June 27, 2011
China’s PM Wen Jiabao set to sign £1bn UK trade deal
British business hope to sign deals worth more than £1bn when the Chinese prime minister Wen Jiabao meets David Cameron at Downing Street later. Mr Wen, who is on a three-day visit to the UK, has already said he wants to welcome more UK products…
June 27, 2011
Canadian firm gets US$97 mill for stake of east coast block
A Canadian oil company has earned US$97 million from the sale of its 25 per cent stake in an exploration block off the east coast. Sonde Resources Corp, closed the sale of its 25 per cent stake in Block 5(C), to another Canadian company, Niko…
June 27, 2011
Central bankers advise investors to expect less
Investors should prepare themselves for smaller profit margins as banks stash away more capital to avoid another global financial crisis, the world’s major central bankers cautioned Sunday. They also advised central banks around the world that…
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…