July 15, 2011
Italian Senate passes austerity package
The Italian Senate has passed a tough austerity budget, including cuts of 48bn euros ($67bn; £42bn) over three years. The lower house must also adopt the measures in a vote on Friday. Correspondents say that is likely. Italy has one of the largest…
July 15, 2011
Gold price hits all-time high on US debt concerns
The price of gold has risen to a fresh all-time high of $1,594.16 an ounce, and the dollar has fallen, on concerns the US may default on its debts. The moves came after ratings agency Moody's said it may cut the debt rating of the US, warning…
July 15, 2011
Phone hacking: Murdoch defends handling of crisis
News Corporation's chairman Rupert Murdoch says his company has handled the phone-hacking crisis "extremely well" and will recover. In an interview with the Wall Street Journal, he said it would establish an independent committee to "investigate…
July 15, 2011
S&P says it may downgrade the US’s triple-A debt rating
Standard & Poor's has become the latest ratings agency to issue a warning of a possible downgrade to the US's debt rating. It said there was a "one-in-two" chance that it may cut the US's AAA rating if a deal to raise the government's debt ceiling…
July 14, 2011
Decision to be made on Digicel-Claro merger
A final and joint decision is expected to be made within the next two weeks, regarding the Digicel-Claro merger in Jamaica. The joint decision will be made among Spectrum Management Authority, the Office of Utilities Regulation (OUR) and the Fair…
July 11, 2011
US budget: No new deal in White House talks
Talks at the White House to try to break the deadlock over the US national debt have broken up without agreement. President Barack Obama and congressional leaders have agreed to resume the talks, which ended after 75 minutes, on Monday. Mr Obama is…
July 11, 2011
Qantas sees $122m carbon tax cost and warns of higher air fares
Qantas Airways claims the new carbon tax is likely to increase the cost of its operations by as much as 115m Australian dollars ($122m; £76.7m). However, the airline says the extra cost will be passed on to passengers as it increases fares. Qantas…
July 11, 2011
China’s imports slow down as domestic demand dips
The pace of growth of imports to China slowed down in June as the government's efforts to rein in growth hit domestic demand. Imports to China grew by 19.3% in June, compared with a year ago, a sharp decline from the 28.4% surge in May, latest…
July 11, 2011
Australia plans to impose carbon tax on worst polluters
The Australian government has unveiled plans to impose a tax on carbon emissions for the worst polluters. Prime Minister Julia Gillard said carbon dioxide emissions would be taxed at A$23 ($25; £15) per tonne from 2012. The country's biggest…
July 9, 2011
Euro debt market jitters worsen
The cost of borrowing for debt-laden Portugal, the Irish Republic and Italy hit new highs on Friday. Greek debts also sold off, reversing a recent rally on hopes of a new rescue. Financial markets were reacting to the European Central Bank's…