Business

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…

June 10, 2011

U.S. trade gap narrows on Japan quake impact

The gap between U.S. exports and imports narrowed slightly in April, as Japan's earthquake weighed on the global auto supply chain, according to a government report. The U.S. imported $43.7 billion more than it exported in April, down from a…

June 10, 2011

US Stocks Close Higher

U.S. stock market indexes rose in Thursday's trading. The Dow Jones Industrial Average advanced six-tenths of a percent to end at 12,124. The S&P 500 rose seven-tenths of a percent to close at 1,289 and the NASDAQ composite index gained a…

June 10, 2011

America’s lost trillions

One reason that the U.S. economy still struggles to achieve sustained growth is that Americans are a long way from recovering the trillions of dollars of household wealth lost during the Great Recession. U.S. household wealth fell by about $16.4…

June 10, 2011

Singapore enters Sin City

Who would have thought that in a little over a year, Singapore would be set to overtake Sin City in the gambling stakes? According to Frank Fahrenkopf, president of the American Gaming Association, in a report by The Straits Times, the two…

June 9, 2011

Greek joblessness at record as new austerity looms

Unemployment in debt-ridden Greece hit new record highs in March as government…

June 9, 2011

EU offers farmers US$300m for E coli crisis

Pressed hard by outraged farmers, the European Union farm chief yesterday increased his offer of compensation for the E coli outbreak to €210 million (US$306 million). EU Farm Commissioner Dacian Ciolos had initially proposed €150 million (US$219…

June 9, 2011

No output deal as OPEC talks collapse

OPEC talks broke down in acrimony yesterday without an agreement to raise output after Saudi Arabia failed to convince the oil cartel to lift production. “We were unable to reach an agreement—this is one of the worst meetings we have ever had,”…