Business

May 30, 2011

IMF may block aid payments to Greece, Juncker warns

The chairman of the eurozone finance ministers has warned that the IMF may not release the next payment in Greece's bail-out package.

May 30, 2011

Yuan at record high versus dollar after Treasury report

China's yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated. The People's Bank of China (PBOC) fixed the yuan's mid-point at 6.4856 against the US dollar…

May 30, 2011

Barclays ‘considering buying regional Spanish bank’

Barclays is considering buying one of Spain's regional savings banks, it has been reported. It comes after the Spanish government said Barclays' boss Bob Diamond had met Prime Minister Jose Luis Rodriguez Zapatero in Madrid last week. The Sunday…

May 30, 2011

Philippines economy reports ‘modest’ 4.9% growth

Economic growth in the Philippines slowed down in the first quarter of 2011 due to lower government spending and a slowdown in global trade. The country's economy grew by a 'modest' 4.9% in the three months to March compared with the same period…

May 30, 2011

RBS launches China markets joint venture

Royal Bank of Scotland has launched a joint venture with a Chinese financial securities firm. The tie-up with China's Guolian Securities will allow RBS to manage share sales and issue debt in China's fast-growing financial markets. RBS Asia boss…

May 25, 2011

US Treasury agrees to sell $5.8bn worth of AIG shares

The US Treasury has agreed to sell part of its stake in American International Group (AIG), as…

May 25, 2011

Foreign investment into Europe jumps thanks to US

Foreign investment into Europe grew sharply in 2010 to reach levels not seen since the global financial crisis began, a survey suggests. This resulted in a record number of projects funded, while the number of jobs these helped to create rose by…

May 25, 2011

US new home sales rise in April

US new home sales rose for the second month in a row in April, climbing 7.3% on the month before, figures show. April sales came in at a seasonally adjusted annual rate of 323,000 homes, the Commerce Department said, which was stronger than analysts…

May 25, 2011

Greece default would hurt other countries, says Moody’s

Any Greek debt default would likely hurt the credit rating of other peripheral eurozone countries, the ratings agency Moody's has warned. In a statement on the impact of a potential default, Moody's said such a default would also hurt Greek……

May 25, 2011

Chrysler repays $7.6bn in government loans

US car giant Chrysler has repaid $7.6bn (£4.7bn) in US and Canadian government loans that helped it stay afloat in 2009, six years ahead of schedule. The repayments include $5.9bn to the US and $1.7bn to Canada. Plummeting sales forced Chrysler,…