July 9, 2011
Greece to get next part of IMF financial rescue package
The International Monetary Fund has backed the latest 3bn-euro (£2.6bn) instalment of a rescue package for Greece. It is the latest tranche in the IMF's joint bail-out with the European Union aimed at helping the country pull back from an impending…
July 9, 2011
Pork prices drive Chinese inflation
Think prices are rising rapidly in the U.S.? Inflation is going even more hog wild in China. China's Consumer Price Index -- a broad measure of prices consumers pay for food, housing, clothing and other common expenses -- showed prices rose 6.4%…
July 9, 2011
Stocks drop as job report disappoints
U.S. stocks posted broad losses on Friday as Wall Street dealt with a dismal June jobs report that showed hiring crawled to a near standstill last month. "We now have a clear indication of a stall in the U.S. economic recovery," said Frank Davis,…
July 8, 2011
Buffett sees risks in US failing to hike debt ceiling
Billionaire investor Warren Buffett said yesterday Congress is playing a dangerous game by considering not raising the US debt ceiling. The CEO and chairman of the conglomerate Berkshire Hathaway Inc said on the cable TV network CNBC that there…
July 8, 2011
Facebook adds Skype video chat feature
Facebook is encouraging its members to talk face to face -- over the computer. The social networking giant introduced a video-calling feature on Wednesday in partnership with Skype, the popular Internet video-chat provider. The product comes a…
July 8, 2011
South Korean economy welcomes 2018 Winter Olympics
Pyeongchang’s triumph of the 2018 Winter Olympics is expected to cultivate more than just national pride, paving the way for the South Korean economy to rake in an estimated $27 billion, according to the Korean Institute for Industrial Economics…
July 6, 2011
Chinese Banks Fall After Temasek Sells Stake
Shares in Bank of China and China Construction Bank fell after Singapore's state-owned…
July 6, 2011
Japan’s cabinet approves $24.7bn for disaster relief
Japan's government has approved a second budget of 2tn yen ($24.7bn; £15.4bn) for reconstruction after the 11 March earthquake and tsunami. The money will be spent on rebuilding, and on compensating victims of the Fukushima nuclear crisis. Japan…
July 6, 2011
Portugal’s debt is downgraded to junk status by Moody’s
The credit ratings agency Moody's Investors Service has downgraded Portugal's debt to junk status. The agency said there was a growing risk the country would need a second bail-out before it was ready to borrow money from financial markets again.…
July 6, 2011
Japan ‘to hold stress tests at all nuclear plants’
Japan is to conduct safety tests on all its nuclear reactors in the wake of the crisis at the Fukushima plant following the 11 March earthquake and tsunami. Trade Minister Banri Kaieda said Japan's 54 reactors would undergo "stress tests" to…