Business

June 25, 2011

Bank of England calls for audit of eurozone crisis risk

The Bank of England's new financial policy committee (FPC) has called for an audit of UK…

June 25, 2011

Conrad Black ordered back to prison

A US judge has resentenced former media tycoon Conrad Black to 42 months in prison for fraud and obstruction. He is likely to serve just 13 months because of time already served. The Canadian-born British peer was convicted in 2007 of defrauding…

June 25, 2011

US economic growth is revised upwards

The US economy grew at an annualised rate of 1.9% in the first three months of the year, slightly faster than previously thought, official figures have shown. This equates to a 0.5% quarterly rise. The last estimate by the Commerce Department…

June 25, 2011

Chinese Premier Wen Jiabao due in UK

Chinese Premier Wen Jiabao is due to arrive in the UK later for the UK-China Strategic Summit. Mr Wen will visit the MG car plant at Longbridge, near Birmingham, on Sunday. The plant used to make MG Rover cars, but is now owned by China's Shanghai…

June 23, 2011

Airbus and AirAsia announce record deal for 200 planes

Airbus piled up the orders at the Paris air show as it announced the largest single order of commercial aircraft in history. Malaysia's low-cost carrier AirAsia is buying 200 of the A320neo jets, in a deal worth about $18bn (£11bn). That eclipsed a…

June 23, 2011

Saab says cannot pay employee wages

Swedish carmaker Saab has said it does not have enough money to pay its employees' wages. Owner Swedish Automobile said it was in discussions with lenders to try and obtain short-term funding. Earlier this month, the company said it had reached a…

June 23, 2011

Greece bail-out to dominate EU summit in Brussels

The threat of a Greek debt default undermining the euro overshadows an EU summit getting under way in Brussels. The 27 EU leaders are expected to reaffirm their determination to defend the single currency. But the BBC's Europe editor says there is…

June 23, 2011

Federal Reserve cuts its US economic growth forecast

The Federal Reserve has cut its growth forecast for the US economy in the face of the impact of higher energy prices. It now estimates that the US economy will expand between 2.7% and 2.9% this year, down from its April forecast of 3.1% to 3.3%. The…

June 22, 2011

Greek government survives confidence vote

The Greek government has won a critical vote of confidence as it struggles to win support for…

June 22, 2011

Europe says Russia will lift ban on vegetable imports

Russia will lift its ban on vegetable imports imposed after last month's E. coli outbreak, the European Commission has announced. But Russia pointed out that trade would only resume once it had seen certificates proving the food was safe. The EU…