Business

June 16, 2011

Online radio firm Pandora floats for $2.6bn in New York

The US internet radio service Pandora Media rose sharply on its debut on the New York Stock Exchange, before falling back. The firm, which has yet to make a profit, had an offering price of $16 (£9.76) a share. It rose as high as $26 a share on…

June 16, 2011

China’s property rating downgraded on tightening credit

Rating agency Standard & Poor's has downgraded its outlook for China's property market from stable to negative due to the country's tightening credit policy. The agency said as credit becomes more restricted there was a possibility of a downturn…

June 15, 2011

Fed chief Bernanke warns of US debt ceiling threat

The chairman of the US Federal Reserve, Ben Bernanke, has warned that the country's…

June 15, 2011

Qantas cuts growth forecast as more flights hit by ash

Qantas airlines has cut its forecast for domestic growth as it faces various problems including the continuing disruption due to volcanic ash. Australia's national carrier said it expected domestic capacity to grow by just 5.5% this year compared…

June 15, 2011

China inflation at 34-month high on rising food prices

Inflation in China hit its highest level in 34 months despite the government's efforts to rein in rising prices. Consumer prices in China rose by 5.5% in May, compared with the same month last year, according to the National Bureau of Statistics.…

June 15, 2011

Honda warns of profit slump due to earthquake

Honda has become the second major Japanese carmaker in a week to warn of dramatically lower profits due to reduced production resulting from March's massive earthquake. It forecast net profits of 195bn yen ($2.4bn; £1.5bn) for the year to the…

June 13, 2011

IMF: Lagarde wins support, as Fischer joins race

Christine Lagarde has won support from Egypt, Indonesia, and the United Arab Emirates in the…

June 13, 2011

Former Irish minister dies of cancer

The former Irish finance minister Brian Lenihan has died in Dublin, aged 52. He had been suffering from cancer but continued to work and signed Ireland's international bailout deal while still serving as finance minister late last year. Lenihan…

June 13, 2011

Bank of Israel’s Fischer faces challenges in his bid for IMF role

Bank of Israel governor Stanley Fischer has announced his candidacy for the International Monetary Fund's top job, but faces a few obstacles. French finance minister Christine Lagarde is seen as the front-runner, with Mexican central bank head…

June 10, 2011

Greeks March Against More Budget Cuts, Privatization

Angry Greeks are taking to the streets, demanding the government back off plans to…