it was a "lose-lose situation" that could cost the government $1bn (£610m) in uncollected air fare…
August 2, 2011
Spain PM postpones holiday as debt fears hit record
Spain's Prime Minister Jose Luis Zapatero has been forced to postpone his holiday as investors continue to flee his country's debt. Mr Zapatero had been due to leave for south-west Spain. But on Tuesday, the yield on Spanish bonds reached 4.04…
August 2, 2011
US to avoid default as Senate backs debt ceiling rise
The US Senate has passed a deal struck between Republicans, Democrats and President Barack Obama to increase the US debt ceiling and avert a default. The bill passed the Senate by 74 votes to 26. Mr Obama is due to speak shortly and then sign the…
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…