Business

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…

June 22, 2011

IMF says Spain’s economy still facing major risks

The Spanish economy still faces "considerable" risks, the International Monetary Fund has warned. In an annual report, the IMF said the Spanish government had to continue work to reduce public spending, and increase efforts to liberalise its jobs…

June 22, 2011

European Stocks Mixed in Midday Trading

European stock prices are mixed in midday trading Wednesday. London's Financial Times index is down nearly one-half of one percent. The CAC-40 in Paris is down one-quarter of one percent, while the DAX index in Frankfurt is up nearly one-tenth of…

June 21, 2011

Greece: Government to face vote of confidence

The Greek government is due to face a vote of confidence, a crucial first step towards gaining…

June 17, 2011

Capital One to buy ING online bank

Capital One says it plans to buy the US internet banking arm of ING in a move that will make…

June 17, 2011

Fashion firm Prada earns $2.1bn in Hong Kong share sale

Fashion house Prada has raised $2.1bn (£1.3bn) via its initial public offering on the Hong Kong stock exchange, the BBC has learned. But the shares were priced at the lower end of a target range, raising less than the maximum $2.6bn wanted. Prada…

June 17, 2011

Greece debt crisis sends financial markets falling

Financial markets have fallen on investors' concerns about the impact of Greece's economic crisis. London, Paris and Frankfurt's key share indexes were initially down more than 1%, although they recovered somewhat later in the day. The sell-off…

June 17, 2011

US current account deficit widens as oil imports rise

The US current account deficit rose 6.3% to $119.3bn (£74bn) in the first three months of the year, the Commerce Department has said. Strong exports of cars, computers and machinery were offset by imports, particularly of more expensive oil. The…